TSK - TASK Group Holdings

[Brain]

Nonsense, there's 63,976 shares on Ask right this minute ranging from $1.44 to $2.04

The $1.44 shares were snapped up quickly

[nevchev]

The $1.44 shares were snapped up quickly
Crikey!theres no stopping it

[Skene]

Crikey!theres no stopping it

At $1.50 we're 13% up today after a hell of a run. Pleasantly surprised to see not more profit takers slowing us down.

*disclaimer: no issue with profit taking at all

[mikeybycrikey]

Crikey!theres no stopping it

I just sold a fairly large chunk and the SP just keeps rolling uphill. Will be interesting to see where it goes when PLX actually announces something concrete like sales projections, or cap raise details.

[tango]

Crikey!theres no stopping it

Makes me very happy I topped up yesterday.

[speedski]

with over 400k sold today I would have to say JSwan is on the money there are literally no sellers out there

Looks like its finally settling, decent few sellers around the 1.45- 1.47 range

[baaantom]

Hi all, could someone please enlighten me as to what happens to your shareholding when the de-listing occurs? Does the company purchase the shares off the shareholders and then subsequently arrange for the ASX IPO?

TIA

[Hello123]

Hi all, could someone please enlighten me as to what happens to your shareholding when the de-listing occurs? Does the company purchase the shares off the shareholders and then subsequently arrange for the ASX IPO?

TIA

I thought it was going to be a dual listing?

[silverblizzard888]

Hi all, could someone please enlighten me as to what happens to your shareholding when the de-listing occurs? Does the company purchase the shares off the shareholders and then subsequently arrange for the ASX IPO?

TIA

Its not delisting at all. The primary listing may change to the ASX, but the share will still traded on NZX too.

As per the recent announcement:
"This may involve Plexure moving its primary listing from the New Zealand Stock Exchange (NZX) to the ASX and re-classifying its current NZX listing as an NZX Foreign Exempt listing, which would allow its shares to continue to be quoted on the NZX."

[baaantom]

Cool, thanks guys.

[Nigelk]

Despite the great run of the last few days, I still think PLX is well-priced.
A MC of $207M = 7.6X ARR plus cash on hand.
That's not bad compared to it's peers, especially when you consider 50% growth and that Super-Indo only went on in Feb, so cost of sale incurred, but very little revenue earned to the end of the fiscal.
I've been a happy holder/ accumulator since December 2018, buying in at .23 initially, right through to topping up at 0.95 last month due to my belief it's still well-priced and well-positioned for much further growth.

[Hello123]

do you guys think its run could stop around the 1.50 mark for the rest of the month untill Septembers AGM? 1.21-1.48 is a great increase, hopefully just a small taste of the future for this stock.

[sommelier]

If anyone hears any news from analysts or any price targets from the professionals please share!

[Baa_Baa]

If anyone hears any news from analysts or any price targets from the professionals please share!

Personally I really don’t care what analysts or so called professionals think, following them has cost me a lot of money and lost opportunity in past year’s. That’s been one of those hard earned ‘lessons’ none of us really want to concede to having paid for.

There’s no way I’m joining the ask queue at a measly $1.50, this has years to run up multiples from here. This is a keeper imo and that’s my strategy fwiw atm. I’ll continue to accumulate as funds permit buying into the upside story. That won’t change until the story changes.

Gltah

[tango]

Personally I really don’t care what analysts or so called professionals think, following them has cost me a lot of money and lost opportunity in past year’s. That’s been one of those hard earned ‘lessons’ none of us really want to concede to having paid for. .

Gltah

I too have learned the hard way that the so called expert advisors are very hit and miss and it’s been costly.

I like PLX and plan to hold. It is in a strong position to grow. It has strong competition, but it’s moving fast and has a clear strategy and strong implementation

[JSwan]

I too have learned the hard way that the so called expert advisors are very hit and miss and it’s been costly.

I like PLX and plan to hold. It is in a strong position to grow. It has strong competition, but it’s moving fast and has a clear strategy and strong implementation

Remember when GTK, ZEL and THL were a “STRONG BUY”?

Edit: And SKT

[tango]

Remember when GTK, ZEL and THL were a “STRONG BUY”?

Edit: And SKT

I do! In fact some of the biggest failures were in the Herald brokers picks for 2020! Pretty sure VGL and GTK were in there. VGL May recover. GTK is not looking promising
Edit: might have been2019 brokers stock picks

[BlackPeter]

Personally I really don’t care what analysts or so called professionals think, following them has cost me a lot of money and lost opportunity in past year’s. That’s been one of those hard earned ‘lessons’ none of us really want to concede to having paid for.

There’s no way I’m joining the ask queue at a measly $1.50, this has years to run up multiples from here. This is a keeper imo and that’s my strategy fwiw atm. I’ll continue to accumulate as funds permit buying into the upside story. That won’t change until the story changes.

Gltah


I too have learned the hard way that the so called expert advisors are very hit and miss and it’s been costly.

I like PLX and plan to hold. It is in a strong position to grow. It has strong competition, but it’s moving fast and has a clear strategy and strong implementation


I do! In fact some of the biggest failures were in the Herald brokers picks for 2020! Pretty sure VGL and GTK were in there. VGL May recover. GTK is not looking promising
Edit: might have been2019 brokers stock picks

Just lets face it: Nobody is able to predict future stock prices. NOBODY. This is true for professional analysts as well as for any investor. Including all of us. Some are lucky, some are not, and most of us get it sometimes right and sometimes wrong. Same as the analysts.

Still - While I am not too much interested into the analysts price target, it is often interesting to understand their rational for whatever number they come up with. Gives one just another perspective on the company one wants to invest in (or not).

Re PLX: Sure, currently the market mood seems to be favorable. This is actually a dangerous time ... many companies used to be in this situation and while some made stellar advances, many crashed down into the ground. I am fearful when others are greedy.

Lets face it - I don't know (and neither does anybody else) whether this is the next Diligent, Xero or A2M - or whether it is the new Wynyard, Gentrack or PEB (though latter are rising again ...). All we know is that at this particular point in time investor greed (or FOMO) seems to be greater than investor fear. These feelings though tend to be cyclical and, as analyst recommendations, sometimes right and sometimes wrong :):

Ah yes, while we are talking about PLX ... I see this years PE is above 100, their three year forward PE (based on the estimates of said erroneous analyst forecasts) is 33, while their past is obviously negative (as start ups tend to). Revenue CAGR though is around 50 ..; not too bad.

Still - what investors at this stage are buying is a story and the hope the company won't make a wrong step.

Discl: interested enough to have them on my watch-list, but not buying at current, which (with the benefit of hindsight) at some stage may or may not turn out to be a mistake :);

[keenkiwiflyer]

Up to 1.55 now! Just think, a few weeks ago they were struggling to break 0.97!

[mikeybycrikey]

Just lets face it: Nobody is able to predict future stock prices. NOBODY. This is true for professional analysts as well as for any investor. Including all of us. Some are lucky, some are not, and most of us get it sometimes right and sometimes wrong. Same as the analysts.


Good analysis here. The number of misses that analysts have more shows how hard it is rather than how bad they are. At the moment I would take any serious analysis of PLX I could get my hands on. We really don't know much about the company or where they are heading. Or even what value they provide for customers.

Investing isn't a solo sport but more a team effort of sharing views. Adding analyst views helps everyone, especially since they can dedicate time, resources and access that I just don't have.

[tango]

Just lets face it: Nobody is able to predict future stock prices. NOBODY. This is true for professional analysts as well as for any investor. Including all of us. Some are lucky, some are not, and most of us get it sometimes right and sometimes wrong. Same as the analysts.


Fair point but my biggest losses, other than GTK which I bought at IPO and continued to hold when I should have sold, are all from expert advice on investments

[sommelier]

I seem to recall PLX being on a number of those stock pick lists. About 5 years ago though.

[nevchev]

Fair point but my biggest losses, other than GTK which I bought at IPO and continued to hold when I should have sold, are all from expert advice on investments
Lets face it,investing is gambling on future circumstances. We can but try to adjust the odds through research and analysis

[sommelier]

A million $ before midday... I thought we were approaching a Friday pullback but obviously not. Maybe the tech hysteria in the states is helping.

[Hello123]

A million $ before midday... I thought we were approaching a Friday pullback but obviously not. Maybe the tech hysteria in the states is helping.

Looks like a pretty sold sell wall at 1.53-1.56 might pull back a bit?

[bull....]

A million $ before midday... I thought we were approaching a Friday pullback but obviously not. Maybe the tech hysteria in the states is helping.


probably look at some of the tech names on the asx going ballistic. just the other day one i had 5gn doubled in price virtually over a week. so i think plx on asx would be good

[Hello123]

Solid resistance at 1.50.

[keenkiwiflyer]

Not bad for sell off Friday. Was expecting more early 1.40s.

Again, just a few weeks ago this was priced at 0.97. This has been a great journey. I was thinking though, still no sales guidance from the CEO.. haha

[Hello123]

Not bad for sell off Friday. Was expecting more early 1.40s.

Again, just a few weeks ago this was priced at 0.97. This has been a great journey. I was thinking though, still no sales guidance from the CEO.. haha

Yes same here 1.50 is more than enough of an increase till the AGM on 2nd of September.

[Mel]

PLX have a solid product/solution offering, and a concern with PLX is the extent to which their product is easily scalable, given the level of customisation necessary at an individual customer level (and therefore investment of labour at an individual customer level to sell, design and deploy) - vs Xero/Pushpay as counter-examples who have a SaaS product offering that just scales more easily and investment in the product occurs moreso at a generic product level. Hence, I have my reservations on the PLX SP having a large multiple applied to it - but again, I could be completely incorrect and eating humble pie in future!

Discl: tracking the stock and had some strong interest in acquiring @ ~$1 but did not purchase (unfortunately) and do not hold any currently.

[tango]

PLX have a solid product/solution offering, and a concern with PLX is the extent to which their product is easily scalable, given the level of customisation necessary at an individual customer level (and therefore investment of labour at an individual customer level to sell, design and deploy) - vs Xero/Pushpay as counter-examples who have a SaaS product offering that just scales more easily and investment in the product occurs moreso at a generic product level. Hence, I have my reservations on the PLX SP having a large multiple applied to it - but again, I could be completely incorrect and eating humble pie in future!

Discl: tracking the stock and had some strong interest in acquiring @ ~$1 but did not purchase (unfortunately) and do not hold any currently.

Customer acquisition and retention is everything and AI powered products such as PLX are a growing market. You can’t really compare it to XRo. It’s a different product proposition. XRO is targeting SMEs. PLX is targeting large companies with large budgets and marketers who have wet dreams about having this amount of data and flexibility at their fingertips. Once they learn how to drive this software they will be hooked.

