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Ebos Group Limited (NZX: EBO) Retail Offer Oversubscribed

Monday 24th January 2022

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EBOS Group Limited (EBOS) is pleased to announce that its non-underwritten NZ$105 million (A$100 million) retail offer (Retail Offer) in connection with the agreement to acquire LifeHealthcare has closed oversubscribed. The Retail Offer was strongly supported by eligible shareholders, with EBOS receiving valid applications totalling approximately NZ$412 million (A$389 million), reflecting the strength of EBOS’ share price following announcement of the LifeHealthcare acquisition on 9 December 2021.

In recognition of the strong support from retail shareholders, EBOS has elected to increase the size of the Retail Offer, setting it at an amount that provides participating retail shareholders with their pro rata allocation (up to the maximum application amount). This will result in EBOS accepting an additional NZ$66 million (A$62 million) of subscriptions, bringing the total amount raised under the Retail Offer to NZ$171 million (A$161 million).

A total of approximately five million new fully paid EBOS ordinary shares will be issued under the Retail Offer at the issue price of NZ$34.50 per share. Scaling and the return of any surplus application amounts have been carried out on a pro rata basis in accordance with the terms of the Retail Offer contained in the Retail Offer Document dated 15 December 2021, with refunds and allotment statements to be sent to participating shareholders on Friday, 28 January 2022.

In accepting oversubscriptions, EBOS had regard to rewarding retail shareholder support and further strengthening the balance sheet to provide additional headroom to continue our growth strategy, whilst preserving EPS accretion from the transaction and an appropriate capital structure.

Under the Retail Offer, each person who was recorded in EBOS’ share register as being a registered holder of EBOS ordinary shares and having an address in New Zealand or Australia as at 7:00pm (NZDT) / 5:00pm (AEDT) on the record date of 8 December 2021 could each subscribe for up to NZ$50,000 / A$47,500 worth of new EBOS shares. 27,752 EBOS eligible shareholders applied under the Retail Offer, with an average application size of approximately NZ$14,870.

The Retail Offer was part of EBOS’ equity raising announced on 9 December 2021, under which EBOS also undertook a fully underwritten approximately NZ$674 million / A$642 million placement of new shares to partly fund the acquisition of LifeHealthcare.

Settlement of the Retail Offer, and allotment of the new shares, will occur today. Trading of new shares issued under the Retail Offer will commence on NZX later today, and on ASX tomorrow, 25 January 2022. New shares issued under the Retail Offer will rank equally with EBOS’ existing ordinary shares.

Please see the links below for details

Retail Offer Oversubcribed

Capital Change Notice - Retail Offer

ASX Appendix 2A - Retail Offer

Source: Ebos Group Limited



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