ARMnet Limited is an Australian company incorporated for the purposes of purchasing 100% of Axcess Consulting Group Pty Ltd.
The Axcess Consulting Group’s core business is the ARMnet Platform.
Axcess Consulting is a well established business with more than 40 clients in North America, Australia, Asia and the United Kingdom.
It is a trusted provider with over $100 billion of client assets being serviced by the ARMnet Platform.
The ARMnet Platform has enjoyed the security of multi-year contracts, has a high customer retention rate and strong growing revenues with a total growth rate of 119% over the last 3 years and at a rate of 97% over a 5 year period.
The ARMnet Platform is an innovative cloud-based integration and processing software platform as a service – known in the industry as an “iPaaS” servicing the financial services sector worldwide.
The ARMnet Platform is used by large corporate clients in the insurance, non-bank mortgage lending and funds management sectors.
ARMnet is the first iPaaS company in Australia seeking to list on the ASX.
What problems does ARMnet Platform solve?
Financial institutions globally utilise multiple systems across a wide range of functions, and as most of these systems can’t or often won’t talk to each other, this creates delays, costs and errors.
Simply, the ARMnet Platform helps complex organisations integrate, manage and move data to the cloud and digitally transforms their business.
The ARMnet Platform dramatically reduces a client’s costs and saves time through its ability to translate, integrate and automate data ingested from the client’s various software systems (such as finance, sales and marketing and customer support software applications).
This allows multiple systems and processes to work together in a unified way for its clients’ data and information use.
The ARMnet Platform comprises a customer relationship management (“CRM module”) for financial product management including an origination portal for assets, software interchange programs and workflow engines that are built on an industry standard Microsoft .NET framework.
The platform is cloud based, which means that it is accessible via smart phones, tablets or email from anywhere at any time.
The ARMnet Platform combines software applications, data and media channels in an open architecture platform that provides an integrated solution for each phase of a financial services business from marketing, sales, user interaction, asset processing and financial reporting throughout to back office management.
The design of the ARMnet Platform provides flexible product modules and simple configuration.
This provides clients with the option to use the ARMnet Platform as an “out of the box” software product or as a fully configurable and customizable software product to suit specific business and product needs
ARMnet Limited (ACN 619 705 207) is issuing 42,500,000 New Shares at an Offer Price of $0.20 each to raise $8.5 million with up to $2.5 million of oversubscriptions and the admission to the Official List of the ASX.
The offer of the securities are made in, or accompanied by, a copy of the Disclosure Document which can be obtained by clicking on the "ACCESS DISCLOSURE DOCUMENT" button on this page.
Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the Disclosure Document.
Before making an investment decision, potential investors should read the Disclosure Documents entirely, and seek professional financial advice.
Investors should be aware that there are risks associated with an investment in this Company.
No assurance can be given that the Company will achieve commercial viability through development of its Platform.
A complete set of risks associated with an investment in the Company is included in Section 8 of the Disclosure Document.
Key Offer Statistics
|Min. Subscription||Max. subscription|
|Total cash proceeds from the Offer||$8,500,000||$11,000,000|
|Number of new shares to be issued under the Offer||42,500,000||55,000,000|
|No. shares held by existing shareholders||32,496,912||32,496,912|
|No. Options on issue at the date of the Prospectus||5,890,397||5,890,397|
|No. Performance Options on issue as at the date of the Prospectus||13,188,235||13,188,235|
|No. Alignment Options issued after the date of the Prospectus||5,963,022||6,493,022|
|No. Shares to be issued under and at the Completion of the SPAs||55,000,000||55,000,000|
|Total No. Shares on issue at the Completion of the Offers and the SPAs||129,996,912||142,496,912|
|Indicative market cap at completion of the offer and the SPAs||$25,999,382||$28,499,382|
Note: Please refer to the Disclosure Document for further details on the capital structure.
A number of Shareholders holding 73,487,724 Shares on Completion of the Offer will be under escrow arrangements for up to 24 months from the Listing Date. These persons include Related Parties, Promoters and other persons that the ASX requires to be restricted from selling their Shares.
The Axcess Consulting Shareholders will also be under escrow for 100% of their Vendor Shares for 24 months from the Listing Date.
The total escrowed shares represent 51.57% of the Company’s issued capital at the Listing (if the Maximum Subscription is reached). Please refer to Section 9.6 of the Disclosure Document for further details.
Historical pro forma historical consolidated income statements
Pro Forma historical consolidated income statements:
Pro Forma Balance Sheet:
|Min. Raise ($)||Max. Raise ($)|
For further details on the company's financial statements, please refer to the Disclosure Document.
Use of Funds
As one of the purposes, the proceeds raised in connection with this offer will be used to execute a clear global growth strategy.
This will include the opening of dedicated sales offices in the United Kingdom and North
America and expanding sales and business analysts in Australia and increasing the expenditure on marketing.
In addition, some proceeds will be used to acquire Axcess Consulting under the SPAs (as outlined in Section 9.4.1), to retain quality personnel, to provide sufficient working capital
and to cover all costs for the Listing. Please refer to Section 2.3 of the Disclosure Document for further details on the use of proceeds.
|Event||Date and Time|
|Broker Firm Offer Close||12 Feb 2020|
|Closing Date||19 Feb 2020|
|Issue of New Shares||21 Feb 2020|
|Expected Dispatch of Holding Statements||24 Feb 2020|
|Shares expected to begin trading on ASX||26 Feb 2020|