ikeGPS completes Retail Entitlement Offer

Successful completion of Retail Entitlement Offer ikeGPS Group Limited ('IKE') is pleased to announce the successful completion of the retail component of its fully underwritten 1 for 7 accelerated non-renounceable entitlement offer ('Retail Entitlement Offer'). The Retail Entitlement Offer to eligible retail shareholders closed at 5pm NZT on 11 August 2020 and raised gross proceeds of approximately NZ$4.1 million. The Retail Entitlement Offer closed oversubscribed, receiving strong support from IKE's Eligible Retail Shareholders, with IKE receiving applications, including via the oversubscription facility, of approximately NZ$4.3 million (276,394 shares above the cap). Eligible Retail Shareholders took up 66% of their entitlements, with those who took up their entitlements in full also applying for an additional NZ$1.6 million of new shares. Oversubscriptions will be scaled having reference to the number of IKE shares held by the applicant on the Record Date (30 July 2020). This Retail Entitlement Offer forms the final part of the NZ$19.7 million (A$18.4 million) institutional placement ('Institutional Placement') and accelerated entitlement offer ('Entitlement Offer') first announced on 28 July 2020. The Institutional Placement and the institutional component of the Entitlement Offer has already been successfully completed as announced on 30 July 2020. The new fully paid ordinary shares in IKE ('New Shares') offered under the Retail Entitlement Offer are expected to commence trading on 19 August 2020 on NZX and 20 August 2020 on ASX and will rank equally with existing fully paid ordinary shares. Bell Potter Securities Limited acted as Lead Manager and bookrunner to the Institutional Placement and Entitlement Offer and as the underwriter to the Entitlement Offer. Forsyth Barr Limited acted as New Zealand Lead Manager. ENDS 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. Contact: Glenn Milnes, CEO, +1 720-418-1936, glenn.milnes@ikegps.com End CA:00357968 For:IKE Type:OFFER Time:2020-08-14 09:10:59