AFT announces opening of Share Purchase Plan

Not for release to US wire services or distribution to the US Market and Media release 15th June 2020 AFT Pharmaceuticals announces opening of Share Purchase Plan AFT Pharmaceuticals Limited (NZX:AFT/ASX:AFP) (AFT) is pleased to announce the opening of its NZ$2 million non-underwritten share purchase plan (SPP). The SPP is part of AFT Pharmaceuticals' capital raising announced on 10 June 2020, whereby AFT also undertook a fully underwritten NZ$10 million placement of new shares to select investors in both local and offshore markets and certain major shareholders sold down NZ$63.8 million of existing shares (together, the Placement). AFT announced the successful completion of the Placement on 11 June 2020, which was strongly supported and fully subscribed at a price of NZ$3.75 per share. The SPP is open to AFT shareholders who were recorded as having a registered address in New Zealand or Australia on AFT's register as at 7.00pm (NZ time) / 5.00pm (Sydney time) on 9 June 2020 (Eligible Shareholders). Eligible Shareholders will receive their application forms to apply for up to a maximum of NZ$50,000 / A$47,000 of new shares per shareholder. The price of these shares will be NZ$3.75, being the same as the Placement share price. If scaling of the SPP is required, it will be done having regard to existing shareholder holdings at the record date (being 9 June 2020), and otherwise at AFT Pharmaceuticals' discretion. The SPP is subject to the terms and conditions included in the SPP offer document being sent to Eligible Shareholders today. Eligible Shareholders are encouraged to read the SPP offer document carefully, and if in any doubt about whether or not to apply for shares under the SPP, to consult with a financial or other professional adviser. The SPP offer document is accompanied by a hard copy Application Form, however we strongly encourage Eligible Shareholders to apply online at AFT@computershare.co.nz. The new shares will rank equally in all respects with AFT's existing ordinary shares on allotment. Key dates relating to the SPP are set out in the Appendix to this announcement. A copy of the SPP offer document accompanies this announcement. Further information Shareholders with questions in relation to how to participate in the SPP may contact AFT's registrar Computershare Investor Services Limited, at any time from 8:30am to 5:00pm (NZST) Monday to Friday prior to the Closing Date at +64 800 650 034. We strongly encourage shareholders to seek financial, investment and other professional advice from a qualified professional adviser. - Released for and on behalf of AFT Pharmaceuticals Limited by Chief Financial Officer Malcolm Tubby For more information Investors Media Dr Hartley Atkinson Richard Inder Managing Director The Project AFT Pharmaceuticals +64 21 645 643 Tel: +64 9 488 0232 Appendix - Key Dates for the SPP Record Date for SPP 7pm NZT, Tuesday 9th June 2020 SPP offer opens and SPP offer booklet is dispatched Monday 15th June 2020 SPP offer closes Friday 26th June 2020 SPP results announcement Wednesday 1st July 2020 Allotment of shares Thursday 2nd July 2020 Commencement of trading of the new shares on NZX Thursday 2nd July 2020 Commencement of trading of the new shares on ASX Friday 3rd July 2020 About AFT Pharmaceuticals AFT is a growing multinational pharmaceutical company that develops, markets and distributes a broad portfolio of pharmaceutical products across a wide range of therapeutic categories which are distributed across all major pharmaceutical distribution channels: over the counter (OTC), prescription and hospital. Our product portfolio comprises both proprietary and in-licensed products, and includes patented, branded and generic drugs. Our business model is to develop and in-license products for sale by our own dedicated sales teams in our home markets of Australia and New Zealand and in certain Southeast Asian markets, and to out-license our products to local licensees and distributors to the rest of the world. Not for release or distribution in the United States This announcement has been prepared for publication in New Zealand and Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer of securities for sale in the United States or any other jurisdiction. Any securities described in this announcement may not be offered or sold in the United States absent registration under the US Securities Act of 1933 or an exemption from registration. End CA:00354671 For:AFT Type:OFFER Time:2020-06-15 13:38:43