Just had a thought last night, Tom and Rob revised the PFS sale...

Just had a thought last night, Tom and Rob revised the PFS sale earn out clause so that they need to achieve 33% EBITDA growth over a 3 year period (not revenue).

I remember Tom saying on the last call that they were accruing full STIP for this based on the trajectory they were on but....... should they only achieve 20-25% growth then they have already accrued 1 years worth of earn out in the P&L that they might not have to pay which would likely be added to the remaining $4m pounds left over from 31st March fine of $1m pounds.

If it’s a 10% of PFS turnover fine of $15m AUD then we likely might have 1/2 -3/4 of this put aside.

Short term noise and no one likes a fine but lots to discover in the coming days

P.S. if we had such a bad culture of governance then we would have failed the Due diligence in the sentenial purchase as don’t forget they run 60-70% of the big banks open banking platform so regulators would be all over that.