Live The GO2 People Ltd ASX: GO2

Interview with Billy Ferreira, Managing Director, The GO2 People Ltd

Fixed Priced Retail PlacementType of Offer
31 Jul 19Offer Open
28 Aug 19Pay By
$0.075Price
$1.3m - $4.0mSize of Offer
$2,000 Minimum Investment
Vested EquitiesLead Manager

Update

The company has advised that a Supplementary Prospectus has been lodged and the offer has been extended until 28 August 2019. The Supplementary Prospectus should be read together with the Prospectus dated 10 July 2019.

Introduction

The GO2 People Ltd (ASX: GO2), an ASX listed company, is a leading provider of vertically integrated recruitment, training and building services throughout Australia.  GO2 have acquired  Industry Pathways, a high margin, highly scalable online education and training provider.  Industry Pathways complements GO2’s recruitment business, with potential to cross-sell Industry Pathways training programs to GO2’s 175,000 job applicant database.  Stand-alone, in FY19 Industry Pathway expects $6m revenue and $2m EBITA whilst GO2 was EBITDA positive in July 2019.

Offer Summary

The GO2 People are looking to raise up between $1.3 million to $4 million via its Documented Placement at $0.075 and investors will receive one (1) free attaching New Option for every share issued. The Options will be exercisable from 31 July 2020 and have a 10 cent exercise price.  The Company has also entered into a $ 2million, non-binding secured loan agreement

The capital raise offer and the broker options offer were approved at the general meeting held on 9 August 2019.

Business Overview

Transaction Summary

Financial Overview

Risks

As set out in Section 7 of the Short Form Prospectus, The GO2 People Ltd are subject to a range of risks, including but not limited to completion of the acquisition, risk of shareholders not approving the acquisition and capital raising, due diligence, dilution, workers health and safety, reliance on major clients and key management.

 

Section 734(6) disclosure: The issuer of the securities is The GO2 People Ltd ACN 616 199 896. The securities to be issued are ordinary shares together with an option to acquire an ordinary share, for each ordinary share issued. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the disclosure document. Investors should consider the disclosure document in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document (which can be done via the electronic application form which will become available by clicking the bid button above).‚Äč

OnMarket has a limited allocation. The offer close and the 'Pay By' dates may change. Bids over $10,000 may be scaled back more heavily. Duplicate bids under the same investment profile or investor name will be combined into a single bid.

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The GO2 People Ltd (ASX: GO2), an ASX listed company, is a leading provider of vertically integrated recruitment, training and building services throughout Australia.  With Group revenues of ~$44m for FY19. In December 2018, GO2 Skills and Training was acquired, adding $0.8 million of annual revenue.  GO2 is raising capital as part of the acquisition of  Industry Pathways (IPW) for 3.75x EBITDA, or $5m consideration. IPW are a high margin, highly scalable online education and training provider.

 

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