$120m = EBITDA multiple of 50 times.
$30m cash = EBITDA multiple of 12.5 times.
TASK shareholders received a very nice early Christmas gift from Plexure.
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Plexure must have had a good idea that things were turning to custard at the time of the capital raising. I have big questions about the integrity of their offering and the supporting documentation. I have zero faith in the board.
We are on the same page. Chris and Phil Norman were imagining they were going to be the next Xero.I like big ambitions. However, they were expanding before they had the basics right and didn’t have a streamlined sales process.
I think Dan is a much steadier hand and having been involved in building up a business from scratch is going to be more systematic. But sorting out this mess is a different skill set. He will need to step up and it won’t be easy
Share price is dipping to below 40c. Might be a potential discount maybe?