JBL just entered trading halt, page-17

MY TAKE

Very interesting. What it says to me is that the Trading Halt is likely to continue another week or so

If they are in "negotiations with an international financial services company for the proposed acquisition of specific retail currency exchange business assets and premises." and finalising the buyout of Genesis then that will take time.

We also have the issue of how long is a piece of string? If those people take scrip in JBFG it compounds it. Either way everyone needs an independent to come in and value the various units and then combined as a company, which could take weeks at least. Although I am sure this is underway.

The good thing about this is JBFG is being sold off into an IPO so the value for us HML shareholders will be realised soon and we can all either kiss or curse the pirate messiah

More acquisitions of "international financial services company with retail currency exchange business assets and premises" IS big news. He's starting to get a big foothold into this space and that is very interesting. I just hope this isn't to buy shopfronts in Malaysia or Korea but Australia


As for who - here is the list I am aware of out there

Money Exchange Sydney
Travel Money Oz
City Forex
HiFX
XYLO Foreign Exchange

ANZ
Travelex
UAE Exchange
Ameican Express Foreign Exchange

Compass Global Markets

Superforex Financial Pty Ltd

Tasman Foreign Exchange Pty Ltd


Now, I don't know the space too well, but you would assume Travelex, UAE Exchange and American Express are too big for the field he could play in. I know Crown Currency is big but these are THE big boys in the space. So I'm guessing its a one of the smaller players. If you bolt that onto Kings/ Crown, and now Genesis, and all the other business units in JBFG, well, how do you value that? How many synergies has he brought into that and how much 1+1=3 can he bring? This is the $64m dollar question isn't it

Now I understand why he promised all upside as well.

(c) In the event that an independent expert places a value on the JB Financial Stake which is greater than the price per share specified under paragraph (a) above, the John Bridgeman Group will consider increasing the consideration payable under paragraph (a) to an amount equal to at least the preferred value attributed to the JB Financial Stake by the independent expert.



This is starting to look like a VERY serious Financial Services Company. Provided he has the right people leading that company and on the board, and can demonstrate synergies between the units this has potential to be a reasonably big IPO. I expect there are other units in the JBFG we aren't even aware of too

http://www.genesistrading.com.au/training-program/
Internet says they have a good reputation https://www.aussiestockforums.com/threads/prop-trading-graduate-programs.31075/

DYOR- nothing has been bought or sold yet