Wednesday, 23 September 2020 12:29

Investors get behind Linius $5 million capital raising Featured


Australian-listed cloud-based IT solutions provider Linius Technologies says it has received firm commitments from professional investors to raise $5 million.

Linius (ASX: LNU) says the placement received strong support from new institutional shareholders as well as continued support from existing shareholders and includes an investment of approximately $210,000 from Linius directors, subject to shareholder approval to be sought at a general meeting of shareholders to be held as soon as practicable.

The Placement will result in the issue of 178,571,429 fully paid ordinary shares at $0.028 per share to raise $5 million, before costs.

Linius will use the placement proceeds to drive revenue growth with a specific focus on converting existing clients and near-term opportunities to immediate and sustainable revenues, and to:

  • assist LiveTiles in selling their Intelligent Meeting Solution, of which Linius is the backbone OEM provider; 
  • continue to develop the AI Meeting Solution, with integrations with Webex and Zoom being planned;
  • and  promote the solution into the global video conferencing market which, with its 100’s of millions of users, represents a significant opportunity for Linius.

Linius says its entry into the video conferencing and collaboration technologies market, with LiveTiles as an anchor client, is an important factor in its growth, with video conferencing becoming a critical requirement, enabling working from home and business continuity planning strategies. 

“The company believes it has the technology suite in place, with the IP protected by granted patents, to deliver recurring revenue growth,” Linius said in a statement.

“At the same time as the company is focussed on execution of its go to market strategy it does not foresee any material increase in near-term expenditures with any new expenditure having significant revenues as a pre-requisite.”

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Peter Dinham

Peter Dinham - retired and is a "volunteer" writer for iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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