nothing further to add, but, there would be no way that GEM would want to stay at 16%, it only adds value if they take the whole thing over,
most likely the only realistic buyer for this amount of stock was gem, they will want to get the current management out of the road as quickly as possible, no one likes their competitors to manage their investment.
The insto that got out most likely had seen enough and just decided to move on,
the same issue still remain for GEM, market talk is they are still looking for money to either replace existing facilities or to top up,
wouldn't mind betting that it was an opportunistic middle man who helped put this deal together, it was done very quickly, i wonder how much due diligence was done, bu t then again, GEM would have a better idea than most,
just can't help thinking that this whole rollup strategy is beginning to unwind, childcare, vets, even legal firms have come undone in some way, you are only as good as your last purchase,
maybe its a case of concentrating on expansion too much and not keeping an eye on what really drives the business----profits
AFJ Price at posting:
54.0¢ Sentiment: Hold Disclosure: Not Held
