if they apply the full $15 mill against debt of $47mill that will reduce debt by approx 30%. Also will reduce interest costs by about $1,500,000 (say interest is 10%) or by about 30% (obviously) thats $1.5mill more on the bottom line. They actually escaped from the Fintronics debacle with the shirt still on their back (although ripped). Another thing to note was that in all valuations i had previously seen, the Asian investment was given a nominal value. I think one of the valuations of 40cps applied a valuation of the asian strategy at about 2cps (thats from my hazy memory). Clearly the value is in Australia. Another way to look at it also is that they have just got back about approximately 20% of their market cap (on yesterdays close of $82mill) (i am still hurting over the fact that the market cap is $82 mill but we paid approx $130 for the macquarie deal). All good things. However we still have plenty of other ducks waiting to line up in a row (if that ever happens) - sps migration, rba reform, and other worries like transaction volumes - (slowdown in gdp growth), and atm bans in venues etc. Perhaps we should go back to sleep until this time next year. Who is game to put a price on CUS for 9 May 2009. (my guess somewhere between 5cps and 30cps ;)
CUS Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
