PPS -0.34%: the investment platform business hosted their AGM today with two key areas in focus. While business is chugging along nicely through the first quarter, the key focus was on 1. any news around the divestment of the international arm and 2. an update regarding a potential new bid from Netwealth. The CEO said that they were in the final phase of the sale saying legal and separation terms, a positive update however they also implied that there was only one serious buyer in the mix which may weigh on the price. Management was less open around the Netwealth proposal, essentially saying there would be a price that would entice but it remains business as usual for now.
MM is marginally bullish PPS around $1.50
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