Tesserent Limited December 2015
Disclaimer Forward-Looking Statements This presentation has been prepared by Tesserent Limited and contains background information about Tesserent Limited current at the date of this presentation. The presentation is in summary form and does not purport to be all-inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinion contained in this presentation. This presentation is for information purposes only. Neither this presentation nor the information in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares. This presentation does not constitute investment advice and has been prepared without taking into account the recipient’s investment objectives, financial circumstances or particular needs and the opinions and r ecommendations in this presentation are not intended to represent recommendations of particular persons. Recipient should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risk, which include (amongst others) the risk of adverse or unanticipated market, financial or political developments. To the fullest extent permitted by law, Tesserent Limited, Novus Capital Limited, Terrain Capital Limited and their officers, employees, agents and advisers do not make any presentation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information, statement, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any error or omissions from this presentation arising out of negligence or otherwise is accepted. This presentation may include forward-looking statements. Forward-looking statements are only predications and are subject to risk, uncertainties and assumptions that are outside the control of Tesserent Limited and Terrain Capital Limited. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautioned not to place reliance on forward-looking statements. Subject to any continuing obligations under the applicable law and ASX Listing Rules, Tesserent Limited, Novus Capital Limited and Terrain Capital Limited do not undertake any obligations to update or revise any information or any of the forward-looking statements in this presentation of any changes in events, conditions or circumstances on which any such forward-looking statement is based. TESSERENT PRESENTATION DECEMBER 2015 2
Overview Tesserent provides Internet security services to help The Offer is being conducted to raise funds to fund increased sales ● ● and marketing activities, support Tesserent’s ongoing research and organisations defend against cybercrime. Tesserent has development programs , expand Tesserent’s IT infrastructure, repay developed a security infrastructure platform, known as the MSSP Platform, which enables delivery of Security-as-a- existing debt finance, pay the costs of the Offer, and provide Service (also known as SECaaS) on a subscription basis to additional working capital. small and large organisations to protect their computer ● As part of the Offer the Substantial Shareholders have provided firm networks. commitment letters to subscribe for Shares under the Offer in the Tesserent directly provides Security-as-a-Service to aggregate amount of $610,855. The Shares issued under the firm ● customers in Australia and internationally, and has also commitment letters will be offset against loans owed by Tesserent to licensed the technology to Channel Partners in Hong Kong, the Substantial Shareholders. South Korea, United Kingdom, and the UAE, who in turn provide Security-as-a-Service to their own customer bases. Tesserent and its Channel Partners provide Security-as-a- ● Service to over 190 organisations and have customers in 11 countries and territories. Customers in Australia include organisations such as BMW, Toyota, Nintendo, The Good Guys, Reece, and Maxitrans. 3 TESSERENT PRESENTATION DECEMBER 2015
Key Offer Statistics Minimum Maximum Subscription Subscription Issue Price $0.20 $0.20 Total Number of Shares offered under the Offer 25m Shares 35m Shares Number of Shares held by Existing Holders 67.5m Shares 67.5m Shares Total number of Shares on issue on Listing 92.5m Shares 102.5m Shares Total cash proceeds from the Offer * $5.0m $7.0m Indicative market capitalisation at the Issue Price $18.5m $20.5m Pro forma net cash (as at 30 June 2015) $5.0m $7.0m * This includes $610,855 of Shares issued under the Firm Commitment Letters, which will be offset against loans owed by Tesserent to the Substantial Shareholders. 4 TESSERENT PRESENTATION DECEMBER 2015
Key Investment Highlights Market Position Scalable technology Tesserent and its Channel Partners provide Security-as-a- The MSSP Platform can be delivered to organisations as a cloud ● ● Service to more than 190 organisations located in 11 service, which makes it highly scalable since cloud computing countries and territories. Australian organisations currently allows a business to easily upscale or downscale its IT serviced by Tesserent include BMW, Toyota, Nintendo, The requirements as and when required. Good Guys, Reece, and Maxitrans. Existing security data supplier relationships Subscription Model ● Tesserent has important global relationships with leading software Tesserent generates recurring revenues as a result of the security data providers including companies like Cisco, Spamhaus, ● sale of Security-as-a-Service under a subscription model. Webroot and SURBL. Scalable sales channel model Highly experienced management team and board ● The MSSP Platform enables Channel Partners to efficiently ● Tesserent has a highly experienced management team and board and cost-effectively deliver their own Security-as-a-Service with global and industry-relevant experience. solutions to their customers. Indirectly this provides Tesserent with the opportunity to generate revenue from a wider range of potential organisations than Tesserent could achieve with its own sales resources. 5 TESSERENT PRESENTATION DECEMBER 2015
Board Paul Brandling Keith Glennan Russell Yardley Steve Bertamini Greg Baxter (NED) (MD) (Chairman) (NED) (NED) Paul is a director of Vocus Greg is currently Global Russell has over 35 years of Keith has been in the IT Steve has extensive finance Communications following entrepreneurial and Head of Digital at Citibank. experience. He is currently industry for over 30 years corporate experience in the the recent merger with Previously Greg was a CEO of Al Rajhi Bank, a and operating in the IT sector. He is a non- Amcom, where he served as Partner and U.K. Board bank with total assets of managed security business executive board member for NED for 2 years. Previously member at Booz & over 70 billion USD. He was since 2002. Keith formulated a number of organisations he was VP and MD of HP Company. Greg is a council Tesserent’s current business formerly CEO of GE including chairman of South Pacific. member of Chatham House, strategy and has been CEO Australia and New Zealand Readify Limited and Folk Pty a leading international affairs since 2012. and CEO of Consumer Ltd. think tank. Banking at Standard Chartered Bank. 6 TESSERENT PRESENTATION DECEMBER 2015
Security incidents Examples Description Up to 100 financial Kaspersky estimated $1 billion USD institutions and banks in stolen ~30 countries US Government, US Office Breach of US government databases of Personal Management and stolen personal information on at least 21.5 million people Ashley Madison Hacking group claims to have stolen data on 30 million people Sony Pictures Compromising personal records of employees EBay Database of 145 million customers Source: PwC “Managing cyber risks in an interconnected world: Key findings from The Global State of compromised the Information Security Survey 2015 ” 7 TESSERENT PRESENTATION DECEMBER 2015
Worldwide SECaaS/MSSP market According to Frost and Sullivan: “ The number of cyber and virtual attacks has continued to increase over the last decade. Both private and government organisations have come under attack, driving information security to become a priority. As a result, many organisations are looking at MSSPs to ensure that their IT systems are secured and resilient against attacks and potential breaches. Awareness regarding the damage that can be caused through a breach in IT security, both through loss of sensitive data and manipulation of systems, is on the rise.” Gartner: Forecast: Information Security, Worldwide, 2013-2019, 3Q15 Update 8 TESSERENT PRESENTATION DECEMBER 2015
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