Gentrack successfully completes Retail Shortfall Bookbuild

NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES 30 July 2018 Gentrack Group Limited ("Gentrack") (NZX/ASX: GTK) is pleased to advise that it has successfully completed the retail shortfall bookbuild component ("Retail Shortfall Bookbuild") of its underwritten 1 for 5.77 pro-rata accelerated entitlement offer ("Offer") of new fully paid ordinary shares in Gentrack ("New Shares") announced on Wednesday, 4 July 2018. As a result, it has now successfully completed the Offer, raising approximately NZ$90 million. The Retail Shortfall Bookbuild of approximately 2.0 million Entitlements was well supported by institutional shareholders and broker firm clients, achieving a clearing price of NZ$6.84 per share. The clearing price represents a premium of NZ$0.65 per share (10.5%) over the Offer Price of NZ$6.19 and a discount of NZ$0.04 per share to the theoretical ex-rights price of NZ$6.88. Therefore, Eligible Retail Shareholders who elected not to take up their Entitlements in full and Ineligible Retail Shareholders will receive NZ$0.65 for each Entitlement not taken up by them (less any applicable taxes). Amounts paid to Eligible Retail Shareholders who did not take up their Entitlements in full or Ineligible Retail Shareholders which, in either case, have nominated Australian dollar bank accounts will be converted from New Zealand dollars by the Registrar at the prevailing exchange rate for buying Australian dollars using New Zealand dollars at the time of payment. That exchange rate may be different to the exchange rate used to set the Australian dollar Offer Price. The gross proceeds (excluding the premium) raised in the Retail Entitlement Offer and Retail Shortfall Bookbuild is approximately NZ$37.7 million. The ASX settlement date for New Shares issued under the Retail Entitlement Offer and the Retail Shortfall Bookbuild is Wednesday, 1 August 2018. The NZX settlement date for New Shares issued under the Retail Entitlement Offer and Retail Shortfall Bookbuild is Thursday, 2 August 2018. Allotment of New Shares on ASX and NZX is expected to occur on Thursday, 2 August 2018. The Retail Premium will be paid to Eligible Retail Shareholders who elected not to take up their Entitlements in full and Ineligible Retail Shareholders on Thursday, 9 August 2018. Gentrack Chairman, John Clifford, commented, "It is pleasing to see strong participation from both our institutional and retail shareholders in the Offer, as well as strong demand in both the Institutional and Retail Shortfall Bookbuilds that followed, which resulted in those shareholders who did not participate, or were not eligible to participate, being able to realise value for their Entitlements". Gentrack CEO, Ian Black, commented, "The successful completion of the Offer positions the company strongly, with proceeds to be used to pay down bank debt, which will provide balance sheet flexibility to pursue future strategic acquisitions in addition to existing organic growth opportunities". ENDS *********** Contact: Ian Black, CEO Aaron Baker, Marketing and Communications Director +64 9 966 6090 *********** About Gentrack Gentrack provides essential software for essential services, pairing powerful platforms with deep market knowledge to help utilities and airports lower service costs, foster innovation and confidently navigate market reform. It employs over 500 people in offices across New Zealand, Australia, the UK and Europe and services over 200 utility and airport sites in 30+ countries with its leading solutions for utilities - Gentrack Velocity, Junifer and Evolve Analytics, and for airports under the Veovo brand including Airport 20/20, BlipTrack and Concessionaire Analyzer+. Velocity, Junifer and Evolve Analytics are champion billing, customer and revenue protection solutions in the sector, providing a full range of proven capabilities along with hosted and managed services options for new entrant energy and water suppliers, and larger utilities in competitive markets where flexibility, uniqueness and compliance are essential. More information: www.gentrack.com Veovo combines Gentrack's Airport 20/20, BlipTrack and Concessionaire Analyzer+ software to unlock operational, revenue, concession and passenger insights across the airport ecosystem. The Veovo Predictive Collaboration Platform enables airports to operate more efficiently, uncover new growth opportunities and deliver outstanding guest experiences. More information: www.veovo.com End CA:00321450 For:GTK Type:OFFER Time:2018-07-30 15:28:08