Simble Solution’s placement oversubscribed

|

Published 03-AUG-2018 11:18 A.M.

|

2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.


Click Here to View Latest Articles

Simble Solutions Limited (ASX:SIS), an Australian software provider focused on energy management solutions, has taken another step towards the commercialisation of the Simble Energy Platform in Australia and the UK.

SimbleEnergy is an integrated hardware and software solution that enables businesses to visualise, control and monetise their energy systems. The company’s software-as-a-service (SaaS) platform has Internet of Things (IoT) capabilities and allows businesses to remotely automate energy savings opportunities to reduce their energy bill.

To support its growth the company today announced the successful completion of a $2 million oversubscribed placement of 13.3 million ordinary shares to institutional and sophisticated shareholders. The funds raised will be used to accelerate SIS’s growing sales pipeline in Australia and the UK.

The Placement was subscribed at $0.15, 3% or 0.5 cents below the five-day volume weighted average price (VWAP) (until and including 31 July 2018) — a price that’s in line with recent trading.

Overall this remains a speculative stock and as such any investment decision should be made with caution and professional financial advice should be sought.

Encouragingly, the placement attracted strong interest from new and existing institutional and sophisticated investors and was heavily supported by an existing UK investor.

The Company’s CEO, Fadi Geha commented: “The strong support shown by our existing shareholders and the demand from new investors is a testament to our position as the fastest growing energy SaaS company on the ASX.

“The proceeds will enable us to fuel the rapid growth of the company and accelerate the rollout of our disruptive IoT energy management platform in Australia and the UK as we seek to drive mass adoption in the SME and residential markets.”

News of the completed capital raising comes two days after the company released its quarterly report.



General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.

 

Discover Small Cap
Biotech Stocks

Join thousands of other Investors following our stock commentary for Free

X