SYDNEY, AUSTRALIA: Complii Fintech Solutions Ltd will offer to acquire all of the fully paid ordinary shares in PrimaryMarkets Limited by way of an off-market takeover, a news release said.
PrimaryMarkets enables secondary trading (buying and selling) of securities in unlisted companies and funds in a secure, controlled, transparent and efficient online platform environment.
As well as providing companies access to its investor network, PrimaryMarkets also assists companies with their capital raising endeavours and share registry requirements.
In this regard, PrimaryMarkets has created a versatile technology enabled platform to provide liquidity.
PrimaryMarkets’ revenues are generated from both annuity income and at the individual transaction level. Revenue is derived from a range of sources including upfront listing fees, set-up fees, trading fees, monthly/quarterly administration fees, administration fees, corporate advisory fees and ancillary fees such as registry services.
Subject to the completion of the Proposed Acquisition PrimaryMarkets will become a wholly owned subsidiary of Complii. Upon completion of the Proposed Acquisition PrimaryMarkets shareholders will own approximately 25% of Complii on both an undiluted and fully diluted basis.
Gavin Solomon is the Founder and Executive Co-Chairman of PrimaryMarkets. Gavin has over 35 years’ experience in the Australian and Asian Equity Capital Markets. Gavin was previously the Founder and Managing Director of Helmsec Global Capital Pty Limited, a then pan-Asian ECM house which participated in new capital raisings of over A$1.7B from 2008 to 2015.
Helmsec is now a wholly owned subsidiary of PrimaryMarkets. Gavin holds degrees in Commerce and Law, is a Notary Public and is a Fellow of the Australian Institute of Company Directors. Gavin has been a past Chairman and Director of ASX listed companies.
Complii FinTech Solutions is a secure digital platform that removes the need for paper based compliance. This customisable software has been designed to automate, record and report on an AFS Licensee’s and Brokers compliance obligations.