QEX announces $3 million Share Purchase Plan

Market Release 4 May 2020 QEX announces the opening of a $3 million Share Purchase Plan QEX Logistics Limited (NZX:QEX) is pleased to announce the opening of a $3 million share purchase plan ("SPP") today. Eligible New Zealand shareholders and Wholesale investors in Australia will receive their personalised application forms to apply for up to a maximum of NZ$50,000 of new shares per shareholder, at $0.60 per share. The issue price comprises a 25.3% discount on the 10-day volume weighted average price (VWAP) of QEX shares traded on the NZX during the last ten trading days prior to the date of this announcement. The Board may resolve to accept oversubscriptions for a further $1 million of Shares. The SPP Offer Document will be sent to eligible shareholders today and can be found online at www.qexshareoffer.co.nz. The funds raised from the SPP will be applied towards: o Supporting Australian and Chinese business growth and expansion; o Developing new logistics opportunities in other countries; o Diversifying QEX's product and services range; o Acquisition opportunities; and o Additional working capital. The key dates for the SPP offer are as follows: Key Dates Record Date: Friday, 1 May 2020 SPP Offer Opens: Monday, 4 May 2020 SPP Offer Closes: Friday, 15 May 2020 Allotment of Shares: Friday, 22 May 2020 Commencement of trading of shares on NZX: Friday, 22 May 2020 A copy of the Corporate Action Notice, the Cleansing Notice, the Offer Document and Application Form, and an Investor Presentation accompany this announcement. Ends For investor relations queries please contact: Ronnie Xue Chief Executive Officer Tel: 021 777 911 Email: ronnie.x@qexpress.co.nz End CA:00352507 For:QEX Type:OFFER Time:2020-05-04 08:31:01