Paygroup Ltd (PYG:ASX)

Last update - 14 November 2022 By Rivkin

PayGroup Limited is an Australia-based company engaged in providing payroll solutions and human capital management (HCM) solutions to the corporate, contractor and franchise sectors across Asia-Pacific. The Company operates through three segments: PayAsia, Astute and IWS

Current advice: Closed.

Latest recommendation: 14 November 2022, 12:15pm

Further to last week’s update about the conclusion of the PYG investment, we did learn after that announcement that the scheme amount had been adjusted to $0.99147 per share, down from $1.00. A reduction based on new share issues had been alluded to in the scheme documentation, but this is the first we have heard about the adjustment since then which is frustrating. Having said that, the annualised return remains attractive and we will move on to the next opportunity with a 4.4% arbitrage in the bank.

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