Ann: SPZ - Germany Acquisition, page-5

I've been in this stock since 2012.....yawn...... only ahead because I topped up heavily during COVID @0.12 and sold early holdings at a profit during the hyped bullrun when it was listed in the Sun Herald (Sunday paper) financial/Shares Game back in 2018 I think when she briefly went to 0.50 I have come to the conclusion that its a stock for the management ie it makes enough money to pay the Exec Team and all its lakkies and the workers who are doing the on the ground stuff eg attending to cameras, call outs, maintenance, etc. There appears to be very little margin in most of their contracts. I think the management "allow" to many expenses/costs and therefore chew into the shareholders potential profits. Of course with rising interest rates they should be able to collect a little more income on "the cash hold" they have (Our Shareholders Cash AND the money from Parking Breach Notices/parking fines they hold for clients.
Does anyone have a Brokers Analysis on SPZ ? could post it here ? Microc(r)aps gotta have some, but gotta hate em too.

I've really been waiting for a takeover offer/bid for it this past 5 years, COVID seemed to stall that chance, but still hasn't happened. Again I think that management is just protecting their cashcow and is not open to takeover offers. What does Gillepsie take home each year ? Half a mil ? What's that as a % of our total revenue ? 5% or more......

MicroEquities Asset Management is largest shareholder with 15.64% (about 47mil) shares, anyone know who might be behind Invia Custodian Pty Limited's 34.7% holding. Assuming its management in there? Its a Goldman Sachs/JB Were custodian in Melb. so its likely holding for hundreds of local & OS based clients of GS. Anyone have access to analysis from GS? Then there is another Melb based fundie called ICE Investors PL with a 6.1% holding, so between the three that's about 56.4% held.

I suppose this announcement explains why the Share buy-back seemed to stop/pause on the 2nd May 2023, none since, as they were keeping their cashcow for this German acquisition - would have liked a little more detail too - for example how many car park spaces across the 46 sites, what range of number eg 10 spaces to 100 spaces , with a median number provided, and yes the average weighted length of contract left for the sites.

It's not too hard to do/provide the owners of SPZ with this information !!!

Finally time to write to CEO & CFO and express my disappointment regarding the info/news flow to shareholders
Hopefully I get a response, if I do I will post summary here.
Although it's classed as a tech stock, its more like a utility stock but without a monopoly (ie no wide moat) as there are others out there with similar technology. The industry really is ripe for consolidation/takeover, SPZ is on the acquiring to get bigger stage, hopefully lining itself up for Private Eq takeover when it reaches its 1500 sites goal..... just saying/speculating.

BBB. All IMHO. DYOR (cause I have) Moderate size holder ie >100K < 1.0mil sh