TRAC GROUP BEATS PATH TO THE ASX

Written on the 21 January 2016 by Jenna Rathbone

TRAC GROUP BEATS PATH TO THE ASX

BUILDING products company Trac Group Holdings is the first stock market listing for a Gold Coast-based business in 2016, with a modest $6.5 million public float.

Trac Group has lodged a prospectus with the ASX offering 26 million shares at 25c each.

The Southport-based company designs sustainable roofing concepts under the Tractile brand, with its patents aiming to meet the growing worldwide demand for energy efficient solutions to buildings.

Chairman David Fagan, who is also a director of Medibank Private, says money raised from the offer will be used to fund the expansion of the company and its sales and marketing capacity in Australia.  It will also assist in the planned international roll-out of its products.

"I have personally invested in the company and purchased Tractile products to roof and power my home," says Fagan.

"This offer provides the opportunity to own shares in a company that has developed award-winning innovative and sustainable roofing solutions, protected by an intellectual property portfolio."

Fagan says worldwide there are 514 cities with a population of more than one million, and 211 of these have patents for Trac Group products.  Meanwhile, a further 257 have patent applications pending.

While the Australian roofing services industry is worth $3 billion, Fagan says solar solutions in global markets are expected to grow significantly.

"Trac Group is well positioned to pursue commercial advantage from this opportunity," he says.

Trac Group managing director Jason Perkins (pictured) says the company is working to commercialise its building products including its roof tiles.

Tractile replaces tiles and metal sheeting with light-weight composite tiles that generate both electricity and heated water for buildings.

"Roofing has been undervalued as an asset with little in the way of innovation in decades,'' says Perkins.

"Climate change is causing a need for products resistant to extreme weather, and increased political and consumer support for renewables and sustainability."

He adds that generational trends of population growth and globalisation are increasing the demand for housing and energy.

"Tractile delivers an award-winning, innovative and sustainable roofing solutions that reduces materials and labour while increasing design, performance, renewable energy and sustainability," he says.

"The average home can power itself by harvesting the sun's energy from less than 25 per cent of the available roof area.

"Instead of being a dumb, passive depreciating asset the roof can become a financial asset.

"I believe Tractile redefines the standards in roofing."

If the Trac Group IPO is fully subscribed, the company will have more than 82 million shares on issue, valuing the company at $20.5 million.


Author: Jenna Rathbone
About: Jenna Rathbone is a Queensland-based journalist who writes on a range of issues including business and property affairs and social issues.
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