Kathmandu Holdings Announces Completion of Placement Bookbuild

Kathmandu Holdings Limited (ASX:KMD, NZX:KMD) (“Kathmandu” or the “Company”) announced the successful completion of an underwritten institutional share placement (the “Placement”) of approximately 18.5 million new fully paid ordinary shares to raise NZ$40 million. The issue price of NZ$2.16 represents a 10.0 percent discount to the closing price on the NZX of NZ$2.40 on 19 March 2018.

The Placement was undertaken to partially fund the acquisition of Obōz Footwear, LLC (“Oboz”) for a base cash consideration of US$60 million and earn-out consideration of US$15 million.

Commenting on the Placement, Kathmandu CEO Xavier Simonet said: “The Placement was oversubscribed and very well supported by our existing institutional shareholders, with strong demand also coming from new institutional shareholders. We look forward to completing the Share Purchase Plan component of the offer, which opens on Monday, 26 March 2018.”

“The acquisition of Oboz represents a unique and exciting opportunity to expand our presence in the key North American outdoor wholesale market. We are pleased to see such strong support from our shareholders, which is an endorsement of our strategy to accelerate Kathmandu’s international growth.”

Settlement of the Placement is scheduled to occur on Friday, 23 March and Monday, 26 March 2018 for the ASX and NZX respectively, with allotment of all shares on Monday, 26 March 2018. The new shares issued under the placement will rank equally with existing Kathmandu fully paid ordinary shares on issue.


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