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2.17%

22.5¢ tesserent limited

Ann: Tesserent to acquire Asta Solutions, page-9

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t1obrien

845 Posts.

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27/07/18

19:07

Post #: 34601016
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Originally posted by maccadu ↑

I think you're right, seems incredibly cheap at 4 * EBITDA. (Most expectations from a seller would be 2 * revenue or a higher EBITDA multiple).

As above, the question has to be asked as to what price the shares were issued? (We assume 7 cents as they are already in the market at that price, but perhaps not, perhaps 25% lower which would result in a better EBITDA multiple). All will come out in the wash as it needs to go to Shareholders, they are issuing > 15% of current capital.

And on the numbers, they would need to be bringing some significant revenue... 85 Employees at $70K each is a cost of $5.95 Million. Perhaps the employee head count includes an ODC with lower costs.

At least the offices at Box Hill will have a few more bums on seats come October.

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I think it is a great deal.

Keith changing roles will free him up. Tech man as opposed to a natural salesman.

Hats off to the chairman who likes keeping a low profile.

I’m all in on tesserent.

TNT Price at posting: 7.4¢ Sentiment: Buy Disclosure: Held
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