Trading halt was due to an upgrade.
Full Year guidance increased to $110-120M ($110 M previously).
EBITDA upgraded to $8.5-9 million (25% increase).
Management report VERY STRONG pipelines in place to support continued growth momentum into FY22.
DISC - I HOLD
Tranche 3 of performance rights have the following performance hurdle:
Tranche 3 will vest if the Company’s 90 Day VWAP up to and including 30 June 2021 is at least $0.55.
Will be interesting to see if this performance hurdle drives a good news cycle form management over the next month or so, as they are well short of the hurdle ATM.
Management Medium Term targets from their September Presentation. They have lowered the 2024 goal from 1200 to 1000 advisers recently, but are ahead 2021 target.
If this is what success looks like, then SEQ could easily have a market capitalisation over $400 M in 3-4 years. I would be happy if they get to $250 M by 2024.
SEQUOIA FINANCIAL GROUP ANNOUNCES 1H21 RESULT