Ann: Trading Halt, page-11

Emailed CEO around the time this was announced. All of this is expected to be live by end of November with synergies to be realised by March 2025. He expects to be strongly cashflow positive post-acquisition, so no additional working capital needed for synergies to be realised. Mentions it is a completely different business now. If the post-synergies numbers are that good by March 2025, we would rerate to well over 20 million MC, over 2x from here. Only downside is the huge dilution that comes with the acquisition if you don't participate. If this goes to plan, GTI will be an international player in the loyalty space across AUS/NZ, would not be surprised to see a move into Asia in the next few years as well. A lot of IFs, but the core business will be profitable post-acquisition so it looks pretty decent for an 8 mill market cap. 3 billion+ shares on issue, not such a good look.