TSK - TASK Group Holdings

[Baa_Baa]

Usually a dual listing ASX and NZX is beneficial for holders, however I suggest you read post 3862 above and ask yourself why is PLX wanting to allow the sale of $50 mill in 'new' shares and whether these additional shares would dilute the value of your existing shares?? As NZSA says...

"We believe on the face of the limited information a better option would be to keep the primary listing on NZX, and take a compliance listing on ASX and, if needed, raise additional capital from existing loyal shareholders."

Good answer lefty, I would want to know what they’re planning on spending 50 mill on before agreeing to the dilution. It’s a very aggressive cap raise proposition with insufficient consideration for what existing shareholders might think prudent.

That leads me to suspect that they wouldn’t have proposed the most aggressive path without having confidence that the largest shareholders are already onside with the proposition and it’s essentially a done deal already. That speaks volumes about future potential but marginalises us minnows.

Reading through that though it’s some what encouraging that of the three options open to them, notwithstanding shareholder support, they propose the most aggressive option, or most confident if you prefer:

1. Status quo stay listed on NZX
2. Primary on NZX and Secondary ASX
3. Primary ASX and abandon NZX

They must be supremely confident to be so aggressive, there’s something we haven’t been told. That something must be pretty exciting!

[Leftfield]

Good answer lefty, I would want to know what they’re planning on spending 50 mill on before agreeing to the dilution. It’s a very aggressive cap raise proposition with insufficient consideration for what existing shareholders might think prudent....
.......
They must be supremely confident to be so aggressive, there’s something we haven’t been told. That something must be pretty exciting!

I hope you are right.

PLX has already rewarded me v well so I'm not overly worried about NZSA's concerns.... IMO Investment is all about having faith in management and Board to carry out BAU and sleeping well at night!

That said as added insurance, I intend to write to PLX seeking a response re NZSA's concerns.

[tango]

Call me a cynic but I think the ASX share listing is all about copying XRO and pushing up the share price so the board and executives can make bank. if it pushes up the value of my portfolio that’s a plus but I want the opportunity to participate in any capital raisings ahead of new investors.

$50 million is a lot of money, and would either suggest a major new product development or company acquisition in the pipeline.

[carpfish]

Does anyone actually read the information available?

Current shaoreholders will be included in the cap raise. And it’s fairly clear what they want the money for any why...



Plexure’s strategy and three-year plan contemplates a focus on international growth. The Board considers that it may need up to A$50 million to facilitate the pursuit of this growth plan, which it considers will allow value accretive opportunities to be captured that would not be secured if the Company is constrained to working within its currently available capital reserves.
Assuming the IPO proceeds and the new capital is raised it will be used to accelerate development of the Company’s technology platform, enhance and add to the product set, acquire more people across all functions within the business, expand global sales and marketing activities and provide a pool of cash to potentially pursue merger and acquisition opportunities that leverage the overall growth agenda.
The reason that the Board has decided to investigate an IPO in Australia is because of the greater depth of capital markets in Australia and what the Board considers to be greater support provided in that market for growth companies such as Plexure. It is also expected to support enhanced liquidity for current and potential investors, and to increase Plexure’s attractiveness as an investment for overseas institutions whose mandates do not currently extend to the NZX. It is currently anticipated that should the Australian IPO proceed any Shares to be issued will be offered to institutional and retail investors in both Australia and New Zealand (including the Company’s existing shareholders) in reliance on the Australian Corporations Act 2001 (Cth) and the mutual recognition regime set out in the New Zealand Financial Markets Conduct Act 2013.

[Hello123]

Does anyone actually read the information available?

Current shaoreholders will be included in the cap raise. And it’s fairly clear what they want the money for any why...



