Pulse Health Limited
(ASX:PHG) has hit out at Vision Eye Institute Limited
(ASX:VEI) target statement following Pulse’s takeover offer.
Pulse says the target statement misrepresents Pulse’s strategy and financial position as well as making unsubstantiated claims.
Some of the inaccuracies Pulse is objecting to include the omission of the recent acquisition of The Hills Clinic from earnings estimates as well as proceeds of a property sales to formulate a debt to earnings ratio.
Vision has also failed to provide a basis for its 2016 full year guidance and gives no information to substantiate claims of future growth.
Pulse reported a net profit of $1.26 million for the first six months of the 2015 financial year.
