Further notes in digesting the Sentenial sale announcement:

• Non-Core to the Group’s operations as it is unprofitable (estimated ~A$2m EBITDA loss in FY24), does not have any material product overlap with other EML Group business lines, and is separable from the Group’s wider business
• Significant milestone to the delivery of the Group’s Strategic Review
• Sale price is subject to (1) customary completion adjustments for working capital and net debt (2) potential downward price adjustment, capped at EUR7.5m linked to ongoing key contract performance in the period up to completion of sale (3) earn out based on recurring revenue from new contracts signed by the Sentenial business from 1 Feb and 30 days after Completion.
• Completion is not subject to financing
• Expected to be completed within 3 to 6 months and is subject to approval from the French and UK financial regulators

@jimmybuffalino , @thunderhead , as a long-term shareholder, I share your sentiments with the overall Sentenial debacle. I had very low expectations of a meaningful sale price, as I was more looking forward to EML minus Sentenial, so am simply esctatic at the sale, whatever the price. It just releases EML from the ongoing burden that PCSIL and Sentenial have inflicted.

I topped up in late Jan when the PSCIL wind down was announced, looking to top up again today as the Sentenial sale was an earlier defined trigger point. Hoping that with both out of the way, EML can refocus and go back to becoming the growth company it was, hopefully that much wiser about making dumb-arsed acquisitions in the future!

Discl: Held IRL and in SM.