Ann: Clarification of market announcement, page-63

As per ReXXar's post above (and further above as he's mentioned this before), see page 8 of the presentation on the St Andrews acquisition and look at the first line on cash and cash equivalents. Here is the extract:


At the time of the transaction, St Andrews had $7.3m on its balance sheet which comes with the business. This is not a secret, it's all in the presentation... you just need to look.

I agree with ReXXar that this is an amazing deal. It does look too good to be true, but from BOQ's perspective it makes sense. The ongoing reputational damage and ongoing management time it would take up to manage this is too much hassle when it is not their core business. They are very motivated sellers.