Any views on what the bid that the board are considering could be?
When they initially announced the strategic review, the share price was ~25c (so double this share price and a MC of ~160m) and even if they basethe price on the higher run rate in ANZ currently, we have revenues of ~$30-35m currently, but EBITDA/NPBT is still relatively small on that number. Arguably there is further upside given the initiatives they are rolling out, but you'd need to convince someone to pay up for those opportunities given they are still not delivering any bottom line.
Strongroom AI had a valuation of ~$70m (with I believe half of those revenues before all the dramas), so is that an indication or is there any other metric we can possibly use to even get a potential range of on the number that the board are looking at.
I was not planning to participate in the SPP, but given this announcement and we may have some further upside on the 13c, I've got half a foot in (the price could easily fall back to 10c if the bidder walks away)......but would be good to hear from some other shareholders on what they are planning to do and what they are basing it on (or what are you assuming will fall out of this LOI)??
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