The only real risk is that there are other software companies offering similar solutions. Competition is an issue. This is a sexy industry and there are some great products out there. Plexure needs to go hard and fast to establish an international reputation as the go to system

[Hello123]

Its interesting There is all ways large buy outs at the end of the day between 1.48-1.50 exceeding 50K in volume, its happening once again.

[sommelier]

In the States pundits look at at end-of-day trades as a clue to what the big institutions are buying and selling.

[Hello123]

In the States pundits look at at end-of-day trades as a clue to what the big institutions are buying and selling.

I wonder if we will see it again this afternoon.

[tango]

No huge sales but a few decent sized parcels going through at the end of the day

Price Volume Time
148 30,000 17:03 SP
148 34 16:36
148 648 16:33
147 20 16:31
148 134 16:25
148 673 16:24
148 27 16:23
148 7 16:18
147 2 16:14
148 27 16:11
148 2,020 16:09
147 81 16:02
148 25,852 15:59
148 30,000 15:59

Total volume for the day 307,398 shares
Value $454,653

[Cadalac123]

Bunch of insto's probably piling in pre cap raise for the ASX listing

[Leftfield]

Company update issued. See it here. (https://www.nzx.com/announcements/357796)

Revenue up 18%. Rapid expansion and staff hires has resulted in a loss of $1.1m for the period...... but all going on course for great things. Proceeding with listing on ASX.

As always....DYOR.

[nevchev]

Unimpressed!

[whatsup]

Unimpressed!

Following in the footsteps of XRO & ATM, should be an interesting move imo.

[Cobber]

Company update issued. See it here. (https://www.nzx.com/announcements/357796)

Revenue up 18%. Rapid expansion and staff hires has resulted in a loss of $1.1m for the period...... but all going on course for great things. Proceeding with listing on ASX.

As always....DYOR.

I thought I might buy back into PLX if there was a drop in share price because of Covid announcement.... not anymore!!

These guys are listing on ASX cos they need a longer runway of capital for their loses.

[nevchev]

Following in the footsteps of XRO & ATM, should be an interesting move imo.
Its not even in the same ballpark let alone the game.Comparing plx to xro and atm is way off

[sommelier]

Whats it going back to? 1.00?

[Justin]

With current SP everyone expecting more than 50% revenue increases and double or triple the profit.

[bull....]

might buy back in near a dollar got a bit ahead of itself following nasdaq run

[whatsup]

Its not even in the same ballpark let alone the game.Comparing plx to xro and atm is way off

Was never comparing to ATM or XRO but as you well know , listing in Aust is a far more mature market than N Z and if PLX hits its straps will be far greatly rewarded than here in N Z --- big word that " if " .

[Cadalac123]

Kind of funny companies releasing updates today , great timing

[nevchev]

Kind of funny companies releasing updates today , great timing
Had to happen with plx.it got to far ahead of itself.Momentum trading at its best

[Cobber]

Had to happen with plx.it got to far ahead of itself.Momentum trading at its best

Agreed. Only growing at 18% YOY with loses. So the growth story has evaporated pretty quickly. They also have a list of McDonald's competitors they can't entertain as clients. So I think I'll sit on the sideline for a bit.

[mfd]

Considering some of the revenue is transaction based, and the reported quarter covers the most extreme lockdowns in most of the world, the results don't look bad to me. Still plenty of growth ahead of them.

[nevchev]

No apparent support above a dollar!

[bull....]

terrible result , growth not high enough

[pg0220]

Considering some of the revenue is transaction based, and the reported quarter covers the most extreme lockdowns in most of the world, the results don't look bad to me. Still plenty of growth ahead of them.
Didn't they say they changed the fee structure to country-based with Maccas? I am not too sure what it exactly means, but it sounded like they moved away from a transaction-based model with Maccas.

[Hello123]

Buyers jumping in for a bit might push it back to 1.30.

[Leftfield]

No apparent support above a dollar!

That's not what the depth says.....


terrible result , growth not high enough

Traders will Trade. Holders will Hold (or top up.) Business as usual IMHO.

[mfd]

Didn't they say they changed the fee structure to country-based with Maccas? I am not too sure what it exactly means, but it sounded like they moved away from a transaction-based model with Maccas.

Both are true. They have contacts with each country McDonald's operates in, rather than a single overall contact. They have also been trying to transition the terms to more transaction based rather than fixed revenue. I presume that the more recent countries to sign up with Plexure have transaction based contracts and earlier countries do not, but I haven't actually seen that reported.

[Cobber]

Based on these results.... they are heading for a loss of over $4 million per year on revenue's of $30 million. All of that money I thought they would use for an acquisition is getting gobbled up for increased expenses.

[sb9]

Seems as though weak hands are being flushed out...

[Hello123]

Seems as though weak hands are being flushed out...

I sold about 20% of my holding this morning throwing it in PEB at 0.66 still looking forward to Plexures AGM on 2nd september.

If they get it right still a wonderful future ahead.

[Justin]

I don’t think there are some surprise on AGM, only good news is they sign some new customers.

[porkandpuha]

Great mexican stand off on the bid/ask right now with 13 buyers higher than the last, but a 4c gap in the buy/sell

[Hello123]

White castles users are much lower then the other companies only 20k.

[Leftfield]

I sold about 20% of my holding this morning throwing it in PEB at 0.66 still looking forward to Plexures AGM on 2nd september.
If they get it right still a wonderful future ahead.

In the years ahead it is going to be interesting to watch these two. Hard to pick a winner at this stage.....In the meantime, not a silly move to 'hedge your bets'.

[Brain]

In the years ahead it is going to be interesting to watch these two. Hard to pick a winner at this stage.....In the meantime, not a silly move to 'hedge your bets'.

PEB will beat Plexure by a country mile.

[Mel]

PEB will beat Plexure by a country mile.
Have to agree, PEB have gained good traction and not subject to the same competitive pressures as PLX - potential upside for PEB still remains significant IMHO.

[Mel]

I am keeping a watchful eye on PLX (as they do have a good product in a relatively congested market), although I didn't think that their latest results were particularly inspiring.

[BlackPeter]

In the years ahead it is going to be interesting to watch these two. Hard to pick a winner at this stage.....In the meantime, not a silly move to 'hedge your bets'.

Yes, remember the good old days when we were wondering how to spread our funds across the exciting newbies PEB, WYN and GTK to get the biggest bang for our buck? Must be by now something like 10 years ago. One of them (WYN) lost all of the shareholder funds and the other two are - while still around - both ways under their IPO prices.

But hey, this time it will be different :t_up:;

[Cobber]

PEB will beat Plexure by a country mile.

How many years are you talking about cos there is daylight between PEB and PLX right now in terms of revenue and global market penetration.

There is also daylight between PEB's own revenue and mounting losses.

I'd be putting my money into Laybuy before them, at least their revenue is growing 100% YOY.

[whatsup]

Poor suckers who were conned into selling today on slim volume down .07 for the day, nothing special there as the whole market is down today due to the U S coming off .

[bagel]

Why are we selling PLX? Weak hands being flushed out indeed

[Brain]

How many years are you talking about cos there is daylight between PEB and PLX right now in terms of revenue and global market penetration.

There is also daylight between PEB's own revenue and mounting losses.

I'd be putting my money into Laybuy before them, at least their revenue is growing 100% YOY.

Within a couple of years PEB should start hitting their straps. PLX will still be in a position where Mc Donald’s are still their dominate customer. They will find it hard to find new customers that will have a significant impact on their business. This SAAS company seems to be very labour intensive and is in a competitive market. They have done very well to get this far.

PEB have a moat and a very low COGS and a product that should see a huge demand along with testing capacity to service that demand.

Disclosure - hold both shares will be looking to reduce PLX further. Will not be adding to PEB because it is already 15% of my portfolio.

[Toulouse - Luzern]

Is this an organisation making more money for their customers than themselves?

[Leftfield]

Yes, remember the good old days when we were wondering how to spread our funds across the exciting newbies PEB, WYN and GTK to get the biggest bang for our buck? Must be by now something like 10 years ago. One of them (WYN) lost all of the shareholder funds and the other two are - while still around - both ways under their IPO prices.
But hey, this time it will be different :t_up:;

I also remember the 'old' days of ATM and XRO. Indeed much of my time is spent looking for 'the next XRO or ATM'.

It's interesting that PEB first entered my 'watch list' on 7 Jan 2013. At that time it was 67c. v yesterdays price of 67c!!
(ATM up 3,700% in the same time).

PLX entered my watch list more recently, 1 Oct 2018 at 17.5c. Since then the SP has grown 711%.

So in the comparison between PEB and PLX, at this stage PLX is a clear winner (as it is in my portfolio) HOWEVER as we all know, the past doesn't always predict the future.......

(Disc - hold both)

[Justin]

I also remember the 'old' days of ATM and XRO. Indeed much of my time is spent looking for 'the next XRO or ATM'.

It's interesting that PEB first entered my 'watch list' on 7 Jan 2013. At that time it was 67c. v yesterdays price of 67c!!
(ATM up 3,700% in the same time).

PLX entered my watch list more recently, 1 Oct 2018 at 17.5c. Since then the SP has grown 711%.

So in the comparison between PEB and PLX, at this stage PLX is a clear winner (as it is in my portfolio) HOWEVER as we all know, the past doesn't always predict the future.......

(Disc - hold both)

I think a major event must happen to trigger the stock price to go up, like McDonald’s purchase 10% of PLX. And PEB on the way as well.

[Justin]

Is this an organisation making more money for their customers than themselves?

Look like lose money to serve their customers at current period

[mfd]

There is a clear runway for growth, and the recent growth in expenses is preparing for that. McDonald's will provide the growth for now, but here's an interesting fact - the parent company of super Indo (Ahold Delhaize) is far larger by revenue than McDonald's - revenue of over 60 billion euros Vs McDonald's 20 billion dollars. If Plexure do a good job with super Indo and can spread through the associated supermarket chains across the world, there is enormous potential. Super Indo have 171 stores, the wider group has nearly 8,000.

Secondly, we were told in the recent update a significant number of new hires was into sales and marketing. This company is not standing still, they are actively looking to sign up new companies.

[bull....]

Look like lose money to serve their customers at current period

yes it was not a good result. to expand on what i said yesterday even though sales are up 18% first quarter based on comparable revenues $ last year if you factor a full year result based on comparable i get only a 6 - 7% increase in sales for the full year this would be a marked decrease in sales growth. they will need to increase sales hugely the remainder of the year to beat last years increase in sales.
actually the smoothed trend of sales growth is flat since 18.

so at todays prices at the rich p/e of greater than 150 theres a lot growth factored into the price so they need to deliver. also remember the price is inflated due to nasdaq bull market so when that pops one day plx will go down with it. all very important risks to aware of.

