SPY - Smartpay Holdings

[AceSee]

Hi team, any thoughts on the Smartpay SPP? Share price has gone up over the last month or so and even after the announced the SPP at 42c! I bought some shares in them precovid so will end up taking the offer. But i cant explain the current increase!

[Joshuatree]

A rising tide lifts all boats as peat was saying elsewhere and talk of The verifone deal could be back on with the increase in contactless payments making the NZ business even more valuable.

[sb9]

Should be back to 70c soon as per below update...

https://www.nzx.com/announcements/354507

COVID-19 Trading Update

Australia - We are pleased to confirm that with the further easing of restrictions over the past week, our aggregate transactional revenue has recovered to 95% of pre COVID levels.We note that we have one merchant category which is still restricted from trading which accounts for the remaining 5% of aggregate transactional revenue. When this final category resumes trading we expect to be back at 100% of pre COVID levels.

New Zealand - As the primary revenue driver in our NZ business is terminal rental,our NZ business has shown itself to be extremely resilient through the COVID-19 period. With the NZ COVID lockdown restrictions now ended (other than for international travel), we are seeing a rapid resumption in terminal usage by our merchants.

[Joshuatree]

And this should help make up folks minds re taking up their SPP

New Zealand Commerce Commission Clearance Obtained

[sb9]

Big over subscription for SPP, asked for A$ 2ml, applications received for approx A$ 11.95ml nearly 6 times more. Going to be a massive scale back...

[Joshuatree]

S/P jumps in response up 8c to 59.5 c atm.

[sb9]

Price on par at 60c close both for NZX and ASX as of last week

[chuggie]

Solid report - https://www.nzx.com/announcements/355105

[sb9]

Solid report - https://www.nzx.com/announcements/355105

Pretty startling numbers for Aussie side of business

[sb9]

Total revenue from contracts with customers for AU grew to $11.8ml in 2020 from $4.5ml in 2019.

That's all it matters for now...