Ann: Sale of Retail ICT and Sprout Business, page-25

Woomp, Spheria must be spewing. This from their latest newsletter about VTG.
’Vita has succeeded historically due to exceptionally strong sales skills making its consultants better able to drive profitability from stores than other Telstra store franchisees. The social distancing restrictions in place and lower mall traffic is impacting on Vita’s ability to upsell customers into better margin products and services. The market may also have been disappointed that the group was not able to finalise the sale of its franchised business back to Telstra by result date in-line with Telstra’s stated intention. We continue to see Vita as undervalued given its ownership of an emerging skin health clinic business (Artisan) with $30m of annualised sales, $31m in net cash, $75m in franking credits and a Telstra franchised business that we believe is worth well more than the implied valuation derived from the current market capitalisation.’
conclusions: SPHERIA were calling it just like us. Does it make sense to sell a bigger asset which performed better for a much less multiple? Nope.
the Maxine and Dick team have some serious explaining to do. All retail sheraholders should register their disgust on the vtg website. I have.