ASITE LIMITED

ASITE LIMITED

Previous company name
ASITE PLC
Name change date
5/22/2009
Company Overview
Asite PLC is a holding company whose subsidiaries are engaged in the provision of business to business software solutions and services to the whole of the construction industry. The company also provides support services for its products. The company was incorporated in 1986, and has its headquarters in London, United Kingdom.
Asite PLC’s software systems support and automate a range of business-to-business processes such as projects management, purchasing, supply, inventory, documentation, and communications, creating an extended network that promotes interaction and communication between businesses with a focus on procurement and project management. The company’s products are divided into five categories, namely, enterprise solutions, project management, sourcing solutions, trading solutions, and support services. The company’s enterprise solutions product range helps an organisation improve communication and efficiency by standardising company documentation, referencing and indexing standard product information, and creating, customising and publishing catalogues. The company’s project management solutions product range reduces project risk by enhancing project communication, information sharing and project management. The company’s sourcing solutions product range reduces the time involved in sourcing and dealing with suppliers, from selection to contract negotiation. The company’s trading solutions product range reduces off-contract purchasing, trading administration and errors, enabling the entire contract to managed electronically, from product selection and internal approval to delivery of final invoice. The company’s support services product range provides the consultancy and training back-up to implement its products.
Asite PLC also developed an internet portal, the Asite Hub, that facilitates the exchange of data between buyers and suppliers of goods. This exchange of data can take the form of the exchange of electronic documents such as invoices and purchase orders.
Asite PLC’s clients include Laing O’Rourke, Stanhope, Grosvenor Estates, BAA, and Lansdowne Road Stadium Development Company Limited (Dublin). It has also a software development team in India, where the company carries out its development, system operations, design, testing and support activities.
Business Summary
The principal activity of the Group is to provide business to business solutions and services to the whole of the construction industry.
Description and history
The principal activity of the Group is to provide business to business solutions and services to the whole of the construction industry.

HISTORY:

The Company was incorporated on 25 March 1986 and listed on the Alternative Investment Market of the London Stock Exchange on 12 March 1998.

Asite was founded by the construction industry for the construction industry in February 2000 and has been operational since June 2001. Asite and its backers believe that the efficiency of industry projects is limited by the inefficiency of the industry. Through the introduction of simple tools, that are in the self-interest of industry players to use, Asite plans to change the very culture of the industry. As industry insiders they understand construction process and where and when technology can help.

Asite is the central information and transaction hub for the UK construction industry. Asite offers business solutions to the construction industry in the form of an internet based toolkit consisting of collaboration, purchasing and tendering tools and value-add consultancy services such as training, change management and implementation management.

Asite presents a solution to improving efficiencies, unlocking value, creating information transparency, improving accountabilities and opening up communication channels enabling companies to plan, learn and overall, reduce overheads through more efficient processes and procedures and a more effective use of manpower.

Asite is currently focussed on four key activities:

– Development of the Asite product and services;
– Recruitment of buyers and suppliers;
– Recruitment of large client organisations; and
– Development of partnerships with ancillary market service providers.

Asite’s approach is to prove its concepts in the UK market first and then roll out its offerings across Europe in partnerships with leading owners across the continent.

In December 2001, the Group disposed of its final non-core business, prime Estates and restructured the Board to reflect its focus on the success of Asite.

Cancellation of admission to trading on AIM of the Ordinary Shares, re-registration as a private limited company and capital reorganisation
The Board of Asite announced that it will be seeking shareholder approval to cancel the admission to trading on AIM of the Ordinary Shares (to ‘delist’), to re-register Asite as a private company and to effect a capital reorganisation.

The board of Asite announced that at a general meeting of Asite’s shareholders held on 20 April 2009 all resolutions were passed. The cancellation of admission to trading on AIM of the ordinary shares in Asite will therefore take effect on 28 April 2009.

Business Line
Holding company whose subsidiaries are engaged in the provision of business to business software solutions and services to the whole of the construction industry
Subsidiary
ASITE SOLUTIONS LIMITED
Advisor
DELOITTE LLP
IPO date
3/12/1998
US SIC Code
7379
Company Address
Unit E2 – 3rd Floor, Zetland House
5-25, Scrutton Street
City province or state postal code
EC2A 4HJ, LONDON
Phone: +44 207 749 7880
Fax: +44 207 749 7890
Country address: UNITED KINGDOM
Website url: www.asite.com