EVO - Evolve Education

[DarkHorse]

Is anyone still following this now it's only on the ASX? Any thoughts?

[nztx]

Is anyone still following this now it's only on the ASX? Any thoughts?

It seemed to like the brighter sunshine over the way last time the balloon went up

Be interesting see how much of the Share Register is still Kiwi holders, if there are any Kiwi Imputation credits left

[nztx]

The last Release:

Embark Early Education (ASX:EVO)
Announcement Re Acquisition Of 9 Centres, Dividend And Debt Funding
Acquisition Of Nine Centres
=======================

The Board of Embark Early Education Limited is pleased to announce that conditional contracts have
been executed for the acquisition of nine childcare centres. These contracts are subject to customary
conditions such as transfer of license/lease assignment and are expected to settle from mid March
through to late April:
9 centres Five centres in Victoria. Four centres in Queensland.
Total LPs 917 licensed places.
Occupancy All centres experience high occupancy.
EBITDA Annualised forecast at $6.3m.
Price $25.2m.
Funding Expected to be funded from cash reserves and operating cash flow.
Extra Costs EVO expects to employ one more Support Office staff.

Dividend
=======
The Board of Embark Early Education Limited has resolved to pay a dividend of AUD0.015 (one and a
half cents) per share as an interim dividend for the second half of FY2023. This dividend will be fully
franked. The ex-div date for the will be 5 March 2024; the record date will be 6 March 2024; and the
payment date will be 26 March 2024.

Debt Funding
===========
The Board of Embark Early Education Limited is pleased to announce that Embark is in receipt of a bank
Credit Approved Facility for $20m based on past financial performance. This facility would be available
for further acquisitions.

Looks like the promised land is quite prosperous after dumping the NZ Operations before departing NZX


Another 1.5c AU shot out the door to the eagerly waiting stakeholders on 26 March 2024

[sb9]

Another robust trading update from Embark today, coupled with another divvy hitting the bank a/c. Wonder why its stock in the 65c-69c range for a long time.

[Leemsip]

Yeah, I have a small parcel of these. 13% divi?

[Balance]

Another robust trading update from Embark today, coupled with another divvy hitting the bank a/c. Wonder why its stock in the 65c-69c range for a long time.

Massive turnaround since they exited NZ and going from strength to strength. Been quietly adding onto my holdings as I like the alignment of interests of shareholders with shareholding directors/management and enjoying the dividend yield - 7c in the last 10 months!

Going to take marker a while yet to warm up to the stock given how disappointing it had been but that’s to be expected. Almost inevitable that at a certain size, major shareholders will facilitate sale to one of the bigger players to realise optimal value.

[Leemsip]

I hate getting oz dividends. Cant use the franking so get taxed twice....

Yeah hope so re: takeover. Fingers crossed.

[Balance]

I hate getting oz dividends. Cant use the franking so get taxed twice....

Yeah hope so re: takeover. Fingers crossed.

Such is life but think of how attractive EVO for Australian yield investors - should mean a better sp in time.

It's like investing in Australian banks - same deal.

[Balance]

Nice big move by EVO today.

Fingers crossed that the market saw yesterday’s update as the inflection point for this stock.

Previous stock movement upwards had been stalled and reversed due to lack of conviction.