Just incredulous to read this in the AFR... because COG are...

Just incredulous to read this in the AFR... because COG are wanting to sell their major shareholding in us (to resolve their own issues of owning too many disparate businesses without synergies which has not been valued well by the market) - the Board has decided to put the whole of Earlypay up for sale!

Just so disappointed that after 3 years of cleaning house after the RevRoof devacle (internal risk practices and systems, improving our technology, people and embedded platform offerings, as well as riding out one of the most brutal interest rate cycles in recent times, etc) - we were finally out the other side and poised for sustainable and quality growth with strong leadership and a quality team. Why on earth would we put the whole business up for sale now?!

I get we'd have little say in who our new major shareholder would become, but surely someone willing to take on a big strategic stake in us would likely be a pretty keen and engaged shareholder to help take us forwards, and likely be quite interested in the whole business in time things going well. But perhaps that's the point... to flush out such interested parties now, who can make an offer for the whole lot (including COG's stake), rather than risk a long term blocking stake.

Just seems such a shame the timing, when the market has been so harsh on valuing small-caps, and none of all the good housekeeping and business reset work is reflected in our current market cap. Even a 30% premium on current SP wouldn't reflect the business' long term potential.

But i wouldn't be surprised if we ended up the subject of a bidding war if multiple suitors come out of the woodwork. Anyways, have been very impressed with current management and Board's stewardship of the business since RevRoof, so figure they've assessed all options and decided this process of exploring market interest in parallel with COG's stake is worth pursuing and in all SH's best interests...

https://www.copyright link/street-talk/earlypay-hits-the-auction-block-with-major-shareholder-s-blessing-20250123-p5l6tm