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    CPT   AU0000073827

CIPHERPOINT LIMITED

(CPT)
Delayed Australian Stock Exchange  -  12:10:18 2023-02-09 am EST
0.008000 AUD   +23.08%
01/27Cipherpoint Raises Funds to Drive Further Growth
MT
01/05Cipherpoint Limited Announces Retirement of Graham Mirabito from Board
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2022Cipherpoint Subsidiary Signs Services Deal with Healius to Roll Out VoIP Telephony in Australian Health Centers
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Cipherpoint Limited completed the acquisition of Excite IT Pty Ltd.

11/23/2022 EST

Cipherpoint Limited (ASX:CPT) entered into an agreement to acquire Excite IT Pty Ltd. for AUD 3.7 million on July 28, 2022. The acquisition price will be structured as a combination of cash and scrip. At completion the Excite IT shareholders will receive AUD 1.25 million cash consideration and 100 million in shares of Cipherpoint, which shall be voluntarily escrowed for a period of 6 months. Excite IT's shareholders will receive AUD 0.5 million on the date which is 12 months from completion of the acquisition. In addition, if for the 12 months ending June 30, 2023, the EBITDA for the Excite IT business on a standalone basis is no less than AUD 0.8 million, then Excite IT's shareholders will receive a further 50 million shares. Cipherpoint will conduct a capital raising to raise up to AUD 1.33 million which will be applied applied to acquisition cash consideration and costs. Excite IT achieved revenues in excess of AUD 3 million in FY 2022. Subject to completion, Excite IT's founder Bryan Saba will join the leadership team of Cipherpoint as Managing Director and Chief Executive Officer of Cipherpoint and will remain Chief Executive Officer of Excite IT. The transaction is subject to completion of due diligence, Cipherpoint successfully obtaining all necessary shareholder and ASX approvals, Cipherpoint raising sufficient funds for the upfront cash consideration of the transaction and CPT offering, and Bryan Saba, founder of Excite IT, accepting market-based service agreement. As of August 31, 2022, both Cipherpoint and Excite IT have successfully completed due diligence in respect of the proposed acquisition. As of September 27, 2022, Cipherpoint Limited announces that the funding condition precedent under its agreement to acquire Excite IT has been satisfied. As of November 4, 2022, the acquirer shareholders approved the issue of securities to the vendors of Excite. As of November 10, 2022, the transaction is expected to completed within coming days.

Cipherpoint Limited (ASX:CPT) completed the acquisition of Excite IT Pty Ltd. on November 23, 2022.


ę S&P Capital IQ 2022
All news about CIPHERPOINT LIMITED
01/27Cipherpoint Raises Funds to Drive Further Growth
MT
01/05Cipherpoint Limited Announces Retirement of Graham Mirabito from Board
CI
2022Cipherpoint Subsidiary Signs Services Deal with Healius to Roll Out VoIP Telephony in A..
MT
2022Cipherpoint Limited Reports Earnings Results for the Half Year Ended September 30, 2022
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2022Cipherpoint Completes Excite IT Acquisition, Appoints Managing Director
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2022Cipherpoint Limited completed the acquisition of Excite IT Pty Ltd.
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2022Cipherpoint Limited Appoints Bryan Saba as Managing Director
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2022Cipherpoint Limited Appoints Bryan Saba as CEO
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2022Cipherpoint Limited Announces Management Changes
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2022Cipherpoint Limited Announces Resignation of Tom Carolan as CFO
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Financials
Sales 2022 4,00 M 2,77 M 2,77 M
Net income 2022 -9,00 M -6,24 M -6,24 M
Net cash 2022 1,62 M 1,12 M 1,12 M
P/E ratio 2022 -0,80x
Yield 2022 -
Capitalization 6,29 M 4,36 M 4,36 M
EV / Sales 2021 12,2x
EV / Sales 2022 1,81x
Nbr of Employees -
Free-Float 65,1%
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Managers and Directors
Bryan Saba Chief Executive Officer, MD & Director
Steven Bliim Non-Executive Chairman
Mark Hitchcock Head-Operations
Kenneth George Benson Non-Executive Director
Patrick Gowans Secretary
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