Ann: Pushpay and Church Community Builder announce business..., page-2

The Company signalled this acquisition a few months back, so again tidy execution of the plan. In fact, the Company have also signalled that the faith sector will see lots of consolidation in the USA. So, confident further acquisitions will follow.

They indicate merged interest yields 10000 customers. Also mention that Church Community Builder have 4000 customers. So, implies 1900 common customers already exist, yielding 2100 customers which would be new to PushPay. Effectively an immediate 25% increase to the current PPH customer count.

Delighted not going the CR route. Like gold for us investors....EPS. Acquisition price difficult to assess but all will be clearer when they report on their FY financials as at 31 March 2020. Future cash generation will quickly address new debt, so no problem there.

Obviously disappointed to see Chris go. Both founders out. Can’t fault fiscal management under new executive. Let’s hope they are equally as effective on capturing new market. Time will tell.

All in all, great news, coinciding ‘time-perfect’ with the last shares being disposed of ( original Heaslip shares).

Rokewa