Spectur makes ASX splash David Swan12:10PM August 1, 2017 [IMG]...

Spectur makes ASX splash
David Swan12:10PM August 1, 2017

Spectur managing director Peter Holton. Source: Supplied.
Perth-based security outfit Spectur has landed on the ASX, raising $4.5m through its IPO with a market cap of $8.2 million.

The company, which provides solar powered high definition security camera networks connected via 3G and 4G telco networks, garnered investment from investors including Paul Kehoe, the former head of Syrah and former chairman of Aurora, Melbourne investor Harry Hatch, who has holdings in Copper Strike (CSE) and Brisbane investor, Peter Anthony.

“We have listed to raise funds to enable us to speed up our expansion into other markets. In the short term we have expanded nationally, commencing with our office opening in Melbourne, and we will be following that with Sydney over the coming months,” managing director Peter Holton said.

“We plan on having a national footprint for the business and once we are set on that path we can also look to expand to international markets.”

Mr Holton said with clients like Lend Lease, Rio Tinto and Iluka Mining, Spectur Limited’s system acts as a preventive night-time crime technology and is also a proven workplace management tool for monitoring employee productivity and helping meet OH & S requirements.

He said revenues are forecast to be $1,325,000 for the 12 months to 20 June 2017.

“Even though there are a number of tech companies listed on the ASX, we feel we can differentiate ourselves from many of them who are still at the early development stage. We have a proven product being used by tier one clients in WA, generating upfront and recurring revenues,” Mr Holton said.

“[Listing is] very complicated and very time consuming. Everything from due diligence committees, financial and IP audits to a wide range of compliance issues. We’ve been helped through this by experienced advisers, lawyers and independent experts, which has made the process less difficult.

“It was time consuming, but the upside is, by going through this process, Spectur has been able to formalise its internal systems and corporate governance policies and processes, which will be essential as we move forward as a listed company. In short, while not an easy process, we’ve taken as many positives out of the process as possible.”

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