Gold Coast Inventor’s Dream Product Attracts Funding From International Investors

Mr Perkins dreamt about roofs being blown off houses, came up with an innovative idea and, when he woke the next morning, raced off to patent it. His innovative idea, born out of that dream about a wild storm, was a revolutionary rooftile designed to withstand cyclonic winds of more than 300km/h.

Mr Perkins launched Trac Group and invested $3 million over eight years to research, test and develop his ideas into award-winning roofing products. His Southport-based Trac Group Holdings has now completed an oversubscribed $765,000 capital raising and plans to list on the stock exchange later this year.

Trac Group sought to raise up to $700,000 through the issue of five million shares at 14¢ a share to fund listing and ongoing operational costs. Mr Perkins said the capital, raised through 18 new investors, was sourced from as far afield as the US, Netherlands and Singapore.

“The investors included people in the oil and gas industry who are looking to hedge against their existing businesses,” he said. “We also received substantial interest from Australians involved in professional services.” Trac Group now has more than 50 million shares on issue. Mr Perkins, who said he persevered with his invention because he had “a gut feeling” it would work, previously said the company went the IPO route because of a lack of venture capital available to companies which had passed the angel-investment phase…Click Here to see full article

Article written by Jenny Rogers – GOLD COAST BULLETIN- MAY 23, 2015