Plexure’s strategy and three-year plan contemplates a focus on international growth. The Board considers that it may need up to A$50 million to facilitate the pursuit of this growth plan, which it considers will allow value accretive opportunities to be captured that would not be secured if the Company is constrained to working within its currently available capital reserves.
Assuming the IPO proceeds and the new capital is raised it will be used to accelerate development of the Company’s technology platform, enhance and add to the product set, acquire more people across all functions within the business, expand global sales and marketing activities and provide a pool of cash to potentially pursue merger and acquisition opportunities that leverage the overall growth agenda.
The reason that the Board has decided to investigate an IPO in Australia is because of the greater depth of capital markets in Australia and what the Board considers to be greater support provided in that market for growth companies such as Plexure. It is also expected to support enhanced liquidity for current and potential investors, and to increase Plexure’s attractiveness as an investment for overseas institutions whose mandates do not currently extend to the NZX. It is currently anticipated that should the Australian IPO proceed any Shares to be issued will be offered to institutional and retail investors in both Australia and New Zealand (including the Company’s existing shareholders) in reliance on the Australian Corporations Act 2001 (Cth) and the mutual recognition regime set out in the New Zealand Financial Markets Conduct Act 2013.

Very true i was wondering about the whole capital raising myself as i did remember thinking that they mentioned we current holders would get a chance to participate in this.

So we will be given the opportunity in a capital raise, it will be listed on the ASX which will be beneficial to SP and Plexure can continue its growth strategy.

Im all for it at this point.

[yuj4]

This might be my first post on this forum and I have always been reading post with the past 7 years and learnt a lot from people here like balance, leftfield etc.

List on ASX helps to speed up the growth strategy and it brings more attention. it also helps to attract more institution and fund manager's support and build solid foundation for plexure.

I have been doing lots of research for similar companies like plexure such as OLO (targeting small restaurants and hotels) and toast in the states. (OLO recently partnered with google is also looking for pre-IPO this year valuing the company for 1 billion US dollars)

OLO is targeting 40 times revenue for its pre-IPO last time I did research.

If you look into those two companies and you found their targeting customers are restaurants but not QSR or Groceries where plexure has more customer concentration but darn good customers.

Comparing with other growth companies, plexure is still cheap, and fewer competitors in QSR sector. Plexure is trying to crack into the grocery mobile marketing field similar fundamental how it got Mccas onboard. Ahold Delhaize might be the target behind the scene for plexure not super indo if anyone is interested in reading below.

At the end of the day, investing is about having faith in the company and I hope the ASX can come true to bring more sophisticated investors on board.

Established in 1997, Super Indo has over 170 stores located across Indonesia, Super Indo is majority owned by Ahold Delhaize, which has a 51 per cent stake in the company. Ahold Delhaize is one of the world’s largest grocery retailers and a global leader in e-commerce. It operates more than 6,500 stores across the United States, Europe and Indonesia, and serves more than 50 million shoppers each week.

[winner69]

Maybe one of those $5m for existing shareholders and $45m for new investors or the big end of town

That covers of existing shareholders 'will be included'

[tango]

Maybe one of those $5m for existing shareholders and $45m for new investors or the big end of town

That covers of existing shareholders 'will be included'

Agree. They will do a book build first with the major institutions who will offer it to their clients and we will fight over the rest and be scaled back.

I want existing shareholders to get first pick without being scaled!

[sb9]

Agree. They will do a book build first with the major institutions who will offer it to their clients and we will fight over the rest and be scaled back.

I want existing shareholders to get first pick without being scaled!

I think they should do what IKE did recently, offer a portion to Instos aka big boys and announce a rights offer to existing shareholders, that way retail holders need not fight on over crumbs.

[tango]

I think they should do what IKE did recently, offer a portion to Instos aka big boys and announce a rights offer to existing shareholders, that way retail holders need not fight on over crumbs.

We got lucky with Ike. We got our full rights issue and 90% of the oversubscription

I think all SPP should be rights issues. It’s fairer. It also stops all those Sharesies buyers from buying 1 share in each company so that they can participate in every SPP and get as many shares as people who own 10,000 or 100,000