SYM/SLC combined - offers compelling upside !!

By combining the two companies we get a large group that should pro forma $100 million of Ebitda in 2024 assuming $10 million of synergies.

this would imply an Ebitda multiple of 4.5x compared to the nearest comparable Aussie Broadband trading on 9x !!

over time the enlarged group would get index inclusion and assuming a re rate half way to ABB, would be equivalent to $4.00 of value in SYM !!

hence why taking script in the offer is quite compelling.

another upside scenario from the board recommending the deal would be a competing offer for Symbio from another party.

if the deal does not go ahead then the shares will fall back to $1.80 and go sideways in the short to medium term.