Offer closed

Investment opportunity in Enzumo

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ENZUMO an Australian financial technology and e-learning business

CMC Markets

Structure of the transaction

Goldminex Resources Limited (GMX.ASX ) an exploration company with a focus on deposits in Papua New Guinea has been listed on the ASX since 2007. On completion of the capital raising GMX.ASX will acquire the Enzumo Group and then be renamed to Enzumo Limited thus transforming the company from gold exploration company into a growing financial technology company.

Company Overview

Enzumo is a financial technology and e-learning business focusing on the highly regulated Australian financial planning and advisory industry. Enzumo is a highly successful Xplan customisation group in Australia with an established customer base that includes MLC, a division of NAB and ANZ Bank.

Source of revenues

  • Solutions and software services produce a combination of advisory fees, software licences and support and maintenance fees
  • e-Learning Management Systems produce Software as a Service (SaaS) and hosting revenues, which are usually multiyear monthly subscription fees plus configuration fees

The majority of Enzumo’s revenue is derived from licenses, support and maintenance and subscriptions.

Enzumo’s marketing and distribution network

Enzumo markets and distributes its solutions, building long term direct relationships with its customers. The acquisition will enable Enzumo to expand its capability significantly.

Details of capital raising

**Early closure of ASX BookBuild facility for Enzumo offer**
Please note that Goldminex Resources Limited (ASX:GMX) announces that its Enzumo General Offering through the ASX BookBuild facility will no close at 3pm on Monday, 20 April 2015. Applications under the General Offering however, will still be accepted until the close of the Offer at 5pm (AEST) on Thursday, 23 April 2015

Issue price:$0.20
Minimum bid:10,000 new shares ($2,000) then in multiples of 1,000 new shares ($200) thereafter
Number of shares:26,250,000
Amount to be raised:$5,250,000
Market capitalisation at offer price (20 cents):$10,505,877
Offer open:20 March, 2015
ASX BookBuild open:7 April, 2015
ASX BookBuild close:3pm (AEDT) 20 April 2015
Offer close:23 April, 2015
Settlement date:29 April, 2015
Re-quotation of shares on ASX:5 May, 2015
Stamping fee:4%
Technical lead manager:CMC Markets Stockbroking Limited
Access:All brokers via ASX Book Build (ASX code GMXXBB)
Issuer website:https://www.enzumo.com/

Download the investor presentation

Read the FAQs

CMC Markets interview with Mr Andrew Rawlinson, Chairman of Enzumo

How to apply

For existing CMC Markets customers

  1. Carefully read the prospectus (complete web form below) and the ASX BookBuild Client Agreement
  2. Log on to the CMC Markets Stockbroking trading platform and follow the prompts (available after 7 April 2015)
  3. Ensure you have sufficient funds in your linked cash account for settlement

For new customers

  1. Carefully read the prospectus (complete web form below) and ASX BookBuild Client Agreement
  2. Complete a CMC Markets account application form
  3. Once your account has been approved, log in to the trading platform and apply online
  4. Ensure you have sufficient funds in your linked cash account for settlement

What happens next?

  • On receipt of your application CMC Markets will enter your order in security code GMXXBB into the market via the ASX BookBuild process on your behalf
  • CMC Markets will then forward your application form to Computershare Investor Services
  • If you are successful in securing an allocation it is expected holding statements will be despatched on 4th May, 2015
  • You can cancel or amend the quantity of the order by calling CMC Markets on 1300 136 323

To get a copy of the prospectus please complete the below form

Thank you! You can download the prospectus here

Download the investor presentation


FAQs

Who is Enzumo?

Enzumo is a growing Australian financial technology and e-learning company providing the financial planning and advisory industry with software and workflow solutions, e-learning management systems and content.
Enzumo is Australia’s largest and most experienced Xplan customisation group helping corporates, dealer groups and financial planners maximise the power of Xplan effectively.

