Seems brave. A good purchase at a good profit multiple, but MNF will end up with debt of approx Aust$23M. That would be Debt to Equity of 60%. That is high!
They say they will pay down the debt from the project profit in 5 years. No sure how they can do this - they must expect the initial EBITDA to increase from the FY16 AU$3.5M - then there is the interest on the $23M, even if it is "low cost".
Glad I'm in MNF, but I won't be buying more.
Seems brave. A good purchase at a good profit multiple, but MNF...
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