Good to see this get finalised (I can't see the court process being an issue when all parties agree).
This now clearly frees up the balance sheet for M&A and/or capital mgt. Either option is compelling for shareholders, given I expect the company to have $6m+ net cash by June 30. I've run some numbers on a $10m acquisition at a 3.5x EBIT multiple. Assuming no synergies (which is very conservative), such an acquisition, together with organic growth, could drive 40%+ earnings growth in 2020. Further, this would only take the group slightly into debt, so they could arguably do something a lot bigger (albeit with more integration risk).
ASH Price at posting:
25.0¢ Sentiment: Buy Disclosure: Held
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