IKE completes A$18 million placement

IKE Successfully Completes A$18 Million Fully Underwritten Placement
Key Highlights
• ikeGPS Group Limited (IKE / ikeGPS) (NZX/ASX: IKE) is pleased to announce the successful completion of its approximately A$18.0 million (approximately NZ$19.6 million) fully underwritten placement of new ordinary shares to sophisticated, professional and institutional investors that was announced on Thursday 10 July 2025 (Placement).
• Pleasingly, the Placement was well supported with strong over-demand from existing investors as well as multiple new long only ASX institutional investors.
• IKE will offer eligible existing shareholders the opportunity to participate in a non-underwritten share purchase plan to raise up to A$2.0 million (approximately NZ$2.2 million) (SPP, and together with the Placement, the Equity Raising).
• Proceeds from the Equity Raising will be used to fund new product development to maintain and extend IKE’s market leadership, accelerate sales and marketing efforts, and provide balance sheet flexibility to execute on potential strategic bolt-on acquisition opportunities and general working capital.
• IKE will develop two important new next-generation subscription product modules in collaboration with its extended customer-council, which are intended to extend IKE’s value in how utilities and communications companies capture, digitize, and manage their distribution networks.

Commenting on the successful Placement, IKE’s Chief Executive Officer & Managing Director, Glenn Milnes said:

“We are extremely pleased by the level of support we have received from our existing shareholders as well as new institutional funds. This support places us in a strong position to execute on our accelerated growth plans, as detailed in our Investor Presentation provided to the NZX and ASX on 10 July 2025.”

Settlement of Placement Shares

Settlement of new shares issued under the Placement is expected to occur on Monday, 21 July 2025, with allotment and commencement of trading of the new shares expected to occur on Tuesday, 22 July 2025. The new shares will rank equally with existing fully paid ordinary IKE shares from the date of issue.

New shares under the Placement will be issued at a price per share of A$0.81 (NZ$0.88) (Offer Price).

The Placement is fully underwritten by Shaw and Partners Limited and Unified Capital Partners Pty Ltd who are acting as Joint Underwriters, Joint Lead Managers and Joint Bookrunners to the Placement. Chapman Tripp are acting as legal counsel to IKE in connection with the Equity Raising.

Details of Share Purchase Plan

Following the completion of the Placement, IKE will offer eligible existing shareholders the opportunity to participate in a non-underwritten SPP to raise up to A$2.0 million (approximately NZ$2.2 million). Under the SPP, eligible IKE shareholders, being shareholders who have a registered address in Australia and New Zealand on IKE’s register at 7.00pm AEST / 9.00pm NZST on Wednesday, 9 July 2025, will have the opportunity to apply for up to a maximum of A$30,000 or NZ$32,500, respectively, of new shares free of any brokerage, commission, and transaction costs. New shares to be issued under the SPP will be issued at the Offer Price.

New shares to be issued under the SPP will rank equally with existing IKE shares on issue and will be quoted on the NZX and ASX from the date of SPP allotment. If the SPP is oversubscribed, IKE may scale back applications at its discretion, by reference only to the number of fully paid ordinary shares held by eligible shareholders accepting the SPP at 7.00pm AEST / 9.00pm NZST on Wednesday, 9 July 2025.

The Directors of the Company who are Eligible Shareholders intend to apply to fully participate in the SPP.

Further details of the SPP will be set out in the SPP offer booklet, which will be released to the NZX and ASX on Wednesday, 16 July 2025. The closing date for applications by eligible shareholders is 7 August 2025.

Further Information

Further details of the Equity Raising are set out in the Investor Presentation provided to the NZX and ASX on 10 July 2025. The Investor Presentation contains important information including key risks and international offer restrictions with respect to the Placement.

This announcement was authorised for lodgement with NZX and ASX by the IKE board of directors.

Contact
For further information, please contact:

Glenn Milnes
CEO & Managing Director
+1 720-418-1936
[email protected]

Simon Hinsley
Investor Relations
+61-401-809-653
[email protected]

About IKE

We’re IKE, the PoleOS Company. IKE seeks to be the standard for collecting, analysing and managing pole and overhead asset information for electric utilities, communications companies, and their engineering service providers. The IKE platform allows electric utilities, communications companies, and their engineering service providers to increase speed, quality, and safety for the construction and maintenance of distribution assets. The revenue engine for IKE is driven by both the number of users within enterprise customers subscribing to the IKE platform and the volume of assets (called Transactions) being processed through IKE software.

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 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 in which such an offer would be illegal. The securities referred to in this release have not been, and will not be, registered under the US Securities Act of 1933 as amended (the US 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 or to persons 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 securities laws of any state or other jurisdiction of the United States. The securities to be offered and sold in the SPP may only be offered and sold outside the United States in “offshore transactions” (as defined in Rule 902(h) under the US Securities Act) in reliance on Regulation
S under the US Securities Act.

You must not send copies of this announcement or any other material relating to the SPP to any person in the United States or elsewhere outside Australia and New Zealand. The release, publication or distribution of this announcement (including an electronic copy) outside New Zealand or Australia may be restricted by law. If you come into possession of this announcement, you should observe such restrictions. Any non-compliance with these restrictions may contravene applicable securities laws.

Important notice

This market release does not constitute investment or financial product advice, nor is it a recommendation to acquire shares in IKE. It is not intended to be used as the basis for making a financial decision, nor is it intended to constitute legal, tax, accounting or other advice. You should make your own enquiries and investigations regarding any investment, and should seek your own professional advice on the legal, financial, accounting, taxation and other consequences of investing in IKE.

This market release is not a prospectus, product disclosure statement or any other disclosure or offering document under New Zealand and Australian law (and has not been, and will not be, lodged with the Australian Securities and Investments Commission) or any other law. This market release is for information purposes only and is not an invitation or offer of securities for subscription, purchase or sale in any jurisdiction and neither this market release nor anything in it shall form any part of any contract for the acquisition of IKE shares.

Disclaimer
To the maximum extent permitted by law, each of IKE, the Joint Lead Managers and their respective affiliates, related bodies corporate, directors, officers, partners, employees, agents and advisers (Joint Lead Manager Parties) disclaim all liability and responsibility (whether in tort (including negligence) or otherwise) for any direct or indirect loss or damage which may be suffered by any person through use of or reliance on anything contained in, or omitted from, this announcement. None of the Joint Lead Manager Parties have authorised, permitted or caused the issue, submission, dispatch or provision of this announcement and none of them makes or purports to make any statement in this announcement and there is no statement in this announcement which is based on any statement by any of them (except the Joint Lead Managers' names). The Joint Lead Manager Parties make no representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of information in this announcement and, with regard to the Joint Lead Manager Parties take no responsibility for any part of this announcement, the placement or the SPP. The Joint Lead Manager Parties make no recommendations as to whether you or your related parties should participate in the Placement or SPP nor do they make any representations or warranties to you concerning the Placement or SPP, and you represent, warrant and agree that you have not relied on any statements made by the Joint Lead Manager Parties in relation to the Placement and SPP and you further expressly disclaim that you are in a fiduciary relationship with any of them. Statements made in this announcement are made only as at the date of this announcement. The information in this announcement remains subject to change without notice. Determination of eligibility of investors for the purposes of the SPP is determined by reference to a number of matters, including legal regimes and the discretion of the Joint Lead Managers and IKE. IKE and the Joint Lead Managers disclaim all liability in respect of the exercise of that discretion to the maximum extent permitted by law.

---

Announcement PDF