[Justin]

yes it was not a good result. to expand on what i said yesterday even though sales are up 18% first quarter based on comparable revenues $ last year if you factor a full year result based on comparable i get only a 6 - 7% increase in sales for the full year this would be a marked decrease in sales growth. they will need to increase sales hugely the remainder of the year to beat last years increase in sales.
actually the smoothed trend of sales growth is flat since 18.

so at todays prices at the rich p/e of greater than 150 theres a lot growth factored into the price so they need to deliver. also remember the price is inflated due to nasdaq bull market so when that pops one day plx will go down with it. all very important risks to aware of.

PE on negative now

[Hello123]

https://www.youtube.com/watch?v=ZEB_7C7eb-8

[bull....]

PE on negative now

yahoo says 201 , gee im low at 150 odd lol so according to yahoo your paying 200 years of earnings today to buy at this price

https://nz.finance.yahoo.com/quote/PLX.NZ/news/

[Justin]

yahoo says 201 , gee im low at 150 odd lol so according to yahoo your paying 200 years of earnings today to buy at this price

https://nz.finance.yahoo.com/quote/PLX.NZ/news/

The increase in costs due to growth investment has resulted in a loss before interest, tax, depreciation and amortisation of $1.1 million for Q1 FY21.

Yahoo still use the data from Fy2020

[bull....]

The increase in costs due to growth investment has resulted in a loss before interest, tax, depreciation and amortisation of $1.1 million for Q1 FY21.

Yahoo still use the data from Fy2020

im assuming pe on a full year , but your right on a quarterly basis.
im guessing they are looking to pick up revenue in following quarters to pay for the increased costs.
as saying yesterday the big sell off was because the markets not happy with the results this quarter because it flat quarter on quarter they need some big sales to get the revenue rise on last year to justify the current stock price.

[Hello123]

SP taking a bit of a beating this morning.

[winner69]

Q1 sales up 18% on pcp

But Q1 Gross Margin only up 11% on pcp


Hardly growth to rave about

So remains a believe the story stock

[nomis]

Q1 sales up 18% on pcp

But Q1 Gross Margin only up 11% on pcp


Hardly growth to rave about

So remains a believe the story stock

And believe the story I do, Just took another parcel this morning and ill take the gift on hand.
Growth is fast, and nothing wrong with sacrificing some short term profits to continue the growth at current rates.

[Hello123]

And believe the story I do, Just took another parcel this morning and ill take the gift on hand.
Growth is fast, and nothing wrong with sacrificing some short term profits to continue the growth at current rates.

Hopefully 2nd of September gives us something to be excited about.

[nomis]

Hopefully 2nd of September gives us something to be excited about.

im rather optimistic about that, Whilst everything else going on seems so pessimistic

[bull....]

im rather optimistic about that, Whilst everything else going on seems so pessimistic

growth was only up 18% on the same quarter last yr , on the previous quarter its flat. at the current rate yr on yr it be bad , so they really need some good quarters going forward

[bull....]

also on the charts it was at a rsi of over 80 on the dailies / weeklies , so that was a warning to be careful at around 1.50

[CamNZ]

Some support forming in the $1.20-1.28, will the SP keep falling and go below it?

[Leftfield]

Some support forming in the $1.20-1.28, will the SP keep falling and go below it?

Agree.......I reckon $1.20 will be the key resistance point. GLH. PLX needs to prove that all the 'new hires' can generate profitable revenue before this one takes off again (or makes news with sneaky M & A or a major new client.)

[bagel]

new video from plexure - https://www.youtube.com/watch?v=ZEB_7C7eb-8&feature=youtu.be some pretty encouraging statistics https://media.discordapp.net/attachments/707816483572547627/743772923772272680/unknown.png?width=1110&height=564

[Hello123]

[QUOTE=bagel;836307]new video from plexure - https://www.youtube.com/watch?v=ZEB_7C7eb-8&feature=youtu.be some pretty encouraging statistics https://media.discordapp.net/attachments/707816483572547627/743772923772272680/unknown.png?width=1110&height=564[/QU

Yes, these results will speak louder then words when coming to obtain new customers.

[BlackPeter]

new video from plexure - https://www.youtube.com/watch?v=ZEB_7C7eb-8&feature=youtu.be some pretty encouraging statistics https://media.discordapp.net/attachments/707816483572547627/743772923772272680/unknown.png?width=1110&height=564

Oh dear ... just another push into the arm for the obesity epidemic? Do we really need bigger baskets? More fries and more super large burgers with extra cheese?

Though actually - great stuff for the shareholders ... and maybe plexure needs to look after their fast food roll out at serving hospitals next (to pre-order extra large hospital beds with super strong nurses to lift and turn big people) and subsequently undertakers ... after enjoying these bigger baskets at McDonalds people will need extra big caskets as well to rest in peace.

Sorry - couldn't resist ... and obviously - it might just be that the people who tend to buy anyway more of this tasteless and unhealthy food are just more likely to install an ordering app - i.e. correlation does not mean causation.

[Baa_Baa]

Oh dear ... just another push into the arm for the obesity epidemic? Do we really need bigger baskets? More fries and more super large burgers with extra cheese?

Though actually - great stuff for the shareholders ... and maybe plexure needs to look after their fast food roll out at serving hospitals next (to pre-order extra large hospital beds with super strong nurses to lift and turn big people) and subsequently undertakers ... after enjoying these bigger baskets at McDonalds people will need extra big caskets as well to rest in peace.

Sorry - couldn't resist ... and obviously - it might just be that the people who tend to buy anyway more of this tasteless and unhealthy food are just more likely to install an ordering app - i.e. correlation does not mean causation.

It’s the super Indo app … that’s a supermarket, not a fast food chain

[bull....]

[QUOTE=bagel;836307]new video from plexure - https://www.youtube.com/watch?v=ZEB_7C7eb-8&feature=youtu.be some pretty encouraging statistics https://media.discordapp.net/attachments/707816483572547627/743772923772272680/unknown.png?width=1110&height=564[/QU

Yes, these results will speak louder then words when coming to obtain new customers.

isnt this just showing that app members are influenced more easliy to spend than non -app members. not anything to do with them obtaining new members

[keenkiwiflyer]

But it provides a great case study and reference for potential customers..

[bull....]

But it provides a great case study and reference for potential customers..

guess so if your into having your bank balance reduce quicker

[winner69]

new video from plexure - https://www.youtube.com/watch?v=ZEB_7C7eb-8&feature=youtu.be some pretty encouraging statistics https://media.discordapp.net/attachments/707816483572547627/743772923772272680/unknown.png?width=1110&height=564

But does Plexure cash in (monetise)on these amazing numbers?

[Hello123]

[QUOTE=Hello123;836310]

isnt this just showing that app members are influenced more easliy to spend than non -app members. not anything to do with them obtaining new members

But presents a great case for businesses to pick up Plexures product if its going to give results like this.

[Hello123]

But does Plexure cash in (monetise)on these amazing numbers?

Thats the question.

[bull....]

But does Plexure cash in (monetise)on these amazing numbers?

thats the key. sli systems had a similar web based selling system didnt they?

[zs_cecil]

But does Plexure cash in (monetise)on these amazing numbers?

This could be a question to ask in the shareholder meeting. The annual report stated that most of the existing customers are charged by store-based. Only new customers are charged based on active usage.
We can ask the CEO if SuperIndo is under this new customer category.

[Hello123]

Had a good week so far 1.42 now started 1.30 yesterday big volume purchases too.

[CamNZ]

New things to come?

"Have you taken time during quarantine to work on a passion project? We have! Some exciting updates around the corner... stay tuned to our channels for more." - Plexure on LinkedIn
https://www.linkedin.com/posts/vmob-ltd_have-you-taken-time-during-quarantine-to-activity-6701287706204483584-NAuG

[Hello123]

new video from plexure - https://www.youtube.com/watch?v=ZEB_7C7eb-8&feature=youtu.be some pretty encouraging statistics https://media.discordapp.net/attachments/707816483572547627/743772923772272680/unknown.png?width=1110&height=564

Seems the video has now been removed from YT.

[Baa_Baa]

New things to come?

"Have you taken time during quarantine to work on a passion project? We have! Some exciting updates around the corner... stay tuned to our channels for more." - Plexure on LinkedIn
https://www.linkedin.com/posts/vmob-ltd_have-you-taken-time-during-quarantine-to-activity-6701287706204483584-NAuG

There’s also a great plain English insight into their use of AI, check the website directly. Very progressive and technically it’s great to see the leverage of the underlying Microsoft technologies coming from their business relationship formed back in 2015/16.

I’m very interested in the focus on their SuperIndo app. Assuming the great marketing stats are sustainable, this grocery supermarket sector Globally is just unbelievably massive, it makes McDonald’s by itself look small by comparison.

[winner69]

Found this from a few years ago

Still true?

[sb9]

Couple of big crossings to kick off proceedings, could be from lat night..



142
88,956
09:36
LA


142
1,600,000
08:36
LA

[sommelier]

What does LA mean?
The following details the various conditions for NZX trades:

IN
LT
OS
OL
PF
SP
SS
WA
XX
International
Late Reported
Overseas
Market Trade (too small for price setting)
Portfolio Marriage
Off Market
Short Sell
Weighted Average
Extra-ordinary
The following details the various conditions for ASX trades:

Transaction Types

AM
BK
BP
BV
BW
BZ
CT
CO
CX
DR
EC
EP
LN
LR
PO
PR
PS
PT
IA
ASX match facility trade
Buy back
Booking purpose only
Book value switch
Buy write
Board broker sale
Combination trade
Standard combination trade
Centre Point
Direct reporting
Exercise of Call
Exercise of Put
Loan
Loan return
Permitted Trade During Pre-Trading Hours Period
Prompt re-booking
Prompt Sale
Put through
Interstate Accounting

Time or Location

LT
ON
OS
Late
Overnight
Overseas

Delivery

EF
FD
OF
OR
BL
Delivery of a future
Forward delivery
Overseas delivery
Overseas resident
Blocked from transaction netting

Market Information Only

MI
Market Information

Crossing/Special

XT
IB
SP
CS
SX
SO
SA
Crossed trades
Index replicating special crossing
Special sale
Contingent special
Special sale portfolio
Other special sale
Special crossing sale

[sb9]

Not 100% sure, but LA refers to Late Crossing I think..

[Hello123]

So 3rd of September will be their AGM involving there interim results and maybe some new business?

Possibly some news on the progress to ASX also?

[Leftfield]

So 3rd of September will be their AGM involving there interim results and maybe some new business?
Possibly some news on the progress to ASX also?

In an interesting development re the possible ASX listing, the NZSA proxy votes at the AGM will oppose the resolution to issue $A50 mill worth of shares to assist the ASX listing. Here's what the NZSA says;

"The company recently announced it is considering listing on the ASX and may move its primary listing from the NZX to the ASX. The details are set out in the Notice of Meeting. We comment as follows.

· The company appears to be getting good recognition in its home market and has shown good share price growth.