What is the relationship between Goldminex and Enzumo?

Goldminex Resources Limited (GMX.ASX) an exploration company with a focus on deposits in Papua New Guinea has been listed on the ASX since 2007. On completion of the capital raising GMX.ASX will acquire the Enzumo Group and then be renamed to Enzumo Limited thus transforming the company from gold exploration company into a growing financial technology company.

Who will be the key customers of Enzumo?

The customer base of Enzumo includes National Australia Bank’s National Wealth Management and MLC divisions (NAB), ANZ Bank (ANZ), Centrepoint Alliance, Equity Trustees and a range of other financial planning dealer groups and independent financial planning practices. The intention is to expand the customer base over the next few years.

How is revenue generated?

Enzumo generates revenue as follows:

  • Solutions and software services produce a combination of advisory fees, software licences and support and maintenance fees
  • E-Learning Management Systems produce Software as a Service (SaaS) and hosting revenues, which are usually multiyear monthly subscription fees plus configuration fees

The majority of Enzumo’s revenue is derived from licenses, on-going support and maintenance and subscriptions.

Is Enzumo profitable?

Yes, Enzumo has a track record of strong growth in revenue (>50% license and Software as a Service (SaaS) revenue) and EBITA. Enzumo has a strong balance sheet with no debt and significant cash reserves.

June year endPro Forma FY2012 $'000Pro Forma FY2013 $'000Pro Forma FY2014 $'000Pro Forma HY2015 $'000
Revenue1,7632,3792,3741,656
EBITDA1918158582
EBIT158(13)143576
NPAT149(13)143575

The pro forma historical consolidated financial performance of Enzumo has been compiled from the audited and unaudited financial information of each of the following individual entities Enzumo Admin Pty Ltd, Enzumo Group Pty Ltd as trustee of the eLMS Solutions Unit Trust and Enzumo Group Pty Ltd as trustee of the Enzumo Consulting Unit Trust for the following periods, FY2012 (unaudited), FY2013 (audited), FY2014 (audited)
and HY2015 (unaudited) (refer to Section 7.2 for the basis of preparation).

What is the reason for the capital raising?

Proceeds from the capital raising will be used to finalise the acquisition of Enzumo and assist in the expansion the business through further market and product development whilst also allowing for further acquisition opportunities.

What is the Company’s dividend policy?

Following completion of the Acquisition, the Company does not expect to pay a dividend in the near term and funds raised will be allocated to the growth and development of the business. The Board will review the dividend policy on a regular basis. Any future payment of dividends will be at the discretion of the Board.

What is the offer?

For existing Goldminex shareholders
Existing GMX shareholders are entitled to a pro rata non-renounceable entitlement offer of one (1) New Share for every GMX Share held on the Record Date on a post-Consolidation basis, at an issue price of 20 cents per New Share.

For new investors
The Company is inviting applications from the public to issue New Shares at an issue price of 20 cents each.

The minimum application amount is $2,000 and in multiples of $200 thereafter. Application amounts are subject to potential scaleback should the offer be oversubscribed.

The maximum number of New Shares to be issued under the offer is 26,250,000 New Shares, to raise $5,250,000. This is also the minimum subscription.

What will be the market capitalisation after the capital raising?

The expected market capitalisation at the offer price of 20c per share will be $10,505,877

When will I be notified of my allocation?

Confirmations of successful Application in the form of holding statements are expected to be despatched by post on or around 4 May 2015.

How do I participate in the IPO?

Step 1. Carefully read the prospectus and the ASX Book Build Client Agreement
Step 2. Log on to the CMC Markets Stockbroking platform and apply online
Step 3. Ensure you have sufficient funds in your linked cash account for settlement

My current broker does not participate in the ASX Book Build. How can I apply?

