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1.4¢ tombador iron limited

IBN: re rate on its way.. hidden gem, page-146

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silsol

3,521 Posts.

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27/07/18

17:47

Post #: 34600000
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Originally posted by aventurine ↑

Speaking of DVI, does anybody know if this deal with Flight Centre (FLT) & PPS is still on the table?

Is IBN still positioned to potentially benefit from this soon?

from ... http://www.ibuynewgroup.com.au/about/

Following the accelerated sell down of Professional Performance Systems (PPS), owner and operator of the BYOjet Group to Flight Centre Travel Group Ltd. (ASX: FLT), IBN has maintained a 8.205% equity-like exposure via a potential future payment. The agreed potential future payment is to be determined by reference to PPS’ EBITDA for the financial year ending 30 June 2018.

The initial deal dated 21/12/15 where FLT invests in BYOJetgroup:

https://www.asx.com.au/asxpdf/20151221/pdf/433yxlpf3l94pt.pdf

The revised deal on 19/2/16 where DVI accepted a $700k advance payment:

https://www.asx.com.au/asxpdf/20160219/pdf/4355yj3tqc4kfz.pdf

If FLT has been able to make good on this investment over the last 2.5 years, it could prove a nice cash bonus for IBN.

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It was noted in half-year ended 31 Dec 2016 Financial Statements.
IBN Price at posting: 0.4¢ Sentiment: Buy Disclosure: Held
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