You may have misread the announcement. The final payment was paid 100% in cash per the sale agreement.
Only paying 1 m highlights a large problem. In the ASX announcement of 8 Oct 2015 IPH priced the acquisition at 11.5m, 5.5m and an earnout of 6m based on earnings from key clients. On 31 Jan 17 the IPH said they paid the first earnout of 2m. On 22 May 2017 the second and final earnout was 1m, ie 3 m short of the promised 6m earnout.
There was a 50% reduction based on ongoing billing which suggest there was problem with client retention.
The 143k shares issued to them in Jan were valued at 6.98 a share, also a big fall to date.
You may have misread the announcement. The final payment was...
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Last
$5.00 |
Change
0.015(0.30%) |
Mkt cap ! $1.578B | |||
| Open | High | Low | Value | Volume |
| $4.99 | $5.04 | $4.97 | $1.174M | 234.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 32 | 4258 | $4.99 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.00 | 3028 | 20 |
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| Last trade - 14.59pm 27/11/2024 (20 minute delay) ? |
| IPH (ASX) Chart |
