DVI Accelerates Acquisition of Remaining 50% of FSA to Drive iBuyNew.com.au
Sydney, Aug 12, 2016 AEST (ABN Newswire) - Disruptive Investment Group Ltd (
ASX:DVI) ("DVI") are pleased to provide an Investor Presentation regarding the acquisition of the remaining 50% of Find Solutions Australia ("FSA"), owner and operator of iBuyNew.com.au ("IBN").
DVI OVERVIEW
DVI operates iBuyNew.com.au, a leading Australian online marketplace that helps buyers find, compare and buy new property. DVI has a highly experienced board and management team that has a history in technology, corporate finance and sales, which it applies to increase the growth and profitability of its investments.
- On 1 July 2015 DVI acquired 50% of Find Solutions Australia owner and operator of iBuyNew.com.au with the option to acquire the remaining 50% by 2019;
- On 29 March 2016 DVI announced its intention to accelerate the exercise of its option to acquire the remaining 50% of FSA ("Transaction"); and
- The Transaction is subject to a number of conditions precedent and an EGM for shareholder approval expected to occur in September 2016.
Key terms of the Transaction terms for the remaining 50% stake include:
- Total consideration of $5.9m comprising;
- Cash consideration of $1.5m with amended payment terms (refer to notes);
- Script consideration of $4.4m representing approximately 75% of the purchase price. DVI scrip to be issued at 1.8c per share;
- Founder and CEO of IBN to hold ~30% stake in DVI upon completion; and
- Vendors have warranted at least $2,500,000 in future commissions receivable.
IBUYNEW OVERVIEW
iBuyNew has sold over $285 million worth of properties and currently has access to over $1 billion worth of stock across 150+ developments comprising of 3,500+ listings.
- iBuyNew is a facilitated marketplace for property buyers looking to purchase new property. The platform facilitates transactions between buyers and developers of new property;
- Unlike lead generation businesses, iBuyNew's in-house consultants actively assist the buyer through all aspects of the sales journey, from search, comparison to settlement and beyond;
- iBuyNew's platform is also available to external distribution partners such as independent real estate agents, mortgage brokers and financial planners who can;
-- Refer potential buyers to iBuynew's internal consultants; or
-- Assist their clients to purchase through iBuyNew's Platform
- iBuyNew generates revenue through sales commissions on properties sold on through its platform; and
- To date, iBuyNew has been heavily focused on sales of Off The Plan (OTP) apartments. As part of its strategy to provide a more complete offering to prospective buyers as well as diversify its revenue stream, iBuyNew has launched the pilot of a House and Land marketplace (H&L) effectively doubling its total addressable market.
To view the full presentation, please visit:
http://abnnewswire.net/lnk/CO1C06IN
About Disruptive Investment Group Ltd
Disruptive Investment Group Ltd (ASX:DVI) operates iBuyNew.com.au, a leading Australian online marketplace that helps buyers find, compare and buy new property.
iBuyNew.com.au is where Australians go to buy new property. The platform allows prospective buyers to compare, review and buy more than 3,500 listings across 150+ developments, as well as a range of new house and land packages. A highly experienced iBuyNew consultant is available to provide guidance and clarity.
DVI has a highly experienced board and management team that has a history in technology, corporate finance and sales, which it applies to increase the growth and profitability of its investments. The board is committed to providing management with the assistance and contacts required, in order to take their businesses to the next level.
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