Update: A$1m placing to fund growth
TZ has just completed a A$1m placing to provide additional working capital to fund growth. This follows a recent upgrade to FY15 revenue guidance from A$15m to between A$18m and A$20m. A new order for employee day lockers in Westpac’s Barangaroo offices is expected to contribute significantly to this uplift. We estimate that this contract alone could contribute c A$2.4m to revenues and further upside could come from the recently announced Hills order and potential distribution agreement for OurPAD lockers. Triggers to significant share price upside include deployment expansion and new contract winsTZ is engaged in the development of devices and device systems that enable the commercialisation of hardware and software solutions for the management, control and monitoring of business assets and the provision of associated services through its subsidiaries. All of Co.'s operations are based in Australia, the U.S., and Singapore.
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