Trading Halt, page-52

perhps IOOF got wind of the transaction (not the details or target) and started selling?

Either way, I don't see it as being a game changer.
They've got 12m + up to 25% of stock they can issue.

I would hope that they would not issue the full 25% or use up most of the 12m.
That would make it a 27m transaction, which will either be too pricey for a small acquisition or make the business too big for them to integrate while growing internationally.

I understand they can expand into new geographies from the same set of desks in Sydney, given this is a digital business, but it's still going to take up executive attention.

I hope this means that they are happy with the initial results from the new international markets and confident they are on the path to replicating their Australian success.

I'd hate to see overreach by an executive team.
Let's see...