RemSense Technologies

RemSense Technologies (ASX:REM)

Offer Price

A$0.020

per share

Offer Size

A$1,653,641

Open Now!
Express Interest
RemSense Technologies

Shortfall

RemSense Technologies (ASX:REM)

REM

Lead Manager

Offer Price

A$0.020

per share

Offer Size

A$1,653,641

Shortfall

RemSense Technologies

Key Offer Details

Any Entitlement not taken up pursuant to the Shortfall Offer 22 November 2023 (Shortfall Securities) remains open for up to three months (11 March 2024) following the Closing Date of the entitlement offer (11 December 2023).

The issue price for each Share to be issued under the Shortfall Offer shall be $0.02 being the price at which Shares have been offered under the Offer. This includes one free attaching option to acquire one share for every two shares issued, exercisable at $0.04 on or before 9 November 2026.

Purpose of the offer

The purpose of the Offer is to raise up to $1,653,641 before costs.

The funds raised from the Offer are intended to be applied in accordance with the notes set out from the entitlement prospectus, November 2023.

Virtualplant

Virtualplant is an asset visualisation platform that empowers you to remotely step into your physical assets, at any time.

​Virtualplant is a high-resolution, visual twin of your assets that can link to existing enterprise management systems as well as corporate and operational technology platforms. Providing visual ways of working in one common platform, being accessible anytime, anywhere, on any device – Virtualplant simplifies collaboration across teams, contractors and partners.​

The Intuitive Visual Ways of Working

Find: Find missing assets via virtualplant through Plate/Tag/Asset ID and assess them against existing asset records to ensure accuracy, or search for specific assets within the plant using spatial data.

Measure: Remotely measure dimensions of objects directly in the workspace to increase planning efficiency.

Identify/ Resolve: Digitalise your workflow, gather data, identify issues and plan remediation operations with actionable insights.

Monitor: Connect seamlessly with existing asset records and IoT devices to monitor asset performance in real time.

Train: Give an interactive tour to your team or contractors. Reduce travel to site to support compliance and optimise activity preparation time.

Navigate: Navigate your digital environment effortlessly, zooming in and out to accurately assess site conditions.

Industries

Oil & Gas

RemSense's Virtualplant transforms the oil and gas industry by:

  1. Reducing Site Visits: Creating a digital reality of facilities for remote monitoring, analysis, and maintenance, minimising the need for physical inspections and travel.
  2. Driving Innovation: Fostering collaboration, enabling visual-driven decision-making, and revolutionising industry practices with advanced twin technology.
  3. Combatting Scope 3 Emissions: Streamlining operations, reducing travel, and contributing to a greener future by minimising the carbon footprint in the oil and gas industry.
  4. Reducing Turnaround Maintenance Time: Providing maintenance contractors with accurate work packs and using high-resolution imagery to evaluate assets, materials, tools, and safe access.
  5. Avoiding Hours of Training: Serving as a visual twin for remote facilities, simplifying training for contractors and employees, facilitating pre-start meetings, and ensuring a user-friendly experience.
  6. Maintaining High Safety Standards: Using high-resolution images to assess the actual condition of areas, allowing teams to proactively identify hazards and risks before going onsite.
Natural Resources:

RemSense's Virtualplant transforms the mining operation industry by:

  1. Driving Digital Innovation: Transitioning from paper-based records to an intuitive digital platform enhanced by AI, minimising discrepancies in record-keeping and reducing human errors.
  2. Reducing CO2 Emissions: Eliminating on-site visits through remote collaboration, Virtualplant streamlines operations and significantly cuts a company's carbon footprint. This innovative technology saves time and resources, contributing to a sustainable future.
  3. Performing Remote Surveying: Reality capture with 6k images generates an exact twin of sites and facilities. Virtualplant enables surveying and planning without human presence near heavy machinery, hazardous areas, or the need for extensive travel.
  4. Reducing Maintenance Hours: Working within a digital reality allows contractors and teams to schedule optimal shutdowns and maintenance campaigns, avoiding surprises caused by inaccurate drawings.
  5. Increasing Staff Safety: Serving as a valuable training tool, Virtualplant allows employees and contractors to familiarise themselves with the site, machinery, and safety protocols without physical presence on-site. It minimises staff exposure to hazardous materials through remote surveying and inspection.
  6. Being There Without Going There: Utilising high-resolution images (6k) instead of rendered models, Virtualplant enables teams to spot defects and capture asset details as if they were physically on-site. This proactive approach allows for planning and issue resolution before visiting the actual site.

