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Punchcard baron Jack Matthews has ticker problem
Joe AstonColumnistYou'd hope Fairfax Media's former metro mastheads boss Jack Matthews would be a stickler for typos and other assorted solecisms. The sprawling broadsheet empire, as it was when he left it in 2013, had nearly as many subeditors as readers (which, by the way, was a lot).
The following year Matthews invested in, and became chairman of, listed mobile coffee punchcard platform Rewardle, based in Perth, whose equities traded as celestially as 40¢ early last year, but are now a lowly 4¢, representing a piddling market cap of $8.5 million. Rewardle lost $4.5 million in FY16 compared to $6.3 million in FY15. Weak volumes at the Fairfax cafeteria? Who'd have guessed.
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