Results Announcement and Presentation Slides
Sydney, Feb 29, 2016 AEST (ABN Newswire) - Leading big data solutions company Invigor Group Limited (
ASX:IVO) ("Invigor" or "the Company") has today released its Appendix 4E - Preliminary Report for the year ended 31 December 2015. The results remain subject to audit completion.
Preliminary financial results announced with new financing facilities agreed
- 31 December 2015 preliminary results
- Future growth underpinned by 50% contracted and/or recurring revenue
- Condat forecasts $8m revenue, 75% already committed
- Growing short list of larger and longer term deals for Insights
- New finance facilities agreed
- Share Purchase Plan announced
Invigor has reported revenue for 2015 of $5.3 million and a consolidated loss before interest, tax, impairments, depreciation and amortisation of $2.1 million (subject to audit completion). The result reflects:
- the first full year contribution from the Insights product range;
- integration of Condat AG since becoming acquired effective 1 November 2015; and
- the impact of executive management and senior staff changes which occurred during the last quarter of 2015 which delayed the revenue generated by Australian operations, with significant one off costs, resulting in a direct effect on the bottom line result.
Please refer to the Appendix 4E and 31 December 2015 Preliminary Financial Statements released today for further information.
The Company today has more than 50% of its forecast 2016 revenue under contract or recurring. The acquisition of Condat at the end of 2015 has provided the Company with additional product and resources to enable it to execute on its strategy together with a more secure contracted revenue base.
Invigor has made a positive start to 2016 with contract wins for the Insights range together with increased downloads of its consumer product, Shopping Ninja. Currently the Insights Retail pipeline continues to grow with several major large scale and longer term contracts being finalised.
Additional information is contained in the accompanying presentation slides.
New Funding Facilities
Invigor advises that it is agreed terms with a fund controlled by L1 Capital Pty Ltd ("L1 Capital") and has finalised a new agreement with Marcel Equity Pty Ltd ("Marcel").
L1 Capital facility
Invigor has signed a Term Sheet for a short term facility with L1 Capital with a face value of $1.0 million. Final documentation is expected to be executed this week.
Invigor will issue 3,000,000 shares to L1 Capital at Completion as collateral security for repayment of the loan ("Collateral Shares"). L1 Capital has the option to acquire the Collateral Shares for cash at the end of the Term at the lower of 7.6 cents per share and a 15 day VWAP calculation as defined in the agreement.
The shares will be transferred back to the Company if not acquired by L1 Capital.
L1 Capital will also be granted 6,578,948 options over shares in Invigor ("Options"). The Options will have an exercise price of 7.6 cents each and will expire on 30 June 2018. There are no vesting terms.
Marcel facility
Invigor has also entered into a $500,000 short term interest bearing loan facility with Marcel, a company associated with directors Gary Cohen and Gregory Cohen. The facility is available until 31 March 2017.
Share Purchase Plan
Invigor has today announced a Share Purchase Plan ("SPP"). Eligible shareholders are able to acquire up to $15,000 of additional shares in the Company at 4.0 cents per share subject to the terms of the SPP. SPP documents are in the process of being despatched to eligible shareholders. The application period closes on 21 March 2016. Please refer to the SPP announcement made today for additional information.
To view the presentation, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-IVO-909551.pdf
About Invigor Group Ltd
Invigor Group (ASX:IVO) uses its complementary suite of big data products to source, aggregate, analyse and publish content for the benefit of businesses and consumers.
Today its interconnected data sets enable enterprise clients including retailers, brands, shopping centres and government bodies to identify and better understand competitors, consumers, markets and demographics while providing the consumer with the best value-for-money.
Using its current products and a pipeline of additional offerings Invigor will have the ability to provide an end-to-end solution spanning sales, product management, business intelligence, marketing, advertising, content creation and distribution, while monetising each step of the process.
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