I am fairly new to this company and relatively ignorant for this...

I am fairly new to this company and relatively ignorant for this sort of business. I saw the reduction in stake ( or return to normal sized stake?) from Song Pan Investments in the substantial shareholder change in holding notice and wondered if that had kept a lid on buying pressure recently. Not sure.

The growth rate seems good- and positive cashflow already, the recent acquisition sensible in getting access to numerous smaller more boutique like agencies. Price seems compelling.

An appealing aspect for me is that this software is only costing these agencies a few hundred a month- so it is a tiny expense for the owners of each. So if this software is better and you can provide more functionality then you could easily get a significant increase in spend for each one as well as spreading throughout more of NZ and Australia. UK is a big market but I wouldn't pretend to understand anything about it and how much market share could be gained.

Very exciting prospects and hoping to buy more soon once I can free up some more cash.