Radius Care Announces Opening of Retail Offer

NZX RELEASE NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES 26 July 2021 Radius Care Announces Opening of Retail Offer Radius Residential Care Limited (NZX: RAD) (Radius Care) is pleased to announce the opening today of its non-underwritten retail offer of up to $5 million (Retail Offer), with the ability to accept oversubscriptions of up to $5 million at Radius Care's discretion. The Retail Offer is part of Radius Care's $50 million equity raising announced on 8 July 2021, pursuant to which Radius Care also undertook a $30 million placement of new shares to institutional shareholders, high net worth investors and retail investors (Placement) and will issue $10 million of new shares to Ohaupo Holdings Limited (or its the nominees), being the vendor of the land and buildings of four strategically important aged care facilities operated (but not owned) by Radius Care as part consideration for the purchase price for such land and buildings. Radius Care announced the successful completion of the Placement on 9 July 2021. The Placement was fully subscribed at the price determined in the bookbuild for the Placement of $0.52 per share, which represented a discount of 42.0% to the 5-day VWAP of $0.8969 (up to and including 7 July 2021) and a discount to the theoretical post raise price of $0.7660 of 32.1% based on the close price of $0.90 on Wednesday, 7 July 2021 and the Placement price of $0.52 (and assuming a raise of $50 million). Settlement, allotment and the commencement of trading of new shares issued under the Placement is expected to occur tomorrow (27 July 2021) and on 3 August 2021 (with each investor that has been allocated shares under the Placement having elected one of those settlement dates). Under the Retail Offer, each person who was recorded in Radius Care's share register as being a registered holder of Shares as at 5:00pm (NZ time) on the record date of 20 July 2021 and having a registered address in: o New Zealand; or o Australia and who Radius Care considers is a sophisticated investor or a professional investor under Australian law, can subscribe for new ordinary shares in Radius Care (Shares). There is no limit on the number of Shares that eligible shareholders can apply for in the up to $10 million Retail Offer, however they would be subject to scaling at an aggregate level. The offer price of the Shares is $0.52, being the same price for each component of the equity raise as determined by the Placement price. The new Shares to be issued under the Retail Offer will, from issue, rank equally in all respects with Radius Care's existing ordinary shares. The Retail Offer has been designed so that eligible shareholders have the ability to not only preserve, but also potentially increase, their current relative shareholding if they choose to participate. If scaling of the Retail Offer is required, any such scaling will: o first be on a proportionate basis to a level that allows all eligible shareholders to maintain their proportionate shareholding in Radius Care as at 5.00pm on 20 July 2021. For this purpose, any eligible shareholder participating in the Retail Offer who is also a limited partner of either Knox Fund IV NZD LP or Knox Fund IV AUD LP will be deemed to hold, in addition to their own shareholding, such proportion of the shares held by that Knox Fund at 5.00pm on 20 July 2021 as is equivalent to the proportion that that eligible shareholder's limited partner interest in that Knox Fund represents of the total limited partner interests in that Knox Fund of all eligible shareholders participating in the Retail Offer; and o thereafter, be at the discretion of Radius Care, having regard to the amount the relevant eligible shareholder's application represents of the total application amounts received under the Retail Offer. A Retail Offer Document is now available to eligible New Zealand shareholders at www.shareoffer.co.nz/radiuscare. All eligible shareholders are encouraged to visit this website and apply online before the closing date at 5.00pm (NZ time) on Monday, 9 August 2021. A copy of the Retail Offer Document also accompanies this announcement. Key dates relating to the Retail Offer are set out in the Appendix of the attached announcement. ENDS Contacts: Stuart Bilbrough Chief Executive Officer Phone: +64 21 252 5778 Email: Stuart.Bilbrough@radiuscare.co.nz About Radius Care Radius Care was founded in 2003 and operates in the New Zealand aged care and retirement village sectors. It is a nationwide provider offering the full range of accommodation and care options giving residents the ability to "age in place". Today, Radius Care operates 22 aged care facilities, of which it owns three and leases 19. It also owns and operates two retirement villages and an online shop for specialist assisted-living products. The company employs over 1,500 people, including highly qualified healthcare staff who are committed to providing the very best in nursing care. For more information visit radiuscare.co.nz or check our Facebook page @RadiusCareNZ End CA:00376142 For:RAD Type:OFFER Time:2021-07-26 08:30:10