1-Page plans $7m backdoor listing

22/05/2014 - 10:51

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Silicon Valley-based online recruitment company 1-Page has outlined plans to launch a backdoor listing on the ASX through mining exploration company Intermet Resources.

1-Page plans $7m backdoor listing

Silicon Valley-based online recruitment company 1-Page has outlined plans to launch a backdoor listing on the ASX through mining exploration company Intermet Resources.

Intermet today announced it has exercised its option to acquire 1-Page in a $10 million all-scrip deal after completing due diligence on the company.

It has appointed Foster Stockbroking and KTM Capital as joint lead managers for a $7 million prospectus offering at 20 cents per share.

The offering is conditional on Intermet obtaining shareholder approval.

The explorer completed a $400,000 placement as part of the deal, with DJ Carmichael acting as lead manager.

1-Page allows companies to individually rank and prioritise job candidates based on their ability to solve real-time challenges and achieve objectives.

It also applies predictive data to identify candidates most suitable for interviewing.

The company believes listing on the ASX will provide a platform for rapid expansion into Asian markets and reduce hurdles in its plans for a dual listing on the NASDAQ.

Its American clients include First Republic Bank and major liquor retailer BevMo.

Intermet expects to lodge its prospectus with the Australian Securities and Investments Commission in early July ahead of a requotation of its shares on the ASX in August.

Its shares were trading 11 per cent higher at 1 cent at 10:47am WST.

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