Plexure Group Limited NZ$32 Million Placement Fully Subscribed

• Plexure (NZX:PLX) closes fully subscribed $32m underwritten placement for new secondary ASX listing.
• Opens share purchase plan to raise $5m for NZ shareholders

Plexure Group Limited (Plexure) announced that it has successfully closed the bookbuild for its approximately NZ$32 million underwritten placement announced on 11 November 2020.

The Placement was strongly supported, attracting bids well in excess of the NZ$32 million placement amount.

The Placement was fully subscribed at the offer price of NZ$1.20 per share. This represents a discount of 23% to the last close of NZ$1.55 and 20% discount to the volume weighted average price for Plexure shares over the preceding 10 business

days of NZ$1.50.

Commenting on the capital raise, Plexure Chair, Phil Norman, said “I am delighted that we have been able to close the Placement quickly and that we had such strong support from Australian and New Zealand institutional, sophisticated and professional investors. The new capital will provide the funding we need to expand international operations, accelerate product development, and further enhance its technology platform. We view the support received from new and existing investors as a clear endorsement of our growth strategy.”

The Placement is conditional on the success of Plexure’s application for an ASX foreign exempt listing as announced on 11 November 2020. If Plexure’s application for an ASX foreign exempt listing is successful, completion of the Placement is expected to occur on or around 24 November 2020. The new shares to be issued under the Placement will rank equally in all respects with Plexure’s existing ordinary shares.

Plexure is also undertaking a NZ$5 million share purchase plan (SPP) to enable NZ shareholders to participate on the same terms as the Placement. The SPP offer opens on 13 November and closes 24 November 2020.

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