report in the australian, page-9

Shareholders need to read the existing (and historic) financial statements more closely, and also those of related parties and suppliers.

Directors valuations of operating licences which cant be traded? Very grey area. There are more. Can you see the centre property assetts on their balance sheet?

Lots of demand (price sensitive) and fee support for childcare - but where does ABC create any value??

A lesson on making investment decisions look at the facts - not the hype or perceptions.

From direct expereince these are good small businesses but the cultural fit with a large corporate just isn't there IMHO. Not sure the operating gains from aggregation offset the overheads beyond a handfull of centres.