Ann: Consolidation/Split - LPE, page-16

The initial capital structure here was bad and they would know that. The consolidation is to tidy that up some what and needed to be done. Not a last ditch attempt to milk more money out of new shareholder market through a cr.

The debt facility will be excellent for tax purposes now they are cf+. The funding of the initial install and 3.4 year payback period will increase their debt and in turn their tax benefits and in turn their company value.

I think the most important aspect of solar is not to generate immediate revenue but to build customer base. I personally dont care about the cost to them, whatever it is they have a 3.4 year payback period. I am more interested in how many customers they can sign up.

I suspect they now have the ability to be very smart about this and offset the energy supply EBIT with their debt of the solar installs. If they do it right excellent time to invest imo.

Very few companies at this mcap are in control of their growth like this.

I am back in again and will see if there is more opportunity post consol.