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 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.
- 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 john.paine@tbkcapital.co.nz if you’d like a copy. Otherwise I’m happy to take exploratory phone calls or emails.
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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
For more information, please click the contact button below to send us a message.
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