not very accretive...

"acquisitions expected to be highly accretive excl costs"

not on my numbers


they issued 67mil + 11mil shares(to vendors)
total is 78million shares issued

$80mil purchase price, 5.2xEBIT
thats about 15.3million EBIT
for net profit after tax, thats 15.3*0.67 = $10million approx

current profit is 8.3million. EPS before is 8.3/89.5 = 0.09273 or 9 cents per share
89.5million current shares.
new shares on issue 78 million
total shares 167.5 million shares
total profit = 8.3+10(above) = 18.3
EPS after is 18.3/167.5 = 10.9 cents per share

taking some costs into equation, its about 10-10.5 cents per share
not a huge % move. Market has already factored in 10.5 cents per share in its EPS forecasts.