Successful completion of Placement and Institutional Offer

Ryman announces successful completion of Placement and
Institutional Entitlement Offer

Ryman Healthcare Limited (Ryman) (NZX: RYM) advises that it has successfully completed its $313 million underwritten institutional placement (Placement) and the institutional component (Institutional Entitlement Offer) of its approximately $688 million underwritten 1 for 3.05 pro-rata accelerated non-renounceable entitlement offer (Entitlement Offer), as announced on 24 February 2025.

The Placement and Institutional Entitlement Offer closed on Tuesday, 25 February 2025 and raised gross proceeds of approximately $719m million. The offer was well supported with strong demand for the placement and institutional shortfall shares and eligible institutional shareholders electing to take up approximately 77% of their entitlements.

Ryman Chair Dean Hamilton said, “We are pleased with the success of the Placement and Institutional Entitlement Offer, and the strong support shown for Ryman and its capital management reset. We have prioritised existing shareholders in our allocation policy, and we are grateful for their continued support.”

Ryman’s shares will resume normal trading on the NZX today on an ex-entitlement basis. The new fully paid ordinary shares in Ryman (New Shares) offered under the Placement and the Institutional Entitlement Offer are expected to be allotted and commence trading on the NZX on Monday, 3 March 2025 and will rank equally with existing fully paid ordinary shares.

Retail Entitlement Offer
The retail component of the Entitlement Offer (Retail Entitlement Offer) will open at 9.00am (NZDT) on Thursday, 27 February 2025 and close at 5.00pm (NZDT) on Monday, 10 March 2025. The Retail Entitlement Offer is available to eligible retail shareholders at the same offer price as the Institutional Entitlement Offer of $3.05 per New Share. Eligible retail shareholders can apply at ryman.capitalraise.co.nz.
Eligible retail shareholders who have taken up all of their Entitlements in full may apply for additional New Shares, up to a maximum amount of New Shares equal to 75% of their entitlements.
Key dates for the Retail Entitlement Offer are set out below.

Key Offer dates
Placement and Institutional Entitlement Offer
Trading halt lifted
Ryman shares will commence trading on the NZX on an ex-entitlement basis Tuesday, 25 February 2025
Settlement and allotment of New Shares under the Placement and Institutional Entitlement Offer and trading commences on the NZX Monday, 3 March 2025
Retail Entitlement Offer
Record Date 5.00pm (NZDT), Tuesday, 25 February 2025
Retail Entitlement Offer opens 9.00am (NZDT), Thursday, 27 February 2025
Retail Entitlement Offer closes 5.00pm (NZDT), Monday, 10 March 2025
Settlement and allotment of New Shares under the Retail Entitlement Offer and trading commences on the NZX Monday, 17 March 2025

Further information
An offer document and other important information about the Offer is available on the website established for the Retail Entitlement Offer at ryman.capitalraise.co.nz. Eligible retail shareholders are encouraged to visit that website and read all of the materials available or referred to on it (including the offer document, investor presentation and market announcement published by Ryman on 24 February 2025 (together, the Offer Materials) before making a decision whether to apply online from 27 February 2025.
Shareholders who have any questions about the Retail Entitlement Offer are encouraged to seek financial, investment or other professional advice from a qualified professional adviser.
ENDS

Authorised by:

Morgan Powell
General Counsel

About Ryman:
Ryman Healthcare was founded in Christchurch in 1984 and owns and operates 49 retirement villages in New Zealand and Australia. Ryman villages are home to 15,300 residents, and the company employs 7,700 staff.

Contacts:
For investor relations information contact Hayden Strickett, Head of Investor Relations, on +64 27 303 1132 or [email protected]

For media information contact Camille Middleditch on +64 28 422 3472 or [email protected]

Currency:
Unless otherwise stated, all references to “$” are to the New Zealand dollar.

Not an offer of securities in the United States:
This announcement has been prepared for publication in New Zealand and may not be released or distributed in the United States. This announcement does not constitute an offer, invitation or recommendation to subscribe for or purchase any security or financial product and neither this announcement nor anything attached to this announcement shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or the solicitation of an offer to buy, securities in the United States or any other jurisdiction in which such an offer would be illegal. Any securities described in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly, in the United States except in transactions exempt from, or not subject to, the registration requirements of the U.S. Securities Act and the securities laws of any state or other jurisdiction of the United States. The New Shares to be offered and sold in the Retail Entitlement Offer may only be offered and sold outside the United States in “offshore transactions” (as defined in Rule 902(h) under the U.S. Securities Act) in reliance on Regulation S under the U.S. Securities Act.

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Announcement PDF