Pushpay Scheme Implemented

Pushpay Scheme Implemented

Auckland, New Zealand | Redmond, Washington; Colorado Springs, Colorado; Plano, Texas, US – 19 May 2023 (NZT)

Pushpay Holdings Limited (NZSX:PPH, ASX:PPH, ‘Pushpay’ or 'the Company') announces that the scheme of arrangement with Pegasus Bidco Limited (‘Bidder’) has been implemented. Following implementation, the Bidder holds all of the shares in Pushpay.

Payment of Scheme consideration

In accordance with the terms of the Scheme, Pushpay shareholders who were recorded on Pushpay’s share register at the Scheme Record Date, being 7:00 pm (NZT) Friday, 12 May 2023, have today been paid as follows:

1. in respect of Pushpay shares that are 'Specified Shares',[1] held on the Scheme Record Date, NZ$1.34 per Specified Share; and

2. in respect of all other Pushpay shares held on the Scheme Record Date (other than certain excluded shares held by entities associated with BGH Capital and Sixth Street), NZ$1.42 per Pushpay Share.[2]

Delisting of Pushpay

Trading in Pushpay shares on the NZX Main Board and ASX was suspended at the close of trading on 10 May 2023 and Pushpay will cease to be listed by NZX and ASX at the close of trading today.

Cancellation of RSUs

In accordance with the Scheme Implementation Agreement, all outstanding Restricted Share Units have been cancelled and the Pushpay Share Incentive Scheme has been terminated. Following the cancellation, no Restricted Share Units remained on issue.

Change of directors and officers

With effect on and from implementation Graham Shaw, Lorraine Witten, Lovina McMurchy, Sumita Pandit, Christopher Fowler and John Connolly resigned as directors of the Pushpay Group and Pushpay’s Chief Executive, Molly Matthews and Group Financial Controller, Abhishek Lal have been appointed as directors of the Company.

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[1] The Specified Shares are a specified number of shares in respect of which the Specified Shareholders agreed to receive NZ$1.34 per share. The Specified Shareholders are a group of 10 sophisticated, professional offshore event-driven funds.

[2] The Bidder acquired the Pushpay shares held or controlled by entities associated with BGH Capital and Sixth Street under the Scheme.

Contact

Gabrielle Wilson | Investor Relations | Pushpay Holdings Limited
P: +64 21 724 244 | E: [email protected]
www.pushpay.com

About Pushpay

Pushpay provides a donor management system, including donor tools, finance tools and a custom community app, a church management system (ChMS), and video streaming solutions to the faith sector, non-profit organisations and education providers located predominantly in the United States (US) and other jurisdictions. Our leading solutions simplify engagement, payments and administration, enabling our Customers to increase participation and build stronger relationships with their communities.

Church Community Builder and Resi Media LLC (Resi) are subsidiaries of Pushpay Holdings Limited. Church Community Builder provides a Software as a Service (SaaS) church management system that churches use to connect and communicate with their community members, record member service history, track online giving and perform a range of administrative functions. Resi is a high growth SaaS company that provides end-to-end live video streaming solutions enabled by hardware products predominantly to the faith sector, whilst also servicing commercial, non-profit organisations and education providers in the US.

Pushpay is an award-winning company. For more information visit www.pushpay.com/investors/awards.

ENDS

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