Step 1. Carefully read the prospectus and ASX BookBuild Client Agreement
Step 2. Complete a CMC Markets Application Form 
Step 3. Once your account has been approved, log in to the CMC Markets Stockbroking platform and apply online
Step 4. Ensure you have sufficient funds in your linked cash account for settlement

For advisors/planners who wish to participate but do not have access to ASX Bookbuild via your incumbent broker

Step 1. Each client will need to open an account with CMC Markets Stockbroking
Step 2. Once the account has been approved, log on to the CMC Markets trading platform and submit your bid online
Step 3. Ensure there is sufficient funds in the linked cash management at settlement
Step 4. You can choose to keep your account with CMC Markets or transfer your holding to your existing broker at nil cost (assuming there is no change in beneficial ownership and registered details match exactly with your existing broker)

What is ASX BookBuild?

ASX BookBuild is an additional tool for brokers and investment banks can use when advising listed entities, or entities seeking to list, on how to price and allocate new securities.

ASX BookBuild utilises existing ASX systems and infrastructure. It is aimed at providing a bookbuild process that provides the opportunity for all eligible investors and ASX participants (brokers) to participate in the bookbuild.

ASX BookBuild enables issuers and lead managers to capture all-of-market demand. It combines the most effective capital raising practices with principles of market integrity from the secondary market. This will produce better price discovery and corporate governance outcomes for all market participants.

Is there an alternative to ASX BookBuild?

Yes. You can also apply directly through issuer.
For a copy of the prospectus visit www.enzumo.com.au

Is there brokerage, commission or duty payable?

No brokerage, commission or duty is payable by an Applicant for acquisition of New Shares under the Offers.

Can I change or cancel my indication of interest?

Yes, to cancel or amend the quantity of your bid call CMC Markets Dealing team on 1300 136 323 before 5pm Wednesday, 22 April 2015.

What are the key dates?

General offer opens20 March 2015
Record date for the consolidation20 March 2015
Notice of revised, post consolidation holdings sent to shareholders27 March 2015
Notice of entitlement offer sent to shareholders31 March 2015
Ex date for the entitlement offer11 April 2015
Record date for for eligible shareholders to participate in the entitlement offer7 April 2015
ASX Book Build opens7 April 2015
Entitlement offer opens9am (AEDT) 9 April 2015
ASX Book Build offer close3pm (AEDT) 20 April 2015
Offer closes5pm (AEDT) 23 April 2015
Settlement date29 April 2015
Expected allotment date30 April 2015
Expected despatch of holding statement4 May 2015
Re-quotation of shares (including new shares)5 May 2015

Need more information?

If we can be of further assistance please call or email our Broker Services team on 1300 557 561 or brokingservice@cmcmarkets.com.au


IMPORTANT INFORMATION

The above information has been extracted from multiple sources including the issuing company's website and the prospectus.

CMC Markets does not endorse any material, recommendations, commentary, analysis, trade suggestions or external research discussed or distributed by or on behalf of any external Company or provider and does not accept any responsibility for any claims, liability, loss or damage arising out of or in connection with any external Company or provider. The information contained in this website and offer document does not constitute personal financial advice. We recommend you review all disclosure material and seek your own independent legal, taxation or investment advice as appropriate before making an investment decision. CMC Markets Stockbroking is not licensed to provide you with margin lending related services or advice.

Anyone who wants to acquire shares will need to carefully consider the offer and complete the CMC Markets Bookbuild Agreement before placing a trade.

For more information on ASX Bookbuilds please visit the ASX fact sheet at: asx.com.au/documents/professionals/ASX_Bookbuild_Brochure.pdf

CMC Markets Stockbroking is the trading name of CMC Markets Stockbroking Limited (ABN 69 081 002 851 AFSL No. 246381), Participant of the ASX Group. Please refer to our Terms and Conditions for more information about the stockbroking services and our Financial Services Guide for information about fees and charges. These documents are available from cmcmarkets.com.au or by calling 1300 360 071. You should consider your own investment objectives, financial situation and particular needs before acting on any information provided.

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