Projects } TBK Capital

An Australasian Pre-IPO Offer

SiteSoft International Limited is an EHS (Environment, Health and Safety) business which has been providing its customers a New Zealand Cloud SaaS platform and app provider since 2017.

SiteSoft International Limited is an EHS (Environment, Health and Safety) business which has been providing its customers a New Zealand Cloud SaaS platform and app provider since 2017.
Regulatory standards in New Zealand, Australia and increasingly throughout the world, require all encompassing workplace management where everyone who attends is covered by a risk management plan, regardless if they are an employee or sub-contractor.
SiteSoft seeks to combine with Lucidity Software of Australia to form a business that will provide one seamlessly configured system that engages all users. That’s from workplace mobile sign in using Geo-Location and QR Codes, to other benefits including contractor management, custom forms, inductions, and communications.
Lucidity Software has strengths in Enterprise EHS forms and customers.  Sitesoft has strengths with mobile devices, location tracking and subcontractor customers.  Integration will be accomplished simply via API with joint sales and marketing.  Importantly, they each have Covid functionalities in place.
Their mission is to enable businesses to create a safe environment for everyone who attends the users’ workplace. The NZ Worksafe regulator is prosecuting business owners and managers to push business responsibility; for example the business operators and management responsible for White Island eruption and Ports of Auckland fatalities.
To accomplish this SiteSoft International has developed proprietary software that provides users the ability to report incidents and hazards - all the way to compliance, training, pre-starts and inspections.
Unlike their competitors, the applications are market agnostic and are being used throughout New Zealand and Australia by household names; ranging from SMEs to large enterprises, with minimal churn.

An Australasian market
The business has identified the following 6 growth areas in Australia and New Zealand and internationally:

  • Property - Facilities Management for Office & Industry; Body Corporate.
  • Construction – building; heavy & civil engineering; construction services.
  • Local and State Government.
  • Healthcare – hospitals, health care services, residential care
  • Aged care and social assistance.
  • Content – including film sets 
The intention is to list the Company on the Australian stock exchange in 2022.

The Offer
Meanwhile SiteSoft is offering institutions here - and those who qualify as Wholesale Investors (similar in both countries) - the opportunity to invest in a Convertible Note issue.
A form of financial instrument which, by the way, I think is an excellent form of equity investment not offered enough in New Zealand.
The objective of this Issue is to complete the purchase of the complementary Australian business, Lucidity Software.
This would then give SiteSoft the ability to:
  • Accelerate the organic growth and international expansion of the Company.
  • Prepare the Company for an IPO to raise A$8-$10 million on the Australian Stock exchange (ASX) in the first quarter of next year.
An Information Memorandum is now being prepared. In the meantime the details of the Convertible Note Offer will include:
  • The conversion into ordinary shares in the Company will be at the earlier of a mandatory liquidity event – like an IPO or the sale of the Company; at a 25-35% discount to the valuation of the shares in the company at the time of conversion dependent on timing.
  • No interest will be paid during the term of the CN.

A full Information Memorandum will be ready in the next few days. Email me at if you’d like a copy. Otherwise I’m happy to take exploratory phone calls or emails.

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.


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


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