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Passive investment pays for Stargroup

Perth based listed ATM machine operator Stargroup has benefited from a 19.25% passive investment in leading independent Korean ATM machine manufacturer NeoICP.

Stargroup recently announced that NeoICP had booked a profit before interest,  tax, depreciation and amortisation for the 2015 financial year of AUD$1.66m.

NeoICP’s latest book value of its net assets is AUD$26.6m potentially making Stargroup’s carrying value for its 19.25% share in the company of just $938k out dated.

Stargroup recently announced they may seek to revalue their stake in NeoICP sometime this year given its solid profit performance and significant net asset position.

NeoICP, who are one of the largest independent ATM manufacturers in Korea, also own a 12.25% strategic stake in Stargroup who are the exclusive NeoICP ATM machine distributor in Australia.

NeoICP have produced a unique “recycler ATM machine” that allows customers to both withdraw and bank money creating a continuous fee generating money loop.

Stargroup have exclusive rights to the recycler ATM machine as part of the Stargroup/NeoICP Australian distribution agreement.

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Stargroup (STL)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/10/18

1 year TSR5 year TSR
129thEve Investments40%1%
304thAgrimin3%79%
621stPLC Financial Solutions-42%-41%
837thStargroup-84%-17%
744 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

09/08/17
$12k Bought
27/06/17
$0 Other
27/06/17
$35k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

214th-PLC Financial Solutions$20k
215th↓Eve Investments$19k
216th↓Stargroup$17k
217th↓Agrimin$15k
218th-Kabuni$10k
239 listed industrial companies ranked by revenue.
Source: Morningstar

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