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  1. #4441
    Membaa
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    Quote Originally Posted by sb9 View Post
    I’m leaving it to the last minute as just in the process of mobilising some funds.
    Your money has to be in their bank by 5pm tomorrow, don’t leave it too long!

  2. #4442
    learning to see in the dark
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    Quote Originally Posted by Mel View Post
    FYI, close is tomorrow (24 Nov) at 5pm - before anyone panics and thinks they may have missed the cutoff!!
    Blimey yes thanks Mel, though perhaps it freaked some into action! Sorry for any confusion

  3. #4443
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    Quote Originally Posted by Hello123 View Post
    Taken from a post on HC by wellingtongal.


    Plexure has successfully closed an oversubscribed bookbuild for its $32 million underwritten placement and aims to list its shares on the ASX on November 25.
    A $5m non-underwritten share purchase plan announced alongside the placement will kick off today and close the day before the listing.
    Chief executive Craig Herbison said he was confident Plexure, a marketing specialist with technology designed for quick service restaurants and retailers, would have a new enterprise customer sign-up to announce in the new year.
    The placement is conditional on the success of Plexure’s application for an ASX foreign exempt listing.
    Herbison said he was confident the listing would go off without a hitch and the oversubscribed placement suggested it would be a strong launch.
    “We are still awaiting ASX approval on one part of it, but there’s no significant barriers that we have seen at this point.”
    Plexure had previously planned to raise up to $54m from a public share offer in Australia. Herbison said the additional capital had been intended for mergers and acquisitions but these had not progressed to a point where the cash was needed, which was why the current placement and share purchase plan totalled only $37m.
    “Should that happen in the future, we will go back to the market to fund those.”
    With the additional capital and associated works planned, Herbison forecast Plexure would remain cashflow negative for the next two financial years, after which it would return to profitability.
    The company has turned only one profit since it was founded 10 years ago. The company posted a net profit of $1m in the year to March 31, before following up with a loss for the half to September 30 of $4.4m.
    New customer
    Herbison said the company was currently in the request-for-proposal stage with another large client overseas.

    He declined to get into specifics, but said the client was in the company’s existing target markets of grocery and quick-service restaurants and was not New Zealand based.
    “There are competitors in there but we are feeling confident.”
    The placement and share purchase plan are priced at $1.20 a share.
    After a trading halt was lifted this morning the stock was down 16c or 10% to $1.39 by lunchtime.
    Most of the money raised in the share offers will go on people, including sales staff, product developers and engineers.
    “We need more sales people to talk to markets that are at distance from us.”
    Boots on the ground
    Herbison said roughly $10.7m would go on customer expansion, which meant more sales staff and project and account managers.

    Herbison said feedback from large enterprise customers had been that Plexure needed more staff on the ground to deal with issues without the hassles of dealing with different time zones.
    If US growth continues as forecast, the company may open a corporate office.
    About $4.9m would support innovation, such as enhancements of artificial intelligence capabilities to better target advertising and basket analysis.
    There was $7.3m earmarked for expansion into new vertices and geographies, and $2m would go into scaling and increasing productivity.
    Roughly $8.8m would be held back as working capital.
    The company's placement presentation also stated $3m would go to paying off costs associated with the offer, and $2.1m would go to staffing to support scaling and productivity.
    The closed pool of talent created by Covid-19 border closures continued to plague recruitment, Herbison said.
    Commenting on the capital raise, Plexure chair Phil Norman said he was delighted the company had been able to close the placement quickly and that it had received strong support from Australian and New Zealand institutional, sophisticated and professional investors.
    Allotment of new shares under the share purchase plan will occur on November 27.
    An observation.
    SP $1.55. prior to placement.
    Along comes an underwriter who charges $3M to give away $32M candy at $1.20
    If the price was $1.55, they may have earnt it.
    The shareprice drops to @$1.35 now, meaning @ $28.3M of equity wiped out, and dilution.
    So now the existing s/holders are stumping up $5M, to pay $5.1M of costs to underwriter & admin.
    If the big new boys stag their shares at less than 12% gain, the little boys shout OUCH even louder!

    The price of progress eh?

    I hope the board & management of PiX1e treat this new capital with respect, and are less concessionary in their business dealings.
    Last edited by Getty; 24-11-2020 at 10:27 AM.

  4. #4444
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    Quote Originally Posted by Getty View Post
    An observation.
    SP $1.55. prior to placement.
    Along comes an underwriter who charges $3M to give away $32M candy at $1.20
    If the price was $1.55, they may have earnt it.
    The shareprice drops to @$1.35 now, meaning @ $28.3M of equity wiped out, and dilution.
    So now the existing s/holders are stumping up $5M, to pay $5.1M of costs to underwriter & admin.
    If the big new boys stag their shares at less than 12% gain, the little boys shout OUCH even louder!

    The price of progress eh?

    I hope the board & management of PiX1e treat this new capital with respect, and are less concessionary in their business dealings.
    You may well be right about possible dilution in the short term, however in the longer term PLX holders will be expecting new customer and/or partnership announcements which have the potential to make short term concerns a mere memory.

    (The CEO has stated that PLX expects at least 2 major client acquisitions per year...... let's see if they can deliver this and hope/trust that your last sentence proves correct.)

    Disc - hold and biased so DYOR.

  5. #4445
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    Just finished off my application online, let's see how much gets allocated.

  6. #4446
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    Quote Originally Posted by sb9 View Post
    Just finished off my application online, let's see how much gets allocated.
    Gosh that’s leaving it late, are you confident your payment will be in their bank before 5pm? Good luck

  7. #4447
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    Quote Originally Posted by Baa_Baa View Post
    Gosh that’s leaving it late, are you confident your payment will be in their bank before 5pm? Good luck
    Should be ok, talked to the lady @Computershare, all good.

  8. #4448
    learning to see in the dark
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    Well it's past 5pm, so now all the little PLX elves get together to read the wish lists of all the boys and girls who have hung up their stockings and are hoping to make a quick buck. What will they do if there are not enough shares for all the wish lists? Replace them with oranges? Coal? Or something less edible like vouchers for McDonalds? As the sun goes to bed and disappears for the night, the elves get out their cigarettes, brandy and calculators....

    Good luck everyone! And Merry Christmas (yeah I know early but stuff 2020 so who cares)

  9. #4449
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    And not long to wait, Offer shares are allotted on the NZX Main Board on Friday this week. Should find out pretty quickly how many SPP shares applicants got, with transaction statements issued on Monday.

  10. #4450
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    New name on NZX with PX1 and debut on ASX today, be interesting to see what its in store...

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