Ann: Citadel Group Contracts Update, page-11

Fin Review today.....
Seems weird, but share price action suggests where there is smoke.....
I wonder if the "sources" have a trading account?
Gosouth

The listed IT services manager behind some of Australia's most complex enterprise systems may be in play. Sources told Street Talk that Citadel Group, which has a market capitalisation of $320 million, is working with Investec Securities to explore options for the business.
It is understood Investec has been quietly fielding private equity and trade buyer interest in the Canberra-based business, which specialises in the health, security and defence sectors. The corporate advisory firm has also helped Citadel identity potential offshore acquisition targets in recent months.
Sources stressed that any discussions with interested parties were preliminary and the board had not formally engaged Investec.
Citadel's operations in the health sector would likely be a point of interest for prospective acquirers.
Its health solutions business, which supports 50,000 daily transactions and holds 27 years of data, has provided all of the IT solutions to the new Royal Adelaide Hospital and runs the largest laboratory services network in the country. It has a contract with Queensland Health until 2022.
Citadel was formed in 2000 and within a decade had been named the 20th fastest growing private company in Australia. In 2014, the business listed on the Australian Securities Exchange.
It continued its rapid expansion, moving into the health space in 2015 with the acquisition of PJA Solutions. Citadel bought software services group Kapish two years later.
The emergence of Investec in Citadel's corner comes after a strong run in the shares, which have jumped from around $5.00 to $6.70 in the last 12 months, adding to big gains for investors that bought into the float at $2.25 per share.
The Kevin McCann-chaired business is made up of three divisions - a recruitment division called Citadel People as well as divisions specialising in software for the health sector and its Citadel technology arm.