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About Cape Range Ltd

Cape Range Ltd

Cape Range Limited (ACN 009 289 481) (Company or Cape Range) was incorporated as an unlisted public company limited by shares on 11 January 1988 and was previously listed on the Official List. Since the Company’s removal from the Official List on 24 March 2016, the Company has been investigating a number of options with a view of acquiring a business and/or assets to enable the recapitalisation of the Company and its re-listing on the ASX.

On 22 June 2017, the Company, Biztrak Business Solutions Sdn Bhd (Biztrak) and the shareholders of Biztrak entered into a binding acquisition agreement, pursuant to which the Company agreed to acquire 100% of the fully paid ordinary shares in Biztrak from the Biztrak Shareholders. As a result Cape Range has acquired all of the assets of Biztrak business solutions, including it’s Research and Devlopment Company and its IP (Intellectual Property).

It’s critical to note here that Biztrak has audited EBITDA of over $500K p/a for the past three years and Cape Range now own the revenues and the existing customer base of 37,000 users from 18,000 SME’s in 18 countries.

The IPO offers 22,500,000 shares on a minimum raise of $4.5 million to have a total of 68,078,280 shares on issue at listing with the Vendor representing just under 50%. Biztrak must deliver $1.750 Million EBITDA performance for 2018/19 for the Vendor to receive their performance rights. Other companies in this sector can trade between 12-20 times multiples. Shares issued to the Vendor on company performance are escrowed for two years as are shares issued to Directors and Brokers. See full details in the Prospectus here.

Who Is Biztrak?

Every day, businesses can lose money if they make decisions on incomplete and scattered information. Biztrak systems help management make better informed decisions with high functioning, low cost accounting and business intelligence solutions.

BIZTRAK was founded in Malaysia in 1995 and is now an established and profitable software development company specialising in accounting and business intelligence software. Their software is used by over 18,000 SME’s in all types of industries, in 18 countires. See www.biztrak.com

Biztrak developed their e-Bridge software solution to seamlessly integrate data from other systems and companies, in multiple countries and currencies, so they could integrate and centralise key business information in real time. e-Bridge complies with both Goods & Services Tax (GST) and Value-added Tax (VAT) regulations and the International Financial Reporting Standards (IFRS). Using electronic data exchange to centralise all this information, provides management with an extremely valuable tool that greatly improves business intelligence to support their decision making.

Biztrak currently have over 37,000 users from SME’s across all industries including retail, trading, logistics, healthcare, e-commerce, manufacturing, financial sectors, and higher education.

Biztrak customers are mainly in Asia, with the majority of current customers located in Malaysia, Brunei and Singapore. Biztrak sees the Australian and New Zealand markets as the logical next stage for the growth of its business with the launch of its SaaS offering.

Biztrak has a wholly-owned Malaysian subsidiary, Biztrak R&D Sdn. Bhd. (BRD), which is principally involved in software research and development (R&D).

Read more about Biztrak Technology here.