On behalf of the Board, I am pleased to offer you the opportunity to invest in Way 2 Vat Ltd, an Israeli incorporated company
registered as a foreign company in Australia (Way2Vat or the Company).
The Company is a technology company headquartered in Israel and has developed a cross platform solution, the W2V Platform,
that has the capacity to reclaim many types of Value Added Tax (VAT) (also known as “goods and services tax” in certain jurisdictions)
in many verticals, industries and markets, by leveraging on its artificial intelligence technology, to provide the Company’s clients
with a seamless VAT reclaim service and experience in multiple jurisdictions.
The Company commenced operations in January 2015 and launched the W2V Platform in 2016, with a pilot launch in Israel.
Over the past three years, the Company has expanded the W2V Platform offering internationally into Europe and Australia
(with more than 120 clients) and has entered into various arrangements to integrate the W2V Platform with third party expense
management systems and accounting software vendors.
The Board is pleased with Way2Vat’s achievements to date and considers Way2Vat to be strongly positioned to capture value from
the global VAT reclaim industry and implement its growth strategy and achieve its objectives. Following completion of the Offer,
the Company will seek to (amongst other matters):
1. expand its geographical reach in the enterprise market by growing its sales through its European hub in the United Kingdom
and targeting new clients with multi-million dollar annual revenue or at least 3000 employees and with substantial travel
expenditure (which may result in foreign and/or local VAT reclaims);
2. increase its corporate direct sales by establishing additional sales offices in the European and the Asia Pacific regions;
3. develop a scalable small and medium enterprise (SME) solution which will utilise the W2V Platform and be deployed to facilitate
an SME offering via indirect channels, such as partnership arrangements with expense management systems and accounting
software vendors; and
4. develop a separate solution on the W2V Platform for consumers and tourists.
The Offer will raise minimum of A$12,000,000 and a maximum of A$15,000,000 (before associated costs) via the issue of
between 60,000,000 and 75,000,000 Shares at an issue price of A$0.20 per Share. Unless the Board determines otherwise,
the Offer will close at 5.00pm (AEDT) on 20 March 2020. The Company expects to issue and allot all Shares on 20 March 2020,
and if the Company’s application for listing is accepted by the ASX, it is anticipated that the Company will be listed on the ASX
in on or around 27 March 2020.
This Prospectus contains important information regarding the Offer as well as the financial position, operations, management team
and future plans of Way2Vat. The key risks associated with an investment in the Company are detailed in Section 7, which include
risks in respect to the loss of key client relationships, compliance with laws, regulations and industry compliance standards, failure
to increase reclaim volumes, failure to achieve its growth strategy and failures or disruptions to the W2V Platform, should be
The Company is incorporated under the laws of Israel and there are a number of differences between those laws and the laws of
Australia. Refer to Section 8.1 for further details. I encourage you to read the Prospectus thoroughly and carefully before making
any investment decision and consult with your independent professional adviser in connection with the Offer.
On behalf of the Directors, I invite you to consider this opportunity to invest in the Company and look forward to welcoming you
as a Shareholder.