Also keep in mind that, through the acquisition of DR Solicitors, the dependency on M&A activity has significantly decreased. The company is now less cyclical than before, with management guiding for only one-third of income to come from M&A-related activities in FY26.

2/2.
- Additional acquisitions in legal specialisms appear to be planned.

- As expected, M&A activity has returned to normal levels.

Ich vermute es geht durch. Scheinbar haben sie mit einigen größeren Aktionären gesprochen.

2/2 "Having considered the Possible Offer, the Kinovo Board has indicated to Sureserve that it is at a value the Board would be minded to recommend to Kinovo shareholders"

www.londonstockexchange.com/news-article...

of the cash flow report is bullish, which aligns with the company’s usual messaging style. That said, there's little room for excuses in Q4.

2/2... growth strategy.”

"During the first quarter of this year, we have seen a significant increase in bidding activity. We therefore anticipate experiencing the benefits of this positive momentum throughout this year and into next year."

6/6
▪️At the end, he essentially states that they have potential acquirers lined up in case the market doesn’t value the company the way he believes is fair.

5/6... dividends due to tax considerations.

▪️Based on their own data from ADT before the acquisition, there’s almost no correlation between a recession and the number of customers.

▪️The last third of the interview offered valuable insight into the investor and person Dennison Hambling.

4/6... nature in Australia
- Additional recurring revenue in New Zealand

▪️Q3 includes one-off effects due to refinancing, which were expected. Q4 will be the first clean quarter without major one-offs.

▪️Capital Allocation: Beyond tuck-in acquisitions, Dennison prefers buybacks over...

3/6...- Video guarding: 4,000 AUD installation + 120 AUD/month for monitoring
- Cost base: 18 AUD (standard) vs. 25 AUD (video guarding)

▪️Only 10–15% of the business is non-recurring.
- 80 million AUD are fully recurring
- 60 million AUD in commercial enterprise revenue of a recurring...

2/6... significantly from a technological standpoint, lacking innovations such as Edge AI and video monitoring.

▪️The unit economics of video guarding are four times stronger than those of a standard residential customer:
- Standard: 2,500 AUD installation + 40 AUD/month for monitoring