· We note that the company had $14m cash/term deposits at balance date with no debt. In addition, it seems to generate reasonable levels of operating cash flow ($4.5m). After adjusting for capitalised development costs and property/equipment purchases, free cash flow was still around $1.5m.

· Over the past few months there have been several successful capital raisings on the NZX indicating the company could raise additional capital from its existing shareholders. NZSA believes that wherever possible existing shareholders should be given the opportunity to increase their investment. Only after that should a company seek capital from outsiders.

· The Board have not presented a robust business case for seeking to list on the ASX and raise capital on that market. Indeed, their statements suggest an investigation is yet to be undertaken to determine the merits of the proposal. The company’s latest announcement just two weeks ago contains no further information beyond referring to “...the company’s decision to accelerate growth investment ...”

· Given that the company has engaged Australian advisors there must be more information and shareholders have a right to expect it be shared with them.

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.

For these reasons we will vote undirected proxies AGAINST this resolution."

Must say I agree with NZSA and will be making sure they have my proxy vote. Well done NZSA.

[sb9]

In an interesting development re the possible ASX listing, the NZSA proxy votes at the AGM will oppose the resolution to issue $A50 mill worth of shares to assist the ASX listing. Here's what the NZSA says;

"The company recently announced it is considering listing on the ASX and may move its primary listing from the NZX to the ASX. The details are set out in the Notice of Meeting. We comment as follows.

· The company appears to be getting good recognition in its home market and has shown good share price growth.

· We note that the company had $14m cash/term deposits at balance date with no debt. In addition, it seems to generate reasonable levels of operating cash flow ($4.5m). After adjusting for capitalised development costs and property/equipment purchases, free cash flow was still around $1.5m.

· Over the past few months there have been several successful capital raisings on the NZX indicating the company could raise additional capital from its existing shareholders. NZSA believes that wherever possible existing shareholders should be given the opportunity to increase their investment. Only after that should a company seek capital from outsiders.

· The Board have not presented a robust business case for seeking to list on the ASX and raise capital on that market. Indeed, their statements suggest an investigation is yet to be undertaken to determine the merits of the proposal. The company’s latest announcement just two weeks ago contains no further information beyond referring to “...the company’s decision to accelerate growth investment ...”

· Given that the company has engaged Australian advisors there must be more information and shareholders have a right to expect it be shared with them.

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.

For these reasons we will vote undirected proxies AGAINST this resolution."

Must say I agree with NZSA and will be making sure they have my proxy vote. Well done NZSA.

Thanks for sharing that lf, yes very interesting scenario playing out here.

[tango]

Thanks left field. I may give NZSA my proxy vote. It does annoy me when companies go out to the major institutions or new retail investors before offering the opportunity to existing loyal shareholders

[tango]

Left field... When the poll is taken at the shareholders meeting, if NZSA has proxies from 10 shareholders does that count as 10 votes or just 1 vote because they are voting as one block?

[Leftfield]

Left field... When the poll is taken at the shareholders meeting, if NZSA has proxies from 10 shareholders does that count as 10 votes or just 1 vote because they are voting as one block?

My understanding is that the number of votes = the number of shares held by the proxy arrangements (not the number of blocks) eg 3 proxies amounting to 1 mill shares each = total 3 mill shares or 3 mill proxy votes.

It allows NZSA to play amongst the bigger institutional voters (much more power than our individual votes IMHO.)

[tango]

My understanding is that the number of votes = the number of shares held by the proxy arrangements (not the number of blocks) eg 3 proxies amounting to 1 mill shares each = total 3 mill shares or 3 mill proxy votes.

It allows NZSA to play amongst the bigger institutional voters (much more power than our individual votes IMHO.)

Thanks. I've noticed in a lot of the meetings that the result is a simple poll and count of yay and nay rather than the number of shares. If it's a simple poll then maybe it's better to each vote separately. I need to research this!

[BlackPeter]

Left field... When the poll is taken at the shareholders meeting, if NZSA has proxies from 10 shareholders does that count as 10 votes or just 1 vote because they are voting as one block?

One vote per share, not per shareholder ;);

If shareholder A owns 1,000 shares and shareholder B owns 10,000 shares and both appoint the NZSA as their proxy, than the NZSA will hold 11,000 proxy votes.

Clear as mud?

[Leftfield]

Thanks BP confirms what I thought.

[tango]

One vote per share, not per shareholder ;);

If shareholder A owns 1,000 shares and shareholder B owns 10,000 shares and both appoint the NZSA as their proxy, than the NZSA will hold 11,000 proxy votes.

Clear as mud?

Yes! Thank you. Meanwhile I had been looking at the dark and murky legislation which said the same thing.
Right. Off to appoint NZSA to vote on my behalf. I often have internet connection issues with these annual meetings and I don't want to miss out on my vote being counted.

Thanks for the heads up Left Field!

[Hello123]

Where will the link to the meeting be posted?

[tango]

Where will the link to the meeting be posted?

Notice is hereby given that the Annual Meeting of Shareholders of Plexure Group Limited will be held online at web.lumiagm.com or by downloading Lumi AGM from the App Store or by Google Play Store for free (please use meeting ID 333-719-638) on Thursday 3 September 2020 commencing at 11:00am (remote entry will open at 10.30am NZST).

[BlackPeter]

Thanks. I've noticed in a lot of the meetings that the result is a simple poll and count of yay and nay rather than the number of shares. If it's a simple poll then maybe it's better to each vote separately. I need to research this!

Most companies will use hand signals only as indicative ... and still count (and publish) the number of votes. In any case - if the outcome of any vote in an AGM is controversial, shareholders can request that a poll is taken, and in that case the company is required to do so.

From the companies act 1993:



At a meeting of shareholders a poll may be demanded by—
(a) not less than 5 shareholders having the right to vote at the meeting; or
(b) a shareholder or shareholders representing not less than 10% of the total voting rights of all shareholders having the right to vote at the meeting; or
(c) a shareholder or shareholders holding shares in the company that confer a right to vote at the meeting and on which the aggregate amount paid up is not less than 10% of the total amount paid up on all shares that confer that right; or
(d) the chairperson of the meeting.

[Hello123]

Notice is hereby given that the Annual Meeting of Shareholders of Plexure Group Limited will be held online at web.lumiagm.com or by downloading Lumi AGM from the App Store or by Google Play Store for free (please use meeting ID 333-719-638) on Thursday 3 September 2020 commencing at 11:00am (remote entry will open at 10.30am NZST).

Thank you!

[Baa_Baa]

Need to get a wiggle on if you're voting, votes close 1st September 11:30am. Easiest way to do it is using your Compushare online, or faff around with the voting form.

[Cadalac123]

ASX listing with the minimal amount of information the CEO gives was always interesting, watching from the sidelines now haha

[tango]

Most companies will use hand signals only as indicative ... and still count (and publish) the number of votes. In any case - if the outcome of any vote in an AGM is controversial, shareholders can request that a poll is taken, and in that case the company is required to do so.

From the companies act 1993:

Thank you! Very helpful

[Hello123]

I thought listing on the ASX would be better for current shareholders as it could increase SP?

what are the benefits of keeping it only on the NZX?

[carpfish]

Seems pretty short sighted. Institutional investment on the asx will far surpass that available on the NZX. Who cares about a bit of dilution if the shareprice goes up. Phil Norman has the history with XRO to pull it off. There will still be shares available to current shareholders - what’s to lose??

[Leftfield]

I thought listing on the ASX would be better for current shareholders as it could increase SP?
what are the benefits of keeping it only on the NZX?

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."

[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

[Leftfield]

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..

Pleased to say I've had a quick response from PLX.


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.

Here's PLX's response FYI

"In terms of the reason why we are seeking capital – it is to grow the company. We have been very clear that for the last 3 years we have been focused on existing customers and being cashflow positive. However the market is growing and for us to participate in a meaningful way we need to grow as well and this is what the capital will be used for. In terms of getting it from Australia – we have talked with various sources (including NZ & the US) and have settled on Australia for a number of reasons (these will be explained in fuller detail by our Chairman).

Note that if we do go ahead there will be a priority pool for NZ investors."

So rest easy PLX holders, it seems we will fare well in any transition to ASX. As I said above..."Investment is all about having faith in management and Board to carry out BAU and sleeping well at night!"

[Hello123]

.



Here's PLX's response FYI

"In terms of the reason why we are seeking capital – it is to grow the company. We have been very clear that for the last 3 years we have been focused on existing customers and being cashflow positive. However the market is growing and for us to participate in a meaningful way we need to grow as well and this is what the capital will be used for. In terms of getting it from Australia – we have talked with various sources (including NZ & the US) and have settled on Australia for a number of reasons (these will be explained in fuller detail by our Chairman).

Note that if we do go ahead there will be a priority pool for NZ investors."

So rest easy PLX holders, it seems we will fare well in any transition to ASX. As I said above..."Investment is all about having faith in management and Board to carry out BAU and sleeping well at night!"

This is great looking forward to the AGM, it takes 19 weeks to get listed on the asx i wonder if they have started already!

[CanadianAussie]

In response to:

"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."


Firstly, they want to raise $50M for growth. They've brought on 2 board members recently with M&A experience and have been vocal about this. They're looking at acquiring a company and need $. Why anyone would be opposed to this with managements phenomenal track record of capital management is beyond me.

Secondly, the NZSA should be ashamed of themselves. This company will double or triple in value when the ASX gets whiff of it. As an ASX investor I'm so high on it I opened up an international account to buy before waiting for the ASX float. The NZSA wonders why they can't raise money on the NZX? Because raising $50M at a share price of $1.40 results in 35M more shares. Compare that to listing it on the ASX which will value it higher (I'll explain this below). Let's say conservatively the ASX values it double at $2.80. Raising $50M at this price results in 18M shares and HALF THE AMOUNT OF DILUTION. I'd question the NZSAs motives and who's best interests they have in mind.

Also I don't know what the NZSA is whingeing about, management has stated they'd give existing shareholders a chance to participate in the capital raise.

Why do I believe it will rerate at least double on the ASX? Because I've looked at over 250 micro and small cap ASX stocks and they're absolute trash compared to this company. The ASX will eat this company up. We have nothing like it; it's a bloody unicorn. To have a company 45% revenue growth 3 years in a row, profitable the last 2 (ignoring the issue of convertible notes), cash flow positive the last 3 (again convertible notes ignored) and have gross margins of over 75% is unheard of on the ASX at this price. Has anyone done a DCF on PLX? I have, it's crazy how much the NZX undervalues it.

Unless you like getting diluted more and making less money please, please, please don't vote against an ASX float.

[zs_cecil]

Could it be more likely a potential acquisition out there? Perhaps the target is an Australian company?

