Safety software firm seeks $10M

By Phil Boeyen, ShareChat Business News Editor

Friday 8th March 2002

Hamilton software company Intaz Limited has announced plans to raise $10 million and seek a listing on the unlisted market.

The company describes itself as health and safety solutions company with a number of software products that it plans to distribute globally. Its major focus is enterprise-based health and safety software targeted at both large and small commercial organisations.

Chairman Mark Taylor says Intaz has already attracted a number of major investors in its software development phase and the $10M offering would allow it to establish a commercial structure for selling its software products into the New Zealand, Australian and UK markets.

"These three markets all have two things in common as far as our key software product is concerned: they have very similar legislative regimes for health and safety in the workplace, and they all share a growing level of compliance and government focus on reducing industry accident rates which, not unhappily, becomes a key driver for our business."

The major investor in Intaz is Intaz Holdings Limited, the vehicle for a group of investors led by private equity company Quay Capital Partners, an affiliate of investment banker Cameron & Company.

Other investors include Tower Ltd, the Savage Family, the Quaystone Fund and former Lion Nathan director Mike Smith.

Intaz says it already has a number of customers utilising their software including Woolworths (NZ) and energy company Powerco.

Mr Taylor says the prospectus will be available from next week with the issue opening on March 11 and closing on March 26. Investment bankers and advisors to the issue are Cameron & Company and Forsyth Barr, which is also the broker.

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