SiteSoft - Final ASX Listing Offer
Subscribers to my News newsletter will have read the recent Update showing SiteSoft’s plans for listing on the ASX. The company is using a SAFE method of investing which limits the downside for the investor and allowing them to benefit on the upside.
ubscribers to my News newsletter will have read the recent Update
showing SiteSoft’s plans for listing on the ASX. The company is using a
SAFE method of investing which limits the downside for the investor and
allowing them to benefit on the upside.
This provides a profitable incentive for anyone interested in becoming a shareholder in SiteSoft to take up the current Offer now.
The reason why we at TBK like this company so much is that:
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It is a SaaS company which continues to show exceptional growth and is already cashflow positive.
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The Health and safety sector is growing particularly fast also.
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It has an excellent board including its Chairman Phil Norman - founding chairman of Xero and Randy Redding who was part of the founding team at Square (a $75bil company from Silicon Valley).
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It has strong and experienced management.
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Its gross Profit is 98% as it owns all its own software.
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It is signing up some of the biggest and best companies in Australia and NZ in a number of sectors eg Auckland DHB recently.
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It is already launching internationally with offices in Auckland, Sydney, Melbourne and shortly London.
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Net Revenue retention is 100%.
ASX listing
The soft launch into the UK via their Partner Program, has delivered
several new clients, including Loudounhill and EM&I. These are
currently being implemented by their ANZ team with support from a UK
partner.
They’re working closely with the ASX for a Reverse Take Over ( RTO ) of
an existing listed company which has $6.5mil in the bank and which will
fund the growth of the company over then next 2 to 3 years.. They’ve
already received the positive news of an in-principle acceptance of the
listing on the ASX. The executive team are now working on a timeline to
list mid-way through the 2023 calendar year.
They do not expect any future call on shareholders in the next few years
as this listing will capoitalise them for the growth required. The 1
exception to this is if they have an attractive M&A or growth
opportunity in the future that they like then this would be put to a
shareholder vote at the time for your consideration.
Capital raise
This Capital raise is done by way of the SAFE Note.
They already have over NZ$1.25mil committed and are looking for a
further NZ$250k. Part of this is because the ASX is encouraging further
shareholders ( Spread ). This will cover all anticipated ASX related
costs.
An ASX listing would give shareholders liquidity, and assuming the
current growth they’re having upside on the shares. While the larger
shareholders will be escrowed for a period, the SAFE shareholders will
not. Accordingly, the metrics of the SAFE note instrument will bring
downside protection and potential for significant upside for
shareholders under both the RTO and a liquidity/equity event scenarios.
Reply to this for more information and a copy of the IM.
..................................................................................................
The above investment is not an offer of financial products that
requires disclosure under the Financial Markets Conduct Act 2013 (Act)
and is available only to wholesale investors as defined by that Act. It
is intended for distribution only to selected people to whom, under the
relevant laws, it can be lawfully distributed. It cannot be distributed
in any other jurisdiction, or to any other people. It is not an offer or
solicitations in any jurisdiction in which such offers or solicitations
are not authorised, or in which the person making such offers or
solicitations are not qualified to do so, or to any person to whom it is
unlawful to make such offers or solicitations. Any representation to
the contrary would be unlawful. No action has been taken by any person
that would permit a public offering in any jurisdiction where action for
that purpose would be required.
Cheers
John Paine B.Sc., Dip BIA
TBK Capital Limited
Level 10,120 Albert Street
Auckland 1010, New Zealand
Phone +64 9 307 3257
Mobile +64 21 902 901
Email john.paine@tbkcapital.co.nz
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