The explanation from the company on the ASX listing is still not very convincing to me unless there is a potential acquisition.
In terms of future growth, here are the scenarios I can think of:

1. Rollout to more McDonald stores in the world - I would worry if PLX ask for more money from the market to support this.
2. Hugh usage growth from Superindo - If the superindo deal is based on active usage, then we should see more cash inflow. it shouldn't need that much extra money.
3. A big big contract will be announced - Who knows....
4. Acquisition - The possibility is mentioned in the FY20 report.

[Leftfield]

Good first Post CanadianAussie.... welcome to the forum.

[Getty]

Welcome aboard Canadian Aussie, I love your enthusiasm, and I hope its equaled by your skill.

Re; has anyone done a DCF value, Shareclarity have, 12/8/20, and its only 53c vs current SP $1.41.

You infer DCF is way above that, so would you mind providing some substance?

Dr JPG

Tree SURGEONS have gone out on a LIMB.

[Brain]

I think a DCF on Plexure is only as good as the guesses and assumptions. For me I wouldn’t waste my time. Garbage in garbage out comes to mind. Investing or speculating on Plexure all amounts to believing in the product and management and whether or not the growth rate can be maintained. I have done well so far but I am very cautious about the future.

[forest]

[QUOTE=CanadianAussie;839770]In response to:
Also I don't know what the NZSA is whingeing about, management has stated they'd give existing shareholders a chance to participate in the capital raise.

Just to remind you that the present owners of PLX have all the right to have an opinion.
And I suspect that the thinking is not that they just like to participate, they more than happy to fork out the full amount for any foreseeable capital raise. That keeps the dilution to a minimum you see and give present shareholders the largest share of future profits.
Sorry NZSA members are a bit greedy.

[sb9]

In response to:

"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."


Firstly, they want to raise $50M for growth. They've brought on 2 board members recently with M&A experience and have been vocal about this. They're looking at acquiring a company and need $. Why anyone would be opposed to this with managements phenomenal track record of capital management is beyond me.

Secondly, the NZSA should be ashamed of themselves. This company will double or triple in value when the ASX gets whiff of it. As an ASX investor I'm so high on it I opened up an international account to buy before waiting for the ASX float. The NZSA wonders why they can't raise money on the NZX? Because raising $50M at a share price of $1.40 results in 35M more shares. Compare that to listing it on the ASX which will value it higher (I'll explain this below). Let's say conservatively the ASX values it double at $2.80. Raising $50M at this price results in 18M shares and HALF THE AMOUNT OF DILUTION. I'd question the NZSAs motives and who's best interests they have in mind.

Also I don't know what the NZSA is whingeing about, management has stated they'd give existing shareholders a chance to participate in the capital raise.

Why do I believe it will rerate at least double on the ASX? Because I've looked at over 250 micro and small cap ASX stocks and they're absolute trash compared to this company. The ASX will eat this company up. We have nothing like it; it's a bloody unicorn. To have a company 45% revenue growth 3 years in a row, profitable the last 2 (ignoring the issue of convertible notes), cash flow positive the last 3 (again convertible notes ignored) and have gross margins of over 75% is unheard of on the ASX at this price. Has anyone done a DCF on PLX? I have, it's crazy how much the NZX undervalues it.

Unless you like getting diluted more and making less money please, please, please don't vote against an ASX float.

Wow, what a bomb of debut post on ST. Very bullish prediction on PLX prospects, makes an interesting ASM to look forward to on Thu 3rd Sep.

[CanadianAussie]

zs_cecil - Management doens't need $50M to roll out to more McDonald's stores - PLX is profitable. They've stated this is to pursue growth/acquisitions. As for your point about SuperIndo if you wait for the cash to flow in it could be 10years before PLX has their software in all of Ahold Delhaize's (they "own" SuperIndo) supermarkets. Moving faster blocks competitors from entering the market.

Brain - I completely agree; however, some form of valuation has to be done. I've done both a DCF and a comparables and they both look great.

forest - I think you need to re-read my comment. You can have your cake and eat it too but only if PLX lists on the ASX. You're assuming NZ holders don't get to participate in the SPP/float. My understanding is management has said they will. My opinion is that if it lists on the ASX it will re-rate much higher than it's currently trading meaning LESS shares will be issued, resulting in LESS dilution. Again, I've looked at over 250 ASX small and micro caps and I have never seen a company with such a strong history of positively trending cashflow, revenue growth, ROIC, ROE, profit etc etc - I don't see them because they don't stay small caps on the ASX. Dalziel and Herbison have really turned this company around since the departure of Scott Bradley.

forest, if you're worried about a capital raise I suggest looking into ASX:NVX. They needed to raise $58.28M so they did a prorata 1:1 entitlement offer at $0.29 on May 29th. The share price at the time was $0.435. Keep in mind this was an ENTITLEMENT offer not a SPP (there's a big difference). I can't comment on how PLX is going to structure theirs; however, it would not surprise me if it's not a similar format given they have a specific $ they are aiming to raise.

Getty - With regards to my DCF see below. I'm no expert in DCFs so please take with a grain of salt; however, these are in line with my ASX comparables valuation. $4.38 is based on a 45% revenue growth over the next 5 years and is post raising $50M (ie post dilution). Base case (25% growth) is $2.02, Bull case (55% growth) is $6.08.

I'm going to stop commenting as I don't want to give the impression I'm ramping. But please don't follow along the NZSA without coming to your own conclusion based on the facts.



Assumptions
















Tax Rate

27.5%














Discount Rate

12%














Perpetual Growth Rate

4%














EV/EBITDA Mulltiple

8.0x














Transaction Date

22/08/2020














Fiscal Year End

31/03/2021














Current Price

1.41














Shares Outstanding

140,380,000































Capital raised from ASX IPO
50,000,000














Investment Bank IPO Fee
2.00%














Shares issued for ASX IPO

35460992.91














Shares Outstanding Post IPO

175,840,993































Discounted Cash Flow


Entry
2020
2021
2022
2023
2024
2025
Exit

Terminal Value



Date


22/08/2020
31/03/2021
31/03/2022
31/03/2023
31/03/2024
31/03/2025
31/03/2026
31/03/2026

EV/EBITDA

996,158


Time periods



1
2
3
4
5
6


Perp. Growth

1,143,655


Year frac



0.61
1.00
1.00
1.00
1.00
1.00
1.00

Average

1,069,906



















EBIT



4,643
25,785
37,837
55,435
81,233
118,949







Less: Cash Taxes



1277
7091
10405
15244
22339
32711







NOPAT



3,366
18,694
27,432
40,190
58,894
86,238







Plus: D&A



930
1,249
1,998
2,936
4,107
5,571







EBITDA



5,573
27,034
39,835
58,370
85,340
124,520







Less: Capex



1,000
1,000
1,000
1,000
1,000
1,000







Less: Changes in NWC


5,444
(11,932)
930
1,349
1,955
2,835







Unlevered FCFF



(2,148)
30,875
27,500
40,777
60,046
87,973
1,069,906























Transaction FCFF


0
(1,307)
30,875
27,500
40,777
60,046
87,973
1,069,906























IRR FCFF


(197,922,219)
(1,307)
30,875
27,500
40,777
60,046
87,973
1,069,906























Intrinsic Value



Market Value



Rate of Return







Enterprise Value

720,948,122

Market Cap

197935800

Current Price

$1.41






Plus: Cash

13,581

Plus: Debt

0

Target Price

$5.14






Less: Debt

0

Less: Cash

13,581

TP Upside

264.24%






Equity Value

720,961,703

Enterprise Value
197,922,219

IRR

-51%























Equity Value/Share

$5.14


Equity Value/Share
1.41



























Post ASX IPO
















Equity Value

769,961,703































Equity Value/Share

$4.38

[Cobber]

zs_cecil - Management doens't need $50M to roll out to more McDonald's stores - PLX is profitable. They've stated this is to pursue growth/acquisitions. As for your point about SuperIndo if you wait for the cash to flow in it could be 10years before PLX has their software in all of Ahold Delhaize's (they "own" SuperIndo) supermarkets. Moving faster blocks competitors from entering the market.

Brain - I completely agree; however, some form of valuation has to be done. I've done both a DCF and a comparables and they both look great.

forest - I think you need to re-read my comment. You can have your cake and eat it too but only if PLX lists on the ASX. You're assuming NZ holders don't get to participate in the SPP/float. My understanding is management has said they will. My opinion is that if it lists on the ASX it will re-rate much higher than it's currently trading meaning LESS shares will be issued, resulting in LESS dilution. Again, I've looked at over 250 ASX small and micro caps and I have never seen a company with such a strong history of positively trending cashflow, revenue growth, ROIC, ROE, profit etc etc - I don't see them because they don't stay small caps on the ASX. Dalziel and Herbison have really turned this company around since the departure of Scott Bradley.

forest, if you're worried about a capital raise I suggest looking into ASX:NVX. They needed to raise $58.28M so they did a prorata 1:1 entitlement offer at $0.29 on May 29th. The share price at the time was $0.435. Keep in mind this was an ENTITLEMENT offer not a SPP (there's a big difference). I can't comment on how PLX is going to structure theirs; however, it would not surprise me if it's not a similar format given they have a specific $ they are aiming to raise.

Getty - With regards to my DCF see below. I'm no expert in DCFs so please take with a grain of salt; however, these are in line with my ASX comparables valuation. $4.38 is based on a 45% revenue growth over the next 5 years and is post raising $50M (ie post dilution). Base case (25% growth) is $2.02, Bull case (55% growth) is $6.08.

I'm going to stop commenting as I don't want to give the impression I'm ramping. But please don't follow along the NZSA without coming to your own conclusion based on the facts.



Assumptions
















Tax Rate

27.5%














Discount Rate

12%














Perpetual Growth Rate

4%














EV/EBITDA Mulltiple

8.0x














Transaction Date

22/08/2020














Fiscal Year End

31/03/2021














Current Price

1.41














Shares Outstanding

140,380,000































Capital raised from ASX IPO
50,000,000














Investment Bank IPO Fee
2.00%














Shares issued for ASX IPO

35460992.91














Shares Outstanding Post IPO

175,840,993































Discounted Cash Flow


Entry
2020
2021
2022
2023
2024
2025
Exit

Terminal Value



Date


22/08/2020
31/03/2021
31/03/2022
31/03/2023
31/03/2024
31/03/2025
31/03/2026
31/03/2026

EV/EBITDA

996,158


Time periods



1
2
3
4
5
6


Perp. Growth

1,143,655


Year frac



0.61
1.00
1.00
1.00
1.00
1.00
1.00

Average

1,069,906



















EBIT



4,643
25,785
37,837
55,435
81,233
118,949







Less: Cash Taxes



1277
7091
10405
15244
22339
32711







NOPAT



3,366
18,694
27,432
40,190
58,894
86,238







Plus: D&A



930
1,249
1,998
2,936
4,107
5,571







EBITDA



5,573
27,034
39,835
58,370
85,340
124,520







Less: Capex



1,000
1,000
1,000
1,000
1,000
1,000







Less: Changes in NWC


5,444
(11,932)
930
1,349
1,955
2,835







Unlevered FCFF



(2,148)
30,875
27,500
40,777
60,046
87,973
1,069,906























Transaction FCFF


0
(1,307)
30,875
27,500
40,777
60,046
87,973
1,069,906























IRR FCFF


(197,922,219)
(1,307)
30,875
27,500
40,777
60,046
87,973
1,069,906























Intrinsic Value



Market Value



Rate of Return







Enterprise Value

720,948,122

Market Cap

197935800

Current Price

$1.41






Plus: Cash

13,581

Plus: Debt

0

Target Price

$5.14






Less: Debt

0

Less: Cash

13,581

TP Upside

264.24%






Equity Value

720,961,703

Enterprise Value
197,922,219

IRR

-51%























Equity Value/Share

$5.14

Equity Value/Share
1.41



























Post ASX IPO
















Equity Value

769,961,703































Equity Value/Share

$4.38

















I stopped at 45% revenue growth over 5 years. They only did about 1/3 of that in the last quarter.

