Motus Holdings Limited (JSE:MTH) is looking for acquisitions. Osman Arbee, Chief Executive Officer & Executive Director said, "On the capital allocation, these are the key ingredients: Working capital, car rental, CapEx, dividends, share repurchase and strategic acquisitions. Now when our debt to equity was low, we went for the share buyback, then we did the acquisition.

But that doesn't mean we're going to be in this mode forever. So if you're going past 2024 where hopefully, you'll have the full acquisition income, which this year, you won't have full. About '24, you'll have everything.

These are cash-generative business, so the debt-to-equity will come down. Either we'll do more acquisitions if they come our way, or the share buyback will still be an option. So it's not one or the other.

We're just opportunistic businessmen that look at the opportunity and what works for us. If we get the acquisition, we're going to go for it. The share buybacks are not out of the reach, we will do that as well, so that will continue.

And then like I said, selective acquisitions. I mean, we're always looking. And is there another NPD in the pipeline?

No. There will be bolt-ons in the pipeline, and we're looking at 2024, we look at a big acquisition as well.