Microsoft Word - MEI_2016 02 01_ASX Release_HOA to Acquire People Post_Final.docx
ASX Release
1 February 2016
HEADS OF AGREEMENT TO ACQUIRE PEOPLE POST
Highlights
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People Post referred to as the 'Uber' of couriers and delivery services
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Unique Business to Consumer (B2C), Consumer to Consumer (C2C) and Business to Business (B2B) platform
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Available 24/7 every day of the year including public holidays.
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Newly launched optimized website http://peoplepost.com.au and sender application
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People Post have over 7000 registered runners in most Australian capital cities
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Attractive Bond mechanisms for Sender's peace of mind
People Post Acquisition
Meteoric Resources NL (ASX: MEI) (MEI or the Company) is pleased to announce that it has entered into a binding Heads of Agreement with People Post Pty Ltd (People Post) to acquire all of the issued capital (Sale Shares) in People Post (People Post Acquisition or the Transaction).
The directors of the Company are of the view that the acquisition of People Post will create a significant opportunity for both Meteoric and People Post stakeholders that will allow People Post to further consolidate its first to market advantage and become a major force in the lucrative and disruptive 'Sharing Economy' market.
About People Post
Co-founded by new-age entrepreneur Wayne Wang, People Post has been referred to as the 'Uber' of couriers, using the Share Economy Model and modern proprietary technology to connect businesses and consumers (users) with registered 'Runners' nearby on 24/7 availability. Using the online platform, users can post jobs for same day delivery, track delivery progress and rate runners upon completion.
Our clients include:
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Corporate clients; professional service providers requiring unscheduled and instant deliveries
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Online stores; B2C general, specialised and/or personalised delivery options.
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Individual clients; modernisation of consumer sending habits, allowing flexibility in the sending and receiving of deliveries.
In January 2016, People Post launched their new website http://peoplepost.com.au in conjunction with their new sender application. The newly optimised website allows for businesses to send multiple parcels, amongst other features, and the new sender app provides for a more user friendly booking experience using handheld devices.
Security is top priority
Security is a fundamental aspect to the business model, incorporating robust measures equal and greater than current Sharing Economy peers, including ID verification, social checks, live GPS tracking and runner security bonds. Attractive security bond and insurance mechanisms provide protection and peace of mind to the sender, as well as allowing runners who elect to increase their bond level to advance their profile status and rating. As with other Sharing models, runners understand a pristine profile standing is paramount for them winning jobs.
Highly Scalable Platform
People Post, in its infancy, has grown exponentially, already developing a diverse range of repeat clients, from online stores and law firms to florists and restaurants. The Platform provides an alternative and flexible source of income, attracting university students, parents, professionals on convenient travel routes and members of the casual labour market.
The Sharing Economy Market
The Sharing Economy market is growing substantially, with the Australian market total 'Door to Door' spend AUD$5.3B and 'Point to Point' AUD$1.35B. The European and US market is 10 times and 20 times larger, respectively, than the Australian market.
Pioneering companies AirBnB and Uber have demonstrated strong success via their lucrative and disruptive business models.
Airbnb, a point to point housing solutions, has received funding of circa US$1.5 billion in July 2015, with a current valuation of US$25 billion.1
Uber, a point to point taxi solution, has received funding of circa US$2.1 billion in December 2015, with a current valuation of US$62.5 billion.2
People Post, a point to point delivery solution, aims to disrupt the traditional courier service industry, which has been prohibited by industry rules, pricing and schedules. People Post utilises the idle delivery capacity of both businesses and individuals, providing increased service options and availability and market demand pricing.
1 Kokalitcheva K. Fortune, 20 Nov 2015.
2 Newcomer E. Bloomberg Business, 4 Dec 2015.