Having read through the announcement again in detail, it appears that a contract has been 'renegotiated'.
If I was one of the recent acquisitions, particularly the ones that were bought with scrip (shares), I'd be furious at the recent share price fall. Imagine selling your company for shares - only to have those shares fall 80%! All that hard work!
I think perhaps there has been a renegotiation of the terms of contract payment, and in some ways this is to get those companies on board with the new structure? A $20m reimbursement to the original owners of those businesses, to cover the losses of the scrip offer...
"As a result of this review and recent information that has come to hand, the Company believes in substance an amendment to the original contract has occurred in 2H 2016"
This is so unprofessional and fishy! I can't believe in a developed economy such as ours, companies still get away with things like this....
SRF Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held