Risk Factors

Investors should be aware that subscribing for Securities involves a number of risks and an investment in the Company should be considered as highly speculative. The future performance of the Company and the value of the Securities may be influenced by a range of factors, many of which are largely beyond the control of the Company and the Directors. The key risk factors associated with the Company's business, the industry in which it operates and general risks applicable to all investments in listed securities and financial markets are set out in Section 5 of the prospectus attached below.

Board & Management

Warren Cook

Warren Cook

Chief Executive Officer

Warren is RemSense's new CEO, he brings with him a wealth of experience and expertise in the development and sale of software solutions for the natural resources industries.

Chris Sutherland

Chris Sutherland

Non-Executive Chairman

Chris is an experienced executive who has held senior management positions in various engineering, maintenance and contracting businesses with operations in Australia, Asia, Europe and the USA.

Chris was appointed Managing Director and Group CEO of Programmed from January 2008 until his retirement in September 2019.

Sue Murphy

Sue Murphy

Non-Executive Director

Sue is a prominent engineer and company director with over 40 years of experience in resources and infrastructure. She lead the Water Corporation as chief executive for a decade. Before that, she had a 25-year career with the Clough Group.  Recognised as one of the top engineers in Australia, in 2019 she was appointed an Officer of the Order of Australia for her distinguished service to the natural resources sector and engineering.

Ross Taylor

Ross Taylor

Non-Executive Director

Ross is a Chartered Accountant and an investment banking consultant with a thorough knowledge of international financial markets gained while working in Australia, London, New York and Tokyo.  He has extensive experience in the global investment banking sector and has held senior positions with Deutsche Bank, Bankers Trust and Barclays Capital.

Disclaimer

This site does not constitute an offer, recommendation or invitation to any person, nor does it purport to provide all of the information an interested party may require in order to investigate the affairs of RemSense Technologies Limited. This site is provided for information only and has not been prepared with the intention that the recipient should rely on it. Liquidity Technology Pty Ltd ("Liquidity") does not make any representation in relation to the contents of this site or give any assurances as to the accuracy or the degree of care or diligence used in preparing this document. The information, data and advice herein is provided to recipients on the clear understanding that Liquidity nor any of its representatives, directors, officers, employees, agents or advisers  makes any representation or warranty about its accuracy, reliability, completeness or suitability for any particular purpose and does not accept liability (including, but not limited to, for any expenses, losses, damages and/or costs (including, but not limited to, indirect or consequential damage)) nor take any responsibility of any kind whatsoever (including, but not limited to, whether in contract, tort, financial or otherwise) for the information, data or advice contained or for any omission or for any other information, statement or representation provided to any recipient (including, but not limited to, as a result of information, data or advice being inaccurate, unreliable, incomplete or unsuitable in any way and for any reason whatsoever). Users of this site must conduct their own investigation and analysis regarding any information, statement or representation contained or provided to any recipient or its associates by Liquidity or any of the Liquidity Personnel. Each recipient waives any right of action, which it has now or in the future against Liquidity or any of the Liquidity Personnel in respect of any errors or omissions on or from this site, however caused. All rights are reserved. If the whole or any part of a provision of this “Notice and Disclaimer” is invalid, illegal or unenforceable, then such provision will be severed and neither that part or provision or its severance will affect the validity or enforceability of the remaining parts or provisions.

RemSense Technologies

Shortfall

RemSense Technologies (ASX:REM)

REM

Offer Price

A$0.020

per share

Offer Size

A$1,653,641

Cancel

I am a sophisticated 708 investor and agree to the terms and conditions

RemSense Technologies

Follow RemSense Technologies

By submitting your information below you can keep up to date with their relevant news and announcements.

Fields marked with * are required.

Name(Required)

Cancel

RemSense Technologies

Submit your details below to get access to the product documents and invest.

Cancel