Remember this day !!

ironically this transformational deal was announced on Remembrance Day and Tom even tried (unsuccessfully) to hold a minute of silence half way through the call

PFS will take EML to another level on multiple fronts:

- Accretive deal, adding $24 million Ebitda company, that's growing 25%+ pa (CEO incentivized to grow 30-40%+ for earnout !!)
- diversifies revenue and earnings away from breakage and introduces new verticals (high growth) and new geographies.
- PFS cash conversion to profits 100% !!
- some huge government contracts up for grab (tenders out)
- some huge US mall deals imminent
- adds digital banking, government disbursement and travel cards as new verticals in GPR.
- huge cross sell opportunity !!
- $6 million synergies all on backend processing rather than employee cuts (positive)
- Tom and Chairman taking up some of rights issue !!
- Guarantees 100% ASX200 inclusion either December (85% chance) or March (100% chance).

pro forma with synergies $72 million ebitda in FY20 and if we add 25% growth pa then $115 million ebitda company in 2 years.

anyway you look at it, it is going way way higher and my $8-$10 call - is in the making.

new clients at EMLcon will be disclosed tomorrow.....

stay tuned