CVT - Comvita Rights Offer Opens

Thursday 23rd April 2026

Comvita Limited (NZX: CVT ) is pleased to announce that its pro-rata renounceable Rights Offer to raise up to NZ$30 million opens today to Eligible Shareholders.

The Rights Offer is part of the Capital Raise announced on 15 April 2026 to facilitate bank refinancing. The raise is partially underwritten by F&N Ventures Pte. Ltd (F&N)*, a subsidiary of Singapore listed Fraser and Neave, Limited, a leading Southeast Asian consumer group, who will join the Comvita register as a strategic investor**.

Rights Offer details

Eligible Shareholders are invited to subscribe for 1 New Share for every 1.53 existing shares held at 5.00pm NZST on the Record Date of Wednesday 22 April 2026, at an Offer Price of NZ$0.65 per New Share. The Offer Price of NZ$0.65 per New Share represents:

- a 4.4% discount to the last traded price on NZX of NZ$0.68 on Tuesday 14 April 2026 and;

- a 2.7% discount to the Theoretical Ex-Rights Price (TERP) of NZ$0.67***.

The Rights Offer closes at 5.00pm on Thursday 7 May 2026 NZST (unless extended).

Rights will be quoted on the NZX Main Board so Eligible Shareholders may sell all or some of their Rights on the NZX Main Board between Tuesday 21 April and Friday 1 May 2026 if there is a buyer for those Rights. The Rights of all Ineligible Shareholders will be transferred to a nominee who will endeavour to sell those Rights on the NZX Main Board. Any proceeds, less transaction costs of 0.5%, will be paid to those Ineligible Shareholders on a pro rata basis.

Eligible Shareholders who take up their Rights in full have the opportunity to apply for Additional New Shares through the Oversubscription Facility up to a maximum amount of Additional New Shares equal to the greater of 100% of their Rights entitlement or $500,000. Comvita will determine allocations and any necessary scaling of Applications for Additional New Shares under the Oversubscription Facility. Allocations of New Shares under the oversubscription facility are not guaranteed. For further information about the oversubscription facility, see the Offer Document.

Applications by Eligible Shareholders can be made online at www.comvita.rightsoffer.co.nz before the closing date.

Further information

The Offer Document and Investor Presentation are available at www.comvita.rightsoffer.co.nz.

Eligible Shareholders are encouraged to read all materials before making a decision whether to participate and seek financial, investment or other professional advice from a qualified professional adviser.

Capitalised terms used in this announcement are as defined in the Offer Document.

* F&N, when used in this NZX release, refers to Fraser and Neave, Limited, its wholly-owned subsidiary F&N Ventures Pte. Ltd., and/or other subsidiaries which together comprise the F&N Group.

** For more information on F&N, please visit www.fraserandneave.com.

*** TERP is the theoretical price at which Comvita’s shares trade immediately after the ex-date for the Rights Offer. TERP is a theoretical calculation only and the actual price at which Comvita shares trade on NZX immediately after the ex-date for the Rights Offer will depend on many factors and may not be equal to TERP. TERP is calculated by reference to the last traded price of Comvita shares on NZX on Tuesday, 14 April 2026 being the last trading day prior to the announcement of the Rights Offer and includes all New Shares issued under the Rights Offer.

ENDS

Comvita Rights Offer Opens

Comments from our readers

No comments yet