This is a good analysis by risk41 above. matches my numbers....

This is a good analysis by risk41 above. matches my numbers. worth remembering that commentary in annual report was quite bullish on erst and statseeker as well.

No reason to think that the conditions are anything beyond normal due diligence stuff. the prediction that done by end of year suggests the purchaser isn't mucking around. they would have had good visibility before making the offer prior due to the annual report.

Add in, return of statseeker debt, this year's cashflow and normalisation of working capital and you are really looking at net cash of 16M. 7cps. erst and statseeker, even after head office costs and assuming no growth are returning eps of 0.0065+. they are in fact both great fast growing companies so applying a 10x PE is conservative. add in cash and you are at 13.5c with upside. incredible buying at anything under 10c