I figure that too. They've consistently said that they have an additional one or two further acquisitions in the pipeline. I recall that Kurt Hansen said in one of the podcast interviews a while back that they probably needed one or two more acquisitions to get to the $150m RRR by the end of FY21. I think you are correct in suggesting they just need to announce an acquisition prior to 30 June 2021 for it to count towards the RRR, even if the deal has not been completed (legals etc.), since the RRR is just a snapshot at a given moment in time. It will be interesting to see the market's reaction. On some previous acquisition announcements, the SP has barely moved, other times its gone up. But this time comes with it the prospect of additional revenues which will tip them above the forecast $150m RRR, so I'd then expect a significant re-rate upwards.
All IMHO, DYOR
TNT Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held