Only noticed recently that there seems to be lots of performance rights being issued.
Usually not a big deal. But the volatility in the share price and falls in the IO price this past week is a cause for concern.
I also don't see the instos (Wilson Asset Management and Regal) that opened their wallet in the last capital raise as substantial holders meaning they probably could have come in the raise for a quick profit.
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When the price of an acquisition is too good to be true it sometimes is I guess?
Would be bad if the acquisition did fall through.
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Doing a quick summary here....
Vysarn is at 154m market cap with NPAT of 7.96. This is now at PER of 19.4x
Revenue grew only 17% versus 40% in the previous year. Although this was from a higher base than FY23
Also corporate expenses ticked up 720k more than last year.
Can understand why it was sold on the news.
Much of the upside now hinges on the implementation of the water supply business in WA
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