This is a really smart move by what I suspect will be the 5GN management. Whilst Cirrus haven't been able to demonstrate value to shareholders or significant ebit growth, they have continued to grow their revenue. especially in the federal market space which represents a huge opportunity across their wider portfolio. if this went ahead then it would turn them into a possible FY22 market cap of $150m, not to be sniffed at.
Not a good outcome though for Cirrus shareholders, I suspect the board will give them the middle finger. No way they would settle for anything less than 0.10 I would have thought and whilst I remain less than impressed with their management and bottom line performance, I can't blame them!
CNW Price at posting:
3.0¢ Sentiment: Hold Disclosure: Held
