IOOF Holdings Issues Share Purchase Plan (SPP)

IOOF has offered Eligible Shareholders1 an opportunity to acquire additional IOOF shares under a Share Purchase Plan (“SPP”).

The intention to launch the SPP was announced on 17 October 2017, at the same time that IOOF announced it was undertaking an institutional placement to partially fund the acquisition of ANZ’s OnePath Pensions and Investments business and Aligned Dealer Groups business (“Placement”). The Placement was successfully completed and announced on 18 October 2017, raising approximately $461 million.

The SPP aims to raise up to $100 million and is not underwritten. IOOF reserves the right (in its absolute discretion) to scale-back applications if demand exceeds A$100 million or to raise a higher amount.

Eligible Shareholders may purchase up to $15,000 worth of new ordinary shares in IOOF, without incurring brokerage or transaction costs. The issue price of these new shares will be the lesser of $10.60 per new share, being the price at which shares were issued under the Placement and the price that is a 2% discount to the volume weighted average price of ordinary shares in IOOF traded on the ASX over the five trading days up to, and including, the day on which the SPP closes (rounded down to the nearest cent).

The SPP opens today, Wednesday 25 October 2017 and closes at 5.00pm on Tuesday, 14 November 2017. Full details of the SPP are available in the attached SPP Booklet. The SPP Booklet and personalised application forms are being despatched to Eligible Shareholders today by email and post.

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