Walbrook PR advises on GetBusy plc AIM IPO
04 August 2017
Walbrook PR, which provides high quality Financial PR and Investor Relations to Small Cap and AIM listed companies, announces its appointment as Financial PR advisor to GetBusy plc, the developer of SmartVault and Virtual Cabinet document management software, to manage communications with the financial media, research analysts and investors surrounding its Admission to AIM today and its rights issue raising £3.0m.
GetBusy, based in Cambridge (UK) was formed by the demerger of the document management software business and assets of Reckon Limited, an ASX listed technology group. GetBusy has two document management software products: (1) SmartVault for SMEs and (2) Virtual Cabinet for larger organisations in the Enterprise Content Market respectively.
The need to manage digital data and hard copy documents is a significant challenge for businesses using traditional digital storage and retrieval methods in standard computer operating systems. These systems are typically cumbersome, slow, not secure and lack a standardised approach to file storage and naming conventions. The SmartVault and Virtual Cabinet software products seek to address the potential for information chaos by optimising the capture, management, preservation and delivery for each individual document in the business. These products are already well established with over 51,000 individual customers across the UK, USA, Australia and New Zealand and more than 617,000 users registered to share documents on the online portals.
Aggregate sales for both products in 2016 totalled approximately £8.0 million (2015: £6.8 million) with subscription revenue accelerating by 21 per cent. to £6.5 million, or 82 per cent. of total revenue in 2016, highlighting the increasing levels of visibility due to its subscription based revenue model. The UK currently accounts for the majority of sales at £4.9 million in 2016, followed by £2.3 million from the US and £0.9 million across Australia and New Zealand.
GetBusy was expected to have a market capitalisation of approximately £13.7m on admission to AIM based on the rights issue price of 28.3p. On the first day of dealings the shares traded at 34p valuing the company at approximately £16.5m.
For more information visit the Company's website: www.getbusy.com
Paul Cornelius, Director and Head of the Technology team at Walbrook PR, said:
"As a disruptive developer of intuitive document management software, GetBusy is well placed to take advantage of rapidly changing market dynamics and further strengthen its impressive recurring revenue base.
"With headquarters in Cambridge and a strong UK customer base, AIM is a great fit for them as they develop their product portfolio. Following GetBusy's successful admission, we are very focused on helping the business grow and ensuring the market understands its full potential."
For further information please contact:
About Walbrook PR:
Walbrook PR was founded in April 2009 by Paul McManus and focuses on providing high quality Financial PR and Investor Relations to Small Cap and AIM listed companies.
Walbrook PR is ranked 3rd in the UK by number of Stock Market Listed clients and 2nd by number of AIM clients. Walbrook acts for 66 listed companies (mainly AIM) across a wide mix of sectors including Healthcare, Technology, Industrials, Support Services, Financial Services and Natural Resources.
Walbrook PR prides itself on having a strong reputation for working with growing UK Small Cap and AIM listed companies; a proven IR offering, which focuses on the Private Client Investment Management community and the retail investment community; and on having a proactive, hands-on approach from a committed team with full ownership of the business.