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Plexure Group Limited (NZX: PX1) Undertakes Cap Raising to Fund Acquisition of TASK

Wednesday 1st September 2021

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Further to the announcement on 16 August 2021 of the proposed acquisition of TASK, Plexure Group Limited, a leading international specialist mobile engagement platform provider, announces that it is raising A$20.0 million (NZ$20.8 million) through a conditional placement, consisting of a fully underwritten A$15.0 million (NZ$15.6 million) placement to institutional, sophisticated and professional investors in Australia and New Zealand (Institutional Placement) and a placement of up to NZ$5.2 million (A$5.0 million) to existing New Zealand shareholders of Plexure who do not participate in the Institutional Placement (Shareholder Offer), at the same price as the Institutional Placement (together, the Capital Raising).

Funds raised through the Capital Raising will be used to partially fund the Company’s acquisition of leading Australian transaction platform provider Task Retail Pty Limited and its global subsidiaries (TASK), as previously announced. The Company does not have capacity under the placement threshold in the NZX Listing Rules to undertake the Capital Raising without shareholder approval as it undertook a placement and share purchase plan in late 2020. Accordingly, the Company will be seeking shareholder approval for the Capital Raising at the same time that it seeks shareholder approval for the acquisition of TASK.

Please see the links below for details

Market Announcement - Plexure Capital Raising

Plexure Capital Raise Presentation 1 September 2021

Plexure Cleansing Notice 1 September 2021

Source: Plexure Group Limited



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