Chairman's Address to Shareholders
I am pleased to welcome you to the 2017 Annual General Meeting for Envirosuite Limited.
The last twelve months has been the most transformational in the Group's history since listing. Post the sale of our Pacific Environment consulting business at the end of the 2017 financial year we are now a well funded, pure Saas technology business with a singular focus on our award-winning and world-leading Envirosuite platform.
The sale completes a process conceived several years ago by the current directors to grow the consulting business organically and through acquisitions to develop an attractive asset that could be sold once the Envirosuite platform was able to stand alone and in a position to realise its global potential.
The sale of the Pacific Environment consulting business consumed most of our senior people for the majority of the financial year particularly in the second half as the process moved toward completion. I would like to thank them, together with my fellow directors, management, our advisors, funders and ERM and their advisors who worked tirelessly to complete a highly successful transaction that has set us up to realise the true potential of Envirosuite on a global scale.
I also thank the Pacific Environment team for their efforts over many years and congratulate them on being part of a business that more than quadrupled in value between 2012 and 2017. We look forward to continuing our great relationship with the Pacific Environment team through our partnership with ERM.
Following the sale of the consulting business, we were very pleased to welcome back Mr Peter White as Chief Executive Officer and a Director. Peter's re-entry to the group that he had helped position so well for the transitional events of the 2017 financial year, is perfectly timed - we are now at a point where we can most benefit from his leadership and international technology credentials to guide the company through the most exciting growth phase in its history.
Peter has quickly set the tone for the future through making key sales hires, resetting the businesses finance and administrative processes, working closely with the technology development team and taking on the role of group sales manager to build on the relatively limited sales presence that the business has been operating with to date.
By the end of the December quarter of 2017, we expect to have added a further six experienced, networked and proven SaaS sales professionals thus effectively tripling our senior sales team. With these sales leaders and our impressive line-up of sales partners, we now have a significant sales capability. The newly enlarged team will focus on the existing pipeline of leads, assisting our partners and identifying new opportunities to distribute the platform.
As with all technology platforms, Envirosuite will never stop evolving in order to increase its usefulness and value to our customers. The consistent theme through the positive market feedback we receive from industry, regulators, and respected peers is that we are well advanced on any other environmental monitoring and management platform in the market globally. We are uniquely placed to take advantage of the global trend being set by communities, regulators and industry to adopt the next level environmental management disciplines that Envirosuite has been designed to deliver.
I thank shareholders for their patience as we had to adopt a strong internal focus on the business through a demanding 2017 financial year, however having reached a successful conclusion to that phase of the business we are now able to focus externally, a part of which will be more regular communications. We are updating the market at least quarterly on our progress and more often as materiality requires.
I am really looking forward to the year ahead, we have a very focused and determined team, and I have the utmost confidence in their ability to capitalise on the significant global opportunities that our hard work has identified.
About EnviroSuite Limited
The Envirosuite platform provides a range of environmental monitoring, management and investigative capabilities that are incorporated into a diverse array of operations from wastewater treatment to large scale construction, open cut mines, port operations, environmental regulators and heavy industry uses.
Envirosuite helps industry and government meet the growing demands of communities the world over to achieve optimal community, regulatory and productivity outcomes.