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DJ FT8 plc Acquisition of 49% of Billyst Holdings Pty Ltd

                           ("FT8" or the "Company") 
The directors of FT8 are pleased to announce the acquisition of 49% of the 
issued shares of Billyst Holdings Pty Ltd ("Billyst"). Billyst is a recently 
formed Australian Fintech technology company. 
The acquisition is in line with the Company's strategy of investing in 
technology companies that operate in the Fintech sector where there are 
commercial synergies between the two companies and significant international 
growth opportunities. 
The acquisition is based on a share for share exchange between the two 
companies. Billyst will issue 961 shares to FT8 for a 49% holding in the total 
issued share capital of Billyst. FT8 will issue 142,441,860 Ordinary shares at 
1 penny to the shareholders of Billyst as consideration for FT8's 49% holding 
in the total issued share capital of Billyst. This values the Billyst 
investment at GBP1,424,419 (and accordingly values Billyst at GBP2,906,978). 
On completion of the transaction Billyst will hold 16.2% of the shares in issue 
in FT8. 
Billyst is currently owned and controlled by Messrs Tim Alford and Marshall 
McKendrick. As a recently formed company it does not have any historical 
 financial information. However it has spent over GBP267,000 on developing the 
company technology platform with a key new software component due to be 
released in January 2017. Billyst currently has over 30 commercial client trial 
programs in the field. 
Under the Sale and Purchase Agreement between the companies Billyst agreed to 
loan FT8 $A500,000 (approximately GBP297,000) within 3 business days after the 
lifting of the suspension in the trading of FT8 ordinary shares. Such a loan 
would be unsecured, interest free and be repayable on a mutually agreed 
timetable which will be not less than 18 months in duration. The funds from the 
loan will be used for business development programs and operational expenses. 
However, the Directors have been notified by Billyst that its ability to make 
the loan is dependent upon its ability to raise further monies from new and 
existing investors and, accordingly, at this stage there can be no guarantee 
that the fundraise will complete or that the loan will be made. 
If the loan is not made by 7 December 2016 then FT8 will seek the normal 
commercial recourse to ensure the fund commitment made by Billyst is fulfilled. 
Further updates will be provided by FT8 in due course. 
Billyst has the right to appoint a director to join the board of FT8, subject 
to approval from FT8's Corporate Adviser, and a representative of FT8 will be 
invited to join the board of Billyst. 
Billyst is an early stage business which seeks to operate in the technology 
area of debt collection systems and is establishing operating activities within 
the Australian real estate and short term money lending sectors. The directors 
of Billyst believe they have identified significant growth opportunities in the 
USA and within the ASEAN countries of Asia apart from the clearly identified 
market openings within Australia. 
As a technology company Billyst has developed its own  systems which form the 
basis of its commercial platform. The directors of FT8 believe the operating 
platform is easily scalable and available for overseas licensing or direct 
operations in overseas markets depending on the appropriate market 
Working Capital Position 
The directors of FT8 are aware that the Company's working capital position 
remains constrained and continue to keep this under review. However the 
Directors are confident that there are a number of exciting opportunities in 
the pipeline for the Company and further announcements will be made in due 
For further enquiries: 
Phillip Pryor, FT8 Plc    +60 19 212 8026 
Katy Mitchell, WH Ireland Limited    +44 113 394 6618 

(END) Dow Jones Newswires

November 21, 2016 08:20 ET (13:20 GMT)