EROAD LIMITED SUCCESSFULLY COMPLETES EQUITY RAISING

eroad.co.nz

NZX Release

EROAD LIMITED SUCCESSFULLY COMPLETES EQUITY RAISING

13 December 2017

EROAD Limited (NZX: ERD) (EROAD) is pleased to announce it has successfully raised approximately
NZ$15.5 million through its placement announced on 12 December 2017 at a price of NZ$3.04 per
share, a 4.7% discount to EROAD’s 5 day VWAP. The increase in the size of the placement reflects
the strong support from a number of new and existing investors.
As part of the placement, NMC Trustees Limited as trustee of the NMC Investment Trust (NMC
Trustees), EROAD’s largest shareholder, also successfully offered NZ$5 million of its shares for sale
through the placement.
Steven Newman, the Chief Executive of EROAD, has an indirect interest in the shares held by NMC
Trustees. Steven Newman remains fully committed to EROAD with NMC Trustees retaining an
approximate shareholding of 21.7% after the placement, and prior to the Share Purchase Plan (SPP).
EROAD’s ordinary shares will recommence trading upon market open today. Settlement and
allotment of the new shares is expected to occur on 15 December 2017.
As announced previously, EROAD intends to make an additional offer of at least NZ$4 million
through an SPP. The SPP is expected to give each EROAD shareholder whose address recorded in
EROAD’s share register is in New Zealand an opportunity to subscribe for shares. The final terms of
the SPP are expected to be announced in more detail in early calendar year 2018, but eligible
shareholders will pay the lower of the placement price or a discount to the share price at the time.


- Ends -
For further information contact:
Michael Bushby
Chairman
Michael.Bushby@eroad.com
+64 9 927 4747

About EROAD
EROAD modernises road charging and tax compliance and health and safety compliance for road
transport by replacing paper-based systems with easy-to-use electronic systems that also improve
fleet management. The company is headquartered in Auckland, New Zealand, and listed on the
New Zealand Exchange (NZX). Its US business is based in Portland, Oregon, serving customers with
vehicles operating in every US mainland state, growing outward in concentration from the
Northwest. In 2009 EROAD introduced the world
’s first nationwide electronic road user charging

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(eRUC) system in New Zealand. Currently half of all heavy transport RUC is collected electronically,
representing a rapid transition to e-commerce on a voluntary, industry-led basis, due to the cost
savings and benefits to customers. EROAD is also a leading provider of health and safety
compliance services, including vehicle management and driver behaviour and performance
measures.
For more information please visit www.eroad.com.
For a detailed description of EROAD’s business, and terms including Total Contracted Units, Future
Contracted Income and Retention Rate, which are non GAAP measures used by EROAD to manage
the business, please refer to the Appendix of the November 2017 Half Year Presentation.