time just keeps ticking by...when will the website ever be updated. one other quirk on their website is a strange ad for Seek on the left hand side. it looks like they have paid advertising on the Strathfield site. i have never heard of any other legitimate retialer have advertisng on their website. for the $500 a year or whatever paltry amount they would generate out of web-ads why would they bother?
anyway, the deal with the CEO looks good and at least Richard Poole's investment banking skills have come out on top. issue overpriced scrip as a way of making the deal look good to both the buyer and the seller. Assume M8 and the other company really only value the scrip at 4 cents, they still got a pretty good deal.
Am somewhat worried about EBITDA figures of the 2 companies as there could be a heap of debt transferring across to SRA too which keeps EBITDA high but pummels underlying EPS. hope not. All will be revealed in the info bookelt they'll be sending to shareholders soon.
Wonder if Richard Poole is getting his advisors fee in cash or shares. that will be a good guide as to what he really thinks about the deal.
Sadly though we'll never know whether the former SRA business ever turned around as it will be dwarfed by the acqusitions. wont care though if they can crank up the profits.
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