Reviewed my tax statement for my holdings this FY24 which was generated by Praemium

They think I hold WAM Global which took over Templeton a couple of years ago without knowing I took the cash instead of taking WAM shares.

Now they think I receive WAM dividends

Not good at all.

Funny the price is up today despite the mistake.

I guess all these expensive wealth platforms are a buy even if they make a mistake like this.

Stop doing the buyback and fix your systems!

Just quickly

Market cap 253m

NPAT 8.8m FY24

PE 28x

And I only get 8% rev growth ?????

I swear these funds platforms are damn expensive even at the small end

And people are buying Shares up more than 20% and up today

Looks like Praemium undergoing some recovery after large sell down from an update relating to negative EBITDA growth and cost increases

Coupled with the ongoing and relatively high rate of inflation that persists, it is expected that operating costs in this current half year will be around 10% higher than the previous half year – i.e. January to June. The one- off, non -recurring costs are expected to amount to around $1 million over the full year.

Based on the impact of these costs and the revenue margin decline mentioned earlier, we currently expect that EBITDA for the first half of FY24 will be approximately 20% lower than the corresponding half last year.

Shares down to all time low of 36c from 58c but now recovered to 44c

There is also an ongoing buyback happening.

Remember that PPS received a takeover from NWL. Would NWL be interested again? Seems interesting here given the history for anyone interested in takeover arbitrage.

The other question is who sold down the shares indesicriminately to 36c last week. Could be Vanguard being the largest holder but there hasn't been an update as yet.