[mfd]

I stopped at 45% revenue growth over 5 years. They only did about 1/3 of that in the last quarter.

I'm not too surprised that growth slowed down in a quarter covering the worst of the Covid lockdowns, given the job of the company is to get people to physical stores. We know they are aiming for their compensation to be more transaction based, and it's reasonable to assume transactions were lower than normal that month.

[Getty]

CanadianAussie,
Please do not feel inhibited about posting what you like on here.

In particular, spread sheet type posts like yours.
There are some very good forensic accountants on here who will gladly run their stethoscope over it, and provide insightful analysis.
Everyone benefits, including you.

The worst thing that can happen, is that uninterested people wont read a post.

Dr JPG.

Public Health Safety Warning.
Due to Covid, if you're COUGHIN', prepare your COFFIN, ready to carry you OFF IN.
BY Order
Jacinda.

[Cobber]

I'm not too surprised that growth slowed down in a quarter covering the worst of the Covid lockdowns, given the job of the company is to get people to physical stores. We know they are aiming for their compensation to be more transaction based, and it's reasonable to assume transactions were lower than normal that month.

So that means if they are to make 45% growth for year 1, they are going to need to do a couple of quarters at 60% growth. Based on second waves of covid globally.... it isn't going to happen.

I think CanadianAussie did a great chart, but they also said they were bullish.

What does that chart look like at 20% growth for 5 years?

If you don't want to be seen to be ramping the stock, you did need to have a worst vs best case scenario's.

[Chuckles]

I hold a good parcel of PLX in the portfolio and support the listing on the ASX. Good for the SP and the growth of the company.

[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 will definitely support $50 million plexure ASX pre-IPO)

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.

[Chuckles]

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 will definitely support $50 million plexure ASX pre-IPO)

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.


Completely agree with you Yuj4. PLX looks good, reads good and makes up part of my speculative group in the portfolio. Completely overlooked ABA once I had sold at $3.43, those that bought and held after March will be having a good day :)

[Brain]

CanadianAussie,
Please do not feel inhibited about posting what you like on here.

In particular, spread sheet type posts like yours.
There are some very good forensic accountants on here who will gladly run their stethoscope over it, and provide insightful analysis.
Everyone benefits, including you.

The worst thing that can happen, is that uninterested people wont read a post.

Dr JPG.

Public Health Safety Warning.
Due to Covid, if you're COUGHIN', prepare your COFFIN, ready to carry you OFF IN.
BY Order
Jacinda.

I totally agree with that John Paul Getty. It is great that CanadianAussie Has posted his views on Plexure. Good to see some optimism and
forces me to give some more thought to the share.

[Hello123]

Lots of sellers unloading it seems market sentiment for this weeks presentation is quite weak, Confidence low in what will be revealed?

[CamNZ]

Lots of sellers unloading it seems market sentiment for this weeks presentation is quite weak, Confidence low in what will be revealed?


Just noticed Plexure updated their website. Lots of new information on there if you guys haven't taken a look at it yet!

[Leftfield]

Lots of sellers unloading it seems market sentiment for this weeks presentation is quite weak, Confidence low in what will be revealed?

Pretty emotive post.......and not accurate IMHO.

Much depends if you are short term or long term for this stock.

(Disc - holding long term and up 340% to date..... so DYOR )

[Chuckles]

Just noticed Plexure updated their website. Lots of new information on there if you guys haven't taken a look at it yet!

Hi, just had a look at their website. Last update was 27/08/2020 is there anything more recent which I had missed?

[Hello123]

Pretty emotive post.......and not accurate IMHO.

Much depends if you are short term or long term for this stock.

(Disc - holding long term and up 340% to date..... so DYOR )


Fair call i did jump the gun, they haven't sold down. I am positive about this business, am looking forward to Thursday.

[CamNZ]

Hi, just had a look at their website. Last update was 27/08/2020 is there anything more recent which I had missed?

Last announcement was on the 27/08/2020, you're correct on that, but I was talking about the website as a whole.
They've done a whole refresh/redesign of it. :)

[Chuckles]

Last announcement was on the 27/08/2020, you're correct on that, but I was talking about the website as a whole.
They've done a whole refresh/redesign of it. :)

Cheers Cam :t_up:

[Hello123]

Just noticed Plexure updated their website. Lots of new information on there if you guys haven't taken a look at it yet!

Yes its more sleek and user friendly.

[Hello123]

Had someone post on an Investor page "Plexure confirm timeline of joining ASX September/October via Notice of meeting letter.

Does anyone know anything about this?

[CamNZ]

Had someone post on an Investor page "Plexure confirm timeline of joining ASX September/October via Notice of meeting letter.

Does anyone know anything about this?









"Should the Company decide to proceed with the IPO, it is expected that any IPO offer will open in late September/early October with the ASX listing (and NZX secondary listing) in place by late October/early November. However, this timeline remains indicative and is subject to a number of factors including the regulatory approvals noted above and market conditions. An announcement will be made to the market if Plexure decides to proceed with the IPO and ASX Listing and NZX secondary listing."
In the Notice of Meeting letter, the announcement dated 18/8/2020.

[tango]

Mainfreight isn’t dual listed and it doesn’t seem to have done their share price any harm.

I think New Zealand has a tendency to undervalue biotech companies because it’s not something that New Zealand investors or analysts understand as well as Australian investors. However, I think that by and large, the New Zealand investing community and the analysts working for the institutions understand software companies and marketing as well as the Australian market. Any big increase in customers is going to lift the price, whether it is listed on the NZX or the ASX.

I think it’s a shame when we always assume that Australians do things bigger and better than Kiwis.

At the end of the day I support whatever helps the company grow and helps to return the greatest value to shareholders.

I also support New Zealand shareholders not only getting a preferential allocation but being able to take up as much as they want and then leaving the balance for Australian shareholders and institutions to fight over. I don’t feel that existing shareholders should be “rationed” to a small pool of shares to fight over

[forest]

Mainfreight isn’t dual listed and it doesn’t seem to have done their share price any harm.

I think New Zealand has a tendency to undervalue biotech companies because it’s not something that New Zealand investors or analysts understand as well as Australian investors. However, I think that by and large, the New Zealand investing community and the analysts working for the institutions understand software companies and marketing as well as the Australian market. Any big increase in customers is going to lift the price, whether it is listed on the NZX or the ASX.

I think it’s a shame when we always assume that Australians do things bigger and better than Kiwis.

At the end of the day I support whatever helps the company grow and helps to return the greatest value to shareholders.

I also support New Zealand shareholders not only getting a preferential allocation but being able to take up as much as they want and then leaving the balance for Australian shareholders and institutions to fight over. I don’t feel that existing shareholders should be “rationed” to a small pool of shares to fight over

Ryman also managed well to increase share price with only being listed on the NZX.

[steve06]

Started investing in Plexure a couple of weeks ago, liked what the company is doing and offering. Was doing a bit of research late last night on Google and thought of looking at its competitors, and found a list. Does anyone in the IT industry have more knowledge, insight into these Plexure competitors, and what threats if any they pose to Plexure?

https://www.g2.com/products/plexure/competitors/alternatives

https://www.owler.com/company/plexure

[CanadianAussie]

So there was a pretty glaring error in my DCF model. So for full disclosure, after updating I get $1.88 post ASX IPO. That's based on 45% revenue growth. I thought this was reasonable as they achieved at least this over the prior 3 years.

Bear case (20% rev growth) $0.94
Bull case (55% rev growth) $2.48

ROIC is also down to 7%; however, playing around with my model this appears to be due to the doubling in staff costs as it's back around 21% with a more reasonable increase in this value.

Apologies if I came off as upramping, that's not my intent. That said this is still one of my highest conviction holdings and even after adjusting my DCF model my thesis remains intact. I hope the ASX listing goes ahead as I think with managements phenomenal record of capital allocation this can achieve a lot with the additional funds.

Appreciate all the constructive criticism and please take my valuations with a grain of salt as I'm still new to doing DCFs.



Assumptions
















Tax Rate

27.5%














Discount Rate

12%














Perpetual Growth Rate

4%














EV/EBITDA Mulltiple

8.0x














Transaction Date

22/08/2020














Fiscal Year End

31/03/2021














Current Price

1.41














Shares Outstanding

140,380,000































Capital raised from ASX IPO
50,000,000














Investment Bank IPO Fee
2.00%














Shares issued for ASX IPO

35460992.91














Shares Outstanding Post IPO

175,840,993































Discounted Cash Flow


Entry
2020
2021
2022
2023
2024
2025
Exit

Terminal Value



Date


22/08/2020
31/03/2021
31/03/2022
31/03/2023
31/03/2024
31/03/2025
31/03/2026
31/03/2026

EV/EBITDA

416,754


Time periods



1
2
3
4
5
6


Perp. Growth

427,026


Year frac



0.61
1.00
1.00
1.00
1.00
1.00
1.00

Average

421,890



















EBIT



1,284
4,249
9,845
17,519
30,432
50,273







Less: Cash Taxes



353
1168
2953
5256
9130
15082







NOPAT



931
3,080
6,891
12,263
21,303
35,191







Plus: D&A



2,177
2,557
2,128
2,426
2,127
1,821







EBITDA



3,461
6,805
11,973
19,945
32,560
52,094







Less: Capex



479
475
475
475
475
475







Less: Changes in NWC


8,048
(15,369)
615
1,401
2,288
3,689







Unlevered FCFF



(5,419)
20,531
7,930
12,813
20,667
32,848
421,890























Transaction FCFF


0
(3,297)
20,531
7,930
12,813
20,667
32,848
421,890























IRR FCFF


(197,921,581)
(3,297)
20,531
7,930
12,813
20,667
32,848
421,890























Intrinsic Value



Market Value



Rate of Return







Enterprise Value

281,555,727

Market Cap

197935800

Current Price

$1.41






Plus: Cash

14,219

Plus: Debt

0

Target Price

$2.01






Less: Debt

0

Less: Cash

14,219

TP Upside

42.25%






Equity Value

281,569,946

Enterprise Value
197,921,581

IRR

-57%























Equity Value/Share

$2.01

Equity Value/Share
1.41



























Post ASX IPO
















Equity Value

330,569,946































Equity Value/Share

$1.88





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[sb9]

Well, all set for big reveal today...let's see what's in store

[allfromacell]

No premarket update doesn't look promising for any big reveal..

