SRJ Technologies Group PLC (ASX:SRJ) has been reinstated to the ASX boards following a market and company strategy overhaul and a CHESS Depository Interests (CDI) placement that raised $1.7 million in new capital.
The company – which had been suspended from quotation since November last year – also offered several other securities as part of its relisting prospectus, raising an additional $500,000 and offsetting its debts to Jindabyne Capital Pty Ltd, the placement manager, and its own non-executive directors in lieu of fees.
Refocusing market and company strategy
SRJ Technologies is an asset integrity business offering weldless solutions for permanent and temporary pipe repair or replacement.
With new regulatory pressures around environmental, social and governance (ESG) credentials growing in complexity and scope, SRJ sees an opportunity to secure repeat business and build recurring revenue streams as well as developing new opportunities in the UK, the Middle East, West Africa and Australia.
The company has broken down its revamped strategy into three broad sections: short-term, mid-term and long-term.
Short term:
- SRJ will seek to leverage existing partnerships to develop revenue opportunities.
- Offer a range of safe, reliable technically superior solutions driven by customer demand.
- Expand global client relationships and locations.
- Assist clients in achieving their ESG objectives and commitments.
- Expand consulting activities.
- Leverage support opportunities in the Mitsui asset portfolio.
- Identify strategic acquisitions with synergistic patents or IP.
- Future-proof technology for energy transition opportunities.
- Leverage capital markets to invest in strategic locations and product solutions.
- Capture growth opportunities in the energy transition sector with a focus on major operators.
- Increase integration of solutions through future acquisitions.
- Develop or acquire technologies for system integration.
- Identify technology gaps in clients’ assets and provide solutions to present to the market.
- Assess options for solutions in emissions monitoring, inspections and digital transformation and digitalisation.
- Continuous product design and service innovation led by customer engagement and industry insight.