Pet peeve! This happens nearly every time
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Not really surprising to see ex CEO Craig dumping some stock on market.
Deal done. Announced on ASX ... "Completion of TASK deal, appointment of CEO and Director"
Included in the announce:
"With the acqusition now completed, Plexure is excited to announce some positive outcomes delivered by TASK since the announcement of the deal on 16 August. In the last seven weeks TASK have signed up several new clients, including:
- SkyStadium implementing industry leading transaction platform;
- Extending its relationship with Compass Group Australia to roll out across entire enterprise; and
- Bakers Delight selecting their online ordering solutions (TOLO) to deploy across all 500+ Australian bakeries."
Boom!
“Today is such a momentous day. It’s been a journey to get here, but ultimately this is just the beginning“ said Mr Houden
Thank you Mr Houden for saving our bacon and taking over our company. You might have screwed us big time but we now put our faith in you making us rich…..at least you can’t do any worse than the last lot…..so please don’t stuff up.
Yeah and now they are $140.39 aud. Could the same happen here ???
TASK is excited to announce it has been selected to implement the industry leading TASK Transaction Platform at Sky Stadium in Wellington, New Zealand.
TASK is thrilled to announce that Bakers Delight has selected our online ordering solution (TOLO) to deploy across all of their 500+ Australian bakeries.
TASK is excited to announce it has extended its relationship with Compass Group Australia, executing an agreement to roll out across the entire enterprise. (600 locations)
You work for TASK baabaa
Never seen you so excited and passionate about such things before
Keep it going ….you getting us all really excited as well
I hold shares in MSL.[asx]
Looks to be a great growth sector.
So the excitement builds.
For the record, I don't work for Plexure or Task, but I do own shares in the company and have done since 2014, accumulating an overweight position in my portfolio. It's true, I am very excited about the future of Plexure & Task.
This acquisition of Task by Plexure imo stacks up in many ways, but in the words of the Independent Advisor's Report by Simmons ...
"In our opinion, after having regard to all relevant factors, the positive aspects of the TASK Merger (including the TASK Allotment) significantly outweigh the negative aspects from the perspective of the Current Shareholders.”
It's hard not to be excited about this:
"The Strategic Rationale for the Task Merger
Plexure currently offers an extensive customer engagement platform. Its key barrier is integration into the customer’s POS or enterprise management systems.
Task provides a state-of-the-art enterprise POS solution that will enable Plexure to offer a fully integrated system, providing an end-to-end enterprise hospitality and retail engagement platform.
Task also offers Plexure access to new industry verticals (such as casinos, restaurant chains, stadiums and food service) and access to a large, diverse, quality client base.
The Board’s rationale for the transaction is set out in detail in section 2 of the Explanatory Memorandum attached to the notice of special meeting (the Explanatory Memorandum) and is summarised below:
• complementary product sets – the combination of operations and customer engagement product capability will create an end-to-end platform that can improve clients’ digital transformations
• diversification of Plexure’s customer base – Task brings a range of global clients that include multi-national restaurant chains, food service businesses and entertainment and stadium venues across Australia and increasingly in North America and Europe. This will diversify Plexure from its heavy reliance on McDonald’s (which accounted for 94% of Plexure’s revenue in the 2021 financial year)
• development capability – Task’s development capability based in Poland and Australia will complement Plexure’s development team based in New Zealand and ensure the combined group achieves its combined software development ambitions more efficiently than Plexure would be able to achieve alone
• scale, growth and synergies – Task brings material additional recurring software revenue to the combined group. The Board believes the combined group will be better positioned to capture the significant opportunities open to either Task or Plexure on a standalone basis. Furthermore, the combined group will be able to share corporate functions such as finance and human resources.
In our view, the strategic rationale for the Task Merger is compelling. The Task Merger is effectively a merger of equals and will be transformational for Plexure. The Company’s operations will broaden from providing a customer engagement solution for a relatively small number of customers (and being heavily reliant on one – McDonald’s) to being an end-to-end cloud engagement and transaction platform
provider for a number of major hospitality and retail enterprises. The transaction will diversify Plexure’s customer base, expand the product portfolio for both companies and should generate cross-selling opportunities."
And while the acquisition drama was unfolding, Task closed three new deals; Sky Stadium, Bakers Delight and Compass Group.
:)
Pick a random sample of 20 start ups ... and one of them in average will be successful (i.e. return more money to shareholders than they take).
What makes you believe that PX1 belongs to the successful 5% which will (after many years of trying) succeed (like XRO seems to do ...) and not to the 95% who fail (like e.g. WYN, GEN, OHE, CRP, CBL, ...). Lets face it, what all these companies had in common is that they have been misunderstood (by their investors, this is). Not sure, though I would call them underfollowed. Normally being overhyped is a bigger problem - not for the companies, but for the the late arriving investors. Great stuff for traders, though.
Anyway - while Plexure has a long history of living off shareholder funds, the final verdict about its success still stands out.
All the best to holders ...
Refund paid back, let's go shopping..
Hi all, expect a price drop as I hopped on today....... ;)