[sb9]

No premarket update doesn't look promising for any big reveal..

I think they'll release any news closer to ASM time which is 11am. So let's wait and see.

[Chuckles]

PLX starting to move as get we closer to the AGM today. I hope there are some substantial announcements for investors today.

[tango]

There is sure to be some interesting discussion on the ASX listing!

[Baa_Baa]

Where do I find my Username and Password to login to the AGM?

[sb9]

Where do I find my Username and Password to login to the AGM?

Just log in as guest by entering your details, I had same issue with username and pw

[Chuckles]

Just log in as guest by entering your details, I had same issue with username and pw

Notice is hereby given that the Annual Meeting of Shareholders of Plexure Group Limited will be held online at web.lumiagm.com or by downloading Lumi AGM from the App Store or by Google Play Store for free (please use meeting ID 333-719-638) on Thursday 3 September 2020 commencing at 11:00am (remote entry will open at 10.30am NZST).

[allfromacell]

Where do I find my Username and Password to login to the AGM?

Username = CSN
Password = post code

[tango]

Username = CSN
Password = post code

Too late LOL
Logged on as guest

[tango]

I wish they would keep New Zealand as the primary listing not ASX

[tango]

I hope they give existing shareholders a HUGE allocation. I feel like our holdings will be diluted

[winner69]

Anything exciting happen at ASM

[tango]

OMG they are talking about issue price for new shares being no more than 20% below average market price!

[Gerald]

OMG they are talking about issue price for new shares being no more than 20% below average market price!

I think you missed the part where they explained it was a requirement that they set a theoretical floor.

[Leftfield]

Exactly..... well said Gerald. Move on Tango. Nothing to fear.

It was also emphasised that ;
a.) should the ASX listing proceed (and at that stage of the meeting 90% of votes were in favour) that existing share holders will be given priority
b.) NZX delisting is NOT being considered (at this stage)

JMHO - DYOR as usual.

[Chuckles]

[QUOTE=Left field;841383]Exactly..... well said Gerald. Move on Tango. Nothing to fear.

It was also emphasised that ;
a.) should the ASX listing proceed (and at that stage of the meeting 90% of votes were in favour) that existing share holders will be given priority
b.) NZX delisting is NOT being considered (at this stage)

Exactly right Gerald and Left Field, people need to listen carefully to what had been said. I believe the way forward for PLX's growth and expansion is via the IPO and listing on the ASX. The information I got from the ASM was very positive and look forward to the next growth stage strategy :t_up:

[tango]

I think you missed the part where they explained it was a requirement that they set a theoretical floor.

I didn’t miss it. I posted before they said that.

Where was the NZSA. I didn’t hear a peep from them in the meeting

[tango]

They didn’t say existing New Zealand shareholders will get priority. They said there would be a pool of shares available for existing shareholders along with Australian retail and institutional investors. There is a subtle and important difference

[Leftfield]

I particularly liked that Director Phil Norman ( PLX Top 20 Shareholder and former founding Chairman of XRO) said,

"in my 10 years as director (of PLX) I have never felt more positive than today (regarding the future of this company.)"

He should know!

My only slight concern in the whole presentation was that the CEO did not rule out further losses FY21 (following the 1st Qtr loss) as the company builds to its 4 year plan. Hence I guess the need to raise funds in the short term. However this sort of thing is pretty usual these days in high growth tech stocks.

Again JMHO.

[zs_cecil]

They didn’t say existing New Zealand shareholders will get priority. They said there would be a pool of shares available for existing shareholders along with Australian retail and institutional investors.

But they didn't rule out the possibility of issuing rights at the same time as the ASX listing. I guess they are trying to find out how appealing the ASX listing is to potential investors before they think about any other option combination.

[sb9]

Listening to Phil and Craig you can't help but think they're onto some exciting stuff ahead, if they can replicate half of XRO's success, that'll be huge.

[Hello123]

Listening to Phil and Craig you can't help but think they're onto some exciting stuff ahead, if they can replicate half of XRO's success, that'll be huge.

Even a quarter!

[Ex-CFO]

The whole purpose of IPO in ASX is to get the Australian Investors on board. If I were the Directors, I would try to issue as many as I can to the Australian institutions and private individual. As a kiwi investors all you need is to increase your holding in Plexure to participate. The Share price in NZ should rise and fall in similar manners. I have just increased my holding by a further 50k share this morning. For those of you who worry that the company might be cash flow negative again this year, I suggest that you have a look at xero in its earlier year of growth.

[Hello123]

I cant believe some one asked if they would be paying a dividend in the near future...

[jimdog31]

I cant believe some one asked if they would be paying a dividend in the near future...

i think they were at the wrong AGM 😂

[bull....]

wonder if it get sold off today following the big tech sell -off on wall st

[Hello123]

wonder if it get sold off today following the big tech sell -off on wall st

Are you looking to buy? haha

[Mel]

Even a quarter!
Differing (SaaS) business model but I do agree that PLX has the potential for a lot more upside - even a tenth would be good IMHO!

[tango]

I like that PLX showed us the potential market and the competitors. I think the ASX listing will be beneficial. I just want to make sure that our holdings don't get so diluted that we get left behind. Also, I wonder about the liquidity if the primary listing moves to ASX. I would prefer the primary listing to stay in New Zealand

I loved that someone asked about a renounceable rights issue which seems the fairest option. It saves putting in $50K and the share registrar sitting on it for 2 weeks before returning $40k of it as so often happens these days. A rights issue with the option to oversubscribe by a predetermined % makes the most sense. It also stops all those Sharesies people with their 3 shares from going crazy.

[mikeybycrikey]

I cant believe some one asked if they would be paying a dividend in the near future...

I'm pretty sure that question was asked every year at the Xero AGM.

[Leftfield]

NBR gets it wrong and PLX has to issue an explanation..........

Plexure Group Limited (NZX: PLX) announces a correction to an article called “Plexure aims for $54m from IPO” released by The National Business Review Online (NBR) on 3 September 2020 (the Article). Shareholders voted on a resolution at Plexure’s annual meeting yesterday to give the Board authority to issue shares with an aggregate issue price of $A50m for the purpose of a proposed initial public offering (IPO) at an issue price to be determined. The Article states that the “issue price at the IPO would be no greater than 20% below the market price”. That statement in the Article is the opposite of the position. Rather, the issue price at the IPO cannot be less than 20% below the market price. The purpose of the resolution was, as described in the Explanatory Statement to the Notice of Meeting, to provide a level of certainty for shareholders regarding potential dilution, so the reference point for setting the IPO issue price would be the market price and in no circumstances would the issue price be lower than 20% below the market price.

[Ex-CFO]

Just had a session with a couple of Australian analysts this afternoon about Plexure. They told me that Australian like growth company and that the share price is likely to rise after listing. I look forwards to them listing on ASX.

[haewai]

Just had a session with a couple of Australian analysts this afternoon about Plexure. They told me that Australian like growth company and that the share price is likely to rise after listing. I look forwards to them listing on ASX.

Vacuous un-provable ramping hearsay. Thanks for being easy to spot.

[Leemsip]

Lol. Nice call Haewai

[tango]

Vacuous un-provable ramping hearsay. Thanks for being easy to spot.

Thought the same thing after the first post!

[artemis]

Vacuous un-provable ramping hearsay. Thanks for being easy to spot.

It is up to the reader to decide whether a poster's info or opinion is useful or not. A pity when posters are 'cancelled' (word du jour).

[Drew95]

I cant believe some one asked if they would be paying a dividend in the near future...

I remember when they used to ask that of XRO 8 years ago !!??!!

[haewai]

It is up to the reader to decide whether a poster's info or opinion is useful or not. A pity when posters are 'cancelled' (word du jour).

I agree. But I couldn't shrug off my irritation at the combination of username and post.

[Leftfield]

For those who missed it here's the CEO's presentation from the 3 Sept ASM.

See it here. (http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/PLX/359194/330029.pdf)

[winner69]

Ex-CFO was only saying what most on here was saying — Aussies love growth tech companies and the share price will likely go up when listed on the ASX

Sorry - just ramping

[Cadalac123]

Really hope the actual presentation had more substance than that PPT. The guy running this sure made it sound like an explosive growth story during his last interview which hasn't really come to fruition yet

[tango]

Really hope the actual presentation had more substance than that PPT. The guy running this sure made it sound like an explosive growth story during his last interview which hasn't really come to fruition yet

With 10 months development to get the product to market and a few weeks. but more likely months, to sign the customer you’re looking at minimum 12 months leadtime before revenue generation for each new client. One thing I didn’t understand with the shift to revenue based on app usage is whether there is upfront revenue. Presumably there is a fixed and variable component to the revenue structure in the new contracts. Did anyone glean any insights on the new revenue model?

[Leftfield]

With 10 months development to get the product to market and a few weeks. but more likely months, to sign the customer you’re looking at minimum 12 months leadtime before revenue generation for each new client. One thing I didn’t understand with the shift to revenue based on app usage is whether there is upfront revenue. Presumably there is a fixed and variable component to the revenue structure in the new contracts. Did anyone glean any insights on the new revenue model?

I suspect there will be 'upfront' and other payments during the 10 month implementation period.

In addition, my understanding from the CEO's Q& A is that PLX's new contracts now generate revenue based on factors such as a.) redemption rates b.) active user numbers, and c.) number of transactions generated.

Also remember so called 'old contracts' can be amended, for example, McD in Japan has recently implemented PLX's ‘order and pay’ service in over 2,700 stores.

Finally, and this is pure speculation (call it ramping if you will,) imagine what will happen to the SP (and the company) if the forthcoming ASX fundraising elicits another major strategic customer/investment akin to the McD's stake!!??

When Director Phil Norman ( PLX Top 20 Shareholder and former founding Chairman of XRO) said,
"in my 10 years as director (of PLX) I have never felt more positive than today (regarding the future of this company.)" I wonder just what makes him so bullish and what is driving the ASX Cap raise moves??



DYOR.... pure speculation.

[stef]

I suspect there will be 'upfront' and other payments during the 10 month implementation period.

In addition, my understanding from the CEO's Q& A is that PLX's new contracts now generate revenue based on factors such as a.) redemption rates b.) active user numbers, and c.) number of transactions generated.

