Superloop announces underwritten Placement and Share Purchase Plan

Superloop Limited (ASX: SLC) (“Superloop”) is pleased to announce that it has completed a fully underwritten placement of 8.9 million new fully paid ordinary shares to raise $20.0 million of additional capital (“Placement”).

The funds raised from the Placement will be used to provide funding support for further customer-led network expansion, possible strategic acquisitions and balance sheet flexibility for future strategic growth opportunities.

The Placement was offered to institutional and sophisticated investors at $2.25 per share, representing an 11.4% discount to the closing share price on 19 September 2017 ($2.54) and a 10.7% discount to the 5 day volume weighted average price ($2.52).

New shares issued under the Placement will rank equally with existing shares on issue.

The capital raising is within Superloop’s existing placement capacity under ASX Listing Rule 7.1 and accordingly shareholder approval is not required.

Settlement of the Placement is expected to occur on Friday 29 September 2017.


Share Purchase Plan

Superloop will offer existing shareholders an opportunity to acquire additional shares at the same price as the Placement, $2.25 per share, under a Share Purchase Plan (“SPP”).

Under the SPP, eligible shareholders will be invited to subscribe for up to $15,000 additional Superloop shares, up to a maximum of $15.0 million. Participation in the SPP will be open to all holders of Superloop shares with a registered address in Australia or New Zealand at 5.00pm (Sydney time) on Wednesday, 20 September 2017 (“Record Date”).

New shares issued under the SPP will rank equally with existing shares on issue.

Further information on the SPP, including the SPP terms and conditions is outlined in the SPP booklet which will be dispatched to eligible shareholders on or around Wednesday, 27 September 2017. Factors that the Company may take into account in determining any scale-back if required may include compliance with regulatory requirements, the amount applied for by each shareholder under the SPP, the number of Shares held at the Record Date and the number of Shares held at the close of the SPP offer period.

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