Australian intelligent workforce solutions company, Tambla Limited (ASX: TBL) today on 18 March 2019 announced that it had secured funds worth $1.25 million via the issue of convertible notes. As announced by the company on 26 February 2019 about its wishes of raising a minimum capital of one-million-dollar fund via convertible note, with Kestrel Capital and clients of Taylor Collison.
Kestrel Capital is a related entity to Niall Cairns and Phillip Carter who are the Directors of Tambla Limited. The corporate advisor to this transaction was Taylor Collison. The funds raised from the convertible note subscription will be deployed primarily for investing in sales and marketing activities like initiatives to enhance the current growth plans of the company; however a part of the fund will also be used to expand and develop the growing inbound opportunities from North America.
As discussed in the annual report by the Non-Executive Chairman of the company for 2018, it had organic revenue growth of 11.3% during the period, with positive EBITDA and cash flow. The company had a strengthened balance sheet and was ongoing enhancement of the management team and technology solutions.
In Australia, there is an increasing requirement for the workforce automation, compliance and management solutions that the company provides. Additionally, the company experienced that there is an increased awareness about the “Intelligent Workforce Solutions” of the company. The “Intelligent Workforce Solutions” delivers significant benefits and management decision-making tools to its customers. One of the keys focuses for the new year is driving existing and new customer take-up of these market-leading solutions.
The company is continuing to expand the footprint of its Rostima solutions in Europe, the Middle East and especially in the North American airport sector. However, the main strategy overseas is the developing partnership program with an initial focus on the USA. Though it is early days, a current partner has pitched Tambla as part of its solution.
The target of the company is to double the revenue in the next 4-5 years, which should deliver strong profitability and cash surpluses. If the company can achieve such growth, in local markets and globally, then this might drive strong investor recognition, even greater (than the current) M&A interest and most importantly strong and sustainable shareholder value.
At the time of writing (18 March 2019 AEST 03:15 PM), the stock of Tambla Limited is trading at $0.010, up 25%, with a market capitalisation of ~$7.92 million. The stock has generated a negative YTD return of 20.0% and negative returns of 38.46% and 33.33% over the past six months and three months periods respectively. It had a 52-week high price of $0.019, with an average trading volume of 358,976.
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