Also remember so called 'old contracts' can be amended, for example, McD in Japan has recently implemented PLX's ‘order and pay’ service in over 2,700 stores.

Finally, and this is pure speculation (call it ramping if you will,) imagine what will happen to the SP (and the company) if the forthcoming ASX fundraising elicits another major strategic customer/investment akin to the McD's stake!!??

When Director Phil Norman ( PLX Top 20 Shareholder and former founding Chairman of XRO) said,
"in my 10 years as director (of PLX) I have never felt more positive than today (regarding the future of this company.)" I wonder just what makes him so bullish and what is driving the ASX Cap raise moves??



DYOR.... pure speculation.
all good points,

does anyone know why he isn't still chairman of XRO? Financially it would have been more beneficial to be chair of XRO instead of PLX.

Also there is a low amount of shares held by directors/senior management, given how cheap the share has been and the expected growth?

[jimdog31]

all good points,

does anyone know why he isn't still chairman of XRO? Financially it would have been more beneficial to be chair of XRO instead of PLX.

Also there is a low amount of shares held by directors/senior management, given how cheap the share has been and the expected growth?

Valid point. I wonder if they will buy in at the "20% below market value" value.

[Brain]

all good points,

does anyone know why he isn't still chairman of XRO? Financially it would have been more beneficial to be chair of XRO instead of PLX.

Also there is a low amount of shares held by directors/senior management, given how cheap the share has been and the expected growth?

Plexure only started looking good about the time that Maccas injected some capital into the company. Before then Plexure was looking to be a long shot. That was April last year and the share price has gone from strength to strength sine then.I think that directors and management have been surprised by the success (share price wise) by the company which is a bit of a worry.

[jimdog31]

Plexure only started looking good about the time that Maccas injected some capital into the company. Before then Plexure was looking to be a long shot. That was April last year and the share price has gone from strength to strength sine then.I think that directors and management have been surprised by the success (share price wise) by the company which is a bit of a worry.

He was fairly bullish in his comments "ive never been more positive in 10 years" or something to that effect. Be nice to see them put their money where their mouth is.

[Brain]

He was fairly bullish in his comments "ive never been more positive in 10 years" or something to that effect. Be nice to see them put their money where their mouth is.

Yes that was bullish but the question is whether or not the share is worth a $1.40. They have 200m users and still need to raise money to grow the company before they can turn a decent profit. I hold but will not be buying at these prices. I am not so positive about the future as other posters are.

[tango]

all good points,

does anyone know why he isn't still chairman of XRO? Financially it would have been more beneficial to be chair of XRO instead of PLX.

Also there is a low amount of shares held by directors/senior management, given how cheap the share has been and the expected growth?

I was wondering the same thing about Phil Norman. I can’t see travel being a barrier to remaining Chair of Xero. Does anyone know whether he was encouraged to vacate the position? Perhaps Xero needed a different skill set for that phase of the business which would lead one to ask questions about his role in PLX

I am comfortable that he has a lot of skin in the game being a top shareholder. That is always encouraging.

[winner69]

Plexure need to keep spending big to keep up with competitors ...tough world

[bull....]

major share holder selling but why?

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/PLX/359369/330244.pdf

[Baa_Baa]

major share holder selling but why?

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/PLX/359369/330244.pdf

Who would ever know why? VIX invested $2.0m @ $0.37 on 10 Jun 2016, gradually increasing their holding over the years to 14,406,624 shares.

So they disclose sale of 2.0m shares @ say $1.37 average for $2,740,000 return, and retain 12,408,792 shares 8.84% of the company worth around $17.5m.

Good investing.

[BlackPeter]

major share holder selling but why?

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/PLX/359369/330244.pdf

Taking profits? Rebalancing portfolio? Closing hutches for the arriving bear? Who knows, but while it is for any holder good to sell on a high, big holders need to do this before the trend turns, otherwise they just swamp the market and crash the price.

[sommelier]

The SP has actually held up pretty well given how much downward pressure there was there.

[Cobber]

He was fairly bullish in his comments "ive never been more positive in 10 years" or something to that effect. Be nice to see them put their money where their mouth is.

He's going to the markets asking for $50 million. He can't very well look like he's luke-warm on its prospects can he.

[jimdog31]

He's going to the markets asking for $50 million. He can't very well look like he's luke-warm on its prospects can he.

Of course not. My point was if he is so bullish , why aren't they also buying more shares....

[Leftfield]

Of course not. My point was if he is so bullish , why aren't they also buying more shares....

All holders (even those with 3 mill plus shares like Mr Norman,) I suspect I will be waiting to see the terms of the ASX/Cap raise before they/I commit to purchasing more...... no matter how bullish I am/they are.

Why buy now when your holding will maybe entitle you to a discounted offer in a few weeks time??

( DYOR on recent cap raises like IKE and you'll see what I mean.)

[Hello123]

All holders (even those with 3 mill plus shares like Mr Norman,) I suspect I will be waiting to see the terms of the ASX/Cap raise before they/I commit to purchasing more...... no matter how bullish I am.

Why buy now when your holding will maybe entitle you to a discounted offer in a few weeks time??

( DYOR on recent cap raises like IKE and you'll see what I mean.)

Sorry did they state in anyway how much shares will be allocated to existing holders or is there a normal process, for example you can purchase up to the amount you hold or if you are an existing holder you could purchase an amount of your liking. If this was the case in either example we could sell say 50% of our holdings now and purchase them for a cheaper price when offered.

[jimdog31]

All holders (even those with 3 mill plus shares like Mr Norman,) I suspect I will be waiting to see the terms of the ASX/Cap raise before they/I commit to purchasing more...... no matter how bullish I am.

Why buy now when your holding will maybe entitle you to a discounted offer in a few weeks time??

( DYOR on recent cap raises like IKE and you'll see what I mean.)

When the IKE Cap came out wasnt it 1 share for every 7 at a discount? So if it worked similar the more Qty of shares you own now would give you a greater advantage?

[Leftfield]

Sorry did they state in anyway how much shares will be allocated to existing holders or is there a normal process, .....

No they didn't. All they have done at this stage is to get shareholder approval to proceed with the ASX listing and cap raise....the exact terms will be announced in the future (Oct?)


When the IKE Cap came out wasnt it 1 share for every 7 at a discount? So if it worked similar the more Qty of shares you own now would give you a greater advantage?

You are getting the idea .....

[Hello123]

sizable purchase post-close 150k shares at 1.40

[Chuckles]

sizable purchase post-close 150k shares at 1.40

Yes, i noticed that also. The most interesting trade in PLX I've seen in a while :eek2:

That one trade at 5:16pm made up 72% of todays volume.

[Hello123]

Plexure AGM 2020 if you missed it.


https://www.youtube.com/watch?v=VVkav7fTJEg

[Hello123]

Within 8 weeks of launching their Plexure-powered app, Indonesian grocer Super Indo achieved 83% of their annual acquisition target, plus a sizeable increase in average basket size.

https://www.plexure.com/resource/webinar/virtual-roundtable-super-indo/

[dreamcatcher]

Not a lot of movement here and volume dropping .........

[Hello123]

Featured in QSR Magazine

https://www.qsrmagazine.com/news/white-castle-launches-first-systemwide-loyalty-program

[Baa_Baa]

Featured in QSR Magazine

https://www.qsrmagazine.com/news/white-castle-launches-first-systemwide-loyalty-program

Thanks for sharing, that is a good article, and great that they reference their "technology partner Plexure" and quote Craig who offers some encouraging results.

[tango]

Featured in QSR Magazine

https://www.qsrmagazine.com/news/white-castle-launches-first-systemwide-loyalty-program

Very interesting, thanks.

I wonder how McDonald’s feel about this quote, “It is a pleasure to partner with White Castle, whose commitment to delivering an engaging and personalized program is unrivaled,” says Craig Herbison, CEO at Plexure.

[Ex-CFO]

There is no guarantee that you can get it cheaper. There is a book build processed. If the institutions are happy to pay a fair price, which I think they will, then you might not be able to get it cheap. I suspect the price will be very close to the closing price in NZD.
Sorry did they state in anyway how much shares will be allocated to existing holders or is there a normal process, for example you can purchase up to the amount you hold or if you are an existing holder you could purchase an amount of your liking. If this was the case in either example we could sell say 50% of our holdings now and purchase them for a cheaper price when offered.

[Baa_Baa]

Good article on the Herald about White Castle and Plexure, haven't linked it as it's behind the paywall.

[Hoop]

Good article on the Herald about White Castle and Plexure, haven't linked it as it's behind the paywall.

I can't read paywalled NZ Herald articles...but I think it has something to do with what this article was about (https://www.bizjournals.com/columbus/news/2020/09/10/discounts-deals-highlight-new-white-castle-custom.html)

[kiora]

Yes it is Hoop
Try google/pressreader/nzherald/article
https://www.pressreader.com/new-zealand/the-new-zealand-herald/20200918/281878710797471

[Hello123]

Looks like super indo performance has been updated, great results.

"Less than three months after launch, Super Indo Supermarket
(https://www.facebook.com/superindosupermarket/?__cft__[0]=AZVxS-hlhor9GZtC8FRP48r3NSX5bIj7_5nyfiaIG9Q_jKwY3IQG4AWv zrnEsCaVIjQ4ECWwkisFvsaz9W97OTbBinNduA8MvP_k2sKMRE m7H5FU3TFNxh92omgEAiO3MrmjDQ5atHuLkAe1sibWtqcrnE0o U4_B5FRQS8emvZ5hCQ&__tn__=kK-R) achieved 101% of its annual app adoption target, as well as 1 million offer redemptions and a 55% increase in basket size. "

[Chuckles]

Good article. Really highlights the real world benefit Plexure can offer businesses and that a company as large as White Castle has decided to roll it out to 363 stores. I'm looking forward to them listing on the ASX to tap into funding their future growth and expansion, I believe this Plexure has the product and services to become a big player.

Did they say End of September - early October they were going to start moving forward with the IPO for the ASX listing, I can't remember at this time.

[Hoop]

Yes it is Hoop
Try google/pressreader/nzherald/article
https://www.pressreader.com/new-zealand/the-new-zealand-herald/20200918/281878710797471
Thanks Kiora...Thats a cool website :cool:

[CamNZ]

Good article. Really highlights the real world benefit Plexure can offer businesses and that a company as large as White Castle has decided to roll it out to 363 stores. I'm looking forward to them listing on the ASX to tap into funding their future growth and expansion, I believe this Plexure has the product and services to become a big player.

Did they say End of September - early October they were going to start moving forward with the IPO for the ASX listing, I can't remember at this time.

They said that they were expecting to open up the offer in October and if so, the listing will occur in November.
As usual, dependent on them getting regulatory approval.

[Chuckles]

They said that they were expecting to open up the offer in October and if so, the listing will occur in November.
As usual, dependent on them getting regulatory approval.

Thanks for that Cam