Registry Direct (ASX:RD1) to list on the ASX

08/27/2017 | 08:35pm

Registry Direct (ASX:RD1) CEO, Steuart Roe, discusses the company’s IPO and its expanding SaaS share registry business.

Registry Direct (ASX:RD1) CEO, Steuart Roe, discusses the company’s IPO and its expanding SaaS share registry business.


Carolyn Herbert:
Hello. I’m Carolyn Herbert from the Finance News Network and joining me from registry provider Registry Direct is CEO Steuart Roe. Steuart, welcome back.

Steuart Roe: Thanks for having me.

Carolyn Herbert: Now, for investors who aren’t familiar with the company, can you start by giving us an introduction to Registry Direct?

Steuart Roe: Sure. So we provide share registry software and services to both listed and unlisted companies in trust. We do this using software as a service platform. It’s cloud-based, it’s engaging and it gives clients that sort of modern user feel that they’ve come to expect. Now what that means is that our technology is available to a much broader audience. Essentially, we are the Xero of share registry.

Carolyn Herbert: And, Steuart, now to your offering, what are your key client segments and what’s your marketing strategy?

Steuart Roe: Yeah. So, in terms of our key market segments, there’s two broad areas. There’s the unlisted space, where we can service the vast array of 1.5 million odd unlisted companies in the Australian marketplace and a range of unlisted trusts. On the listed space, there’s a much smaller universe, but they’re bigger clients, of some 2.5 thousand clients. We’ve established relationships with the leading providers of company secretarial software.

Our marketing strategy is to encourage accountants, lawyers and company secretaries to utilise our software and act as the register on their behalf. In addition, we’ve just hired a digital marketing specialist to drive our inbound marketing strategy, to cement those relationships and grow our customer base.

Carolyn Herbert: Steuart, you completed a pre-IPO funding round in June. What was the response there?

Steuart Roe: The response was extremely pleasing. We raised over $1.7 million from a range of investors. We’re certainly expecting that a number of those will also participate in the IPO.

Carolyn Herbert: And, Steuart, now to your IPO. How much are you looking to raise and when do you expect to list?

Steuart Roe: We’re looking to raise between $2 million and $6 million. For each of the applicants, they will not only receive a share, they’ll also receive an attaching option. In terms of the timetable listing, we’re expecting to list in early October.

Carolyn Herbert: So, Steuart, where will the funds be going?

Steuart Roe: So, the funds will probably be going on our sales and marketing efforts. Also to employ additional staff in the lead up and to support our scaling of the operations of our business. And finally, to expand and deepen our product range, and that’ll also make it more difficult for competitors to come into the marketplace.

Carolyn Herbert: So, Steuart, where can people find out more about the IPO?

Steuart Roe: They’ll be able to download a copy of the prospectus from our website at www.registrydirect.com.au. They could also get a copy off Sequoia Corporate Finance (ASX:SEQ), or of course they could speak to their personal financial advisor.

Carolyn Herbert: And finally, Steuart, what are some of your key milestones for the next 12 months?

Steuart Roe: Well, we’ve got a number of milestones that we’re aiming to complete over the next 12 months. The first one is extra connectivity between our system and our channel partners. We’re also intending to build out a greater employee share scheme administration functionality. And finally, we are looking at various paths and ways in which we can capitalise on the new crowdfunding laws that are coming in into Australia.

Carolyn Herbert: Very good. Steuart Roe, thank you for the update.

Steuart Roe: Thank you.


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