Retail Offer Oversubscribed

24 January 2022

NZX / ASX Code: EBO

RETAIL OFFER OVERSUBSCRIBED

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.

This release was authorised for lodgement with NZX and ASX by the Chief Executive Officer.

*Reflecting an AUD NZD exchange rate of 1.0595 as reported by the Reserve Bank of Australia as at 4pm AEDT, 17 January 2022 (being the Retail Offer close date).
** Pro rata allocation based on the announced offer size comprising a NZ$674 million (A$642 million) placement and NZ$105 million (A$100 million) Retail Offer, representing the same offer size that was used to calculate pro rata for shareholders who participated in the placement.
*** Or the amount applied for if an eligible shareholder applied for a lower amount.
****Or A$32.56 for ASX Retail Offer applicants. The Issue Price was announced on 18 January 2022.
*****Includes applications from underlying holders of custodians.


For further information, please contact:
Investor Relations:
Martin Krauskopf
General Manager, M&A and Investor Relations
EBOS Group
[email protected]
+61 3 9918 5555

Media:
New Zealand:
Geoff Senescall
Senescall Akers
+64 21 481 234

Australia:
Patrick Rasmussen
PRX
+61 430 159 690

ABOUT EBOS GROUP
EBOS Group Limited NZBN 9429031998840 (NZX/ASX Code: EBO) is the largest and most diversified Australasian marketer, wholesaler and distributor of healthcare, medical and pharmaceutical products. It is also a leading Australasian animal care brand owner, product marketer and distributor.

NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES
This market release has been prepared for publication in Australia and New Zealand and may not be released to US wires services or distributed in the United States. This market release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States or any other jurisdiction. The securities referred to in this release have not been, and will not be, registered under the US Securities Act of 1933 or the securities laws of any state or other jurisdiction of the United States and, as a result, the securities may not be offered, sold or resold, directly or indirectly, in the United States or to persons acting for the account or benefit of a person in the United States (to the extent such persons hold EBOS shares and are acting for the account or benefit of a person in the United States) except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and the applicable securities laws of any state or other jurisdiction of the United States.

You must not send copies of this announcement or any other material relating to the Retail Offer to any person in the United States or elsewhere outside Australia and New Zealand.

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