Successful Completion of Institutional Entitlement Offer

Gentrack Group Ltd | www.gentrack.com | info@gentrack.com | ARBN 169 195 751
NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES
9 July 2018
Gentrack successfully completes Institutional Entitlement Offer and
Institutional Shortfall Bookbuild
Gentrack Group Limited (“Gentrack”) (NZX/ASX: GTK) is pleased to advise that it has
successfully completed the institutional entitlement offer component (“Institutional
Entitlement Offer”) and the institutional shortfall bookbuild component (“Institutional
Shortfall Bookbuild”) of its underwritten 1 for 5.77 pro-rata accelerated entitlement offer
(“Offer”) of new fully paid ordinary shares in Gentrack (“New Shares”) announced on
Wednesday 4 July 2018. A total of approximately NZ$90 million will be raised under the
Offer.
Institutional Entitlement Offer
The Institutional Entitlement Offer closed on Thursday, 5 July 2018 and raised gross
proceeds of approximately NZ$31.5 million, including entitlements attributable to the pre-
committed shareholders.

Gentrack received strong support from Eligible Institutional Shareholders electing to take up
79% of their entitlements, after excluding two directors with significant shareholdings. Total
take-up under the Institutional Entitlement offer was 60%, with Hg subscribing for its full
entitlement and Gentrack Chair, John Clifford, subscribing for NZ$2.5m worth of New
Shares under the Offer.
Institutional Shortfall Bookbuild
The Institutional Shortfall Bookbuild of 3.4 million entitlements was well supported with
strong interest from institutional shareholders and broker firm clients, achieving a clearing
price of NZ$6.69 per share. The clearing price represents a premium of NZ$0.50 per share
(8.1%) over the Offer Price of NZ$6.19, and a discount of NZ$0.19 per share (2.8%) to the
theoretical ex-rights price of NZ$6.88. Therefore, Eligible Institutional Shareholders who
elected not to take up their entitlements and Ineligible Institutional Shareholders will receive
NZ$0.50 for each entitlement not taken up by them (less any applicable taxes).
Amounts payable to Eligible Institutional Shareholders who did not take up their full
entitlement or Ineligible Institutional Shareholders with nominated Australian dollar bank
accounts will be converted from New Zealand dollars by the Registrar at the prevailing
exchange rate for buying Australian dollars using New Zealand dollars at the time of
payment. That exchange rate may be different to the exchange rate used to set the
Australian dollar Offer Price.

Note: All capitalised terms used in this announcement have the meanings given in part 7: Glossary of Gentrack’s Offer
Document dated 4 July 2018

This announcement has been prepared for publication in New Zealand and Australia and may not be released or distributed in
the United States. This announcement does not constitute an offer, invitation or recommendation to subscribe for or purchase
any security or financial product and neither this announcement nor anything attached to this announcement shall form the
basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or the solicitation of
an offer to buy, securities in the United States or any other jurisdiction in which such an offer would be illegal. Any securities
described in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended
(the “U.S. Securities Act”), or the securities laws of any state or jurisdiction of the United States and may not be offered or sold
directly or indirectly in the United States except in transactions exempt from, or not subject to, the registration of the U.S.
Securities Act and any other applicable U.S. state securities laws.

Gentrack Group Ltd | www.gentrack.com | info@gentrack.com | ARBN 169 195 751
The gross proceeds (excluding the premium) raised in the Institutional Entitlement Offer and
Institutional Shortfall Bookbuild is approximately NZ$52.4 million.
Announcement of A$ Offer Price
The Australian dollar price has been set at A$5.69. The Australian dollar Offer Price was
determined using the RBNZ AUD/NZD exchange rate on Friday 6 July 2018 at 3.00pm
(NZT) / 1.00pm (Sydney time).
Retail entitlement offer
Eligible Retail Shareholders will be invited to participate in the retail entitlement offer
component of the Offer (“Retail Entitlement Offer”). The Retail Entitlement Offer will open
on Tuesday, 10 July 2018 and close at 7.00pm (NZ time) and 5.00pm (Sydney time) on
Thursday, 26 July 2018. Eligible retail shareholders will have the opportunity to participate
at the same offer price and offer ratio as the Institutional Entitlement Offer. Eligible Retail
Shareholders can choose to take up their entitlement (“Retail Entitlements”) in whole, in
part or not at all. Retail Entitlements cannot be traded or sold on the NZX or ASX.
An Offer Document (accompanied by a personalised entitlement and acceptance form) will
be sent to Eligible Retail Shareholders on Tuesday, 10 July 2018.
Retail entitlements not taken up by Eligible Retail Shareholders under the Retail Entitlement
Offer, and those which would otherwise have been offered to Ineligible Retail Shareholders,
will be offered for subscription through a retail shortfall bookbuild (“Retail Bookbuild”)
scheduled for Monday, 30 July 2018.
Any proceeds achieved above the Offer Price from the sale of retail entitlements in the
Retail Bookbuild will be paid (less applicable taxes) on a pro-rata basis to those Eligible
Retail Shareholders who do not take up their entitlements in full or who are ineligible to
participate in the Retail Entitlement Offer. There is no guarantee that any amount will be
raised for the sale of Retail Entitlements through the Retail Bookbuild.
Further information and shareholder enquiries
Shareholders who have any questions about the Offer are encouraged to read the Offer
Document and consult their broker, solicitor, accountant, financial adviser or other
professional adviser.
ENDS

Note: All capitalised terms used in this announcement have the meanings given in part 7: Glossary of Gentrack’s Offer
Document dated 4 July 2018

This announcement has been prepared for publication in New Zealand and Australia and may not be released or distributed in
the United States. This announcement does not constitute an offer, invitation or recommendation to subscribe for or purchase
any security or financial product and neither this announcement nor anything attached to this announcement shall form the
basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or the solicitation of
an offer to buy, securities in the United States or any other jurisdiction in which such an offer would be illegal. Any securities
described in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended
(the “U.S. Securities Act”), or the securities laws of any state or jurisdiction of the United States and may not be offered or sold
directly or indirectly in the United States except in transactions exempt from, or not subject to, the registration of the U.S.
Securities Act and any other applicable U.S. state securities laws.

Gentrack Group Ltd | www.gentrack.com | info@gentrack.com | ARBN 169 195 751
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Contact:
Ian Black, CEO
Aaron Baker, Marketing and Communications Director
+64 9 966 6090
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About Gentrack
Gentrack provides essential software for essential services, pairing powerful platforms with
deep market knowledge to help utilities and airports lower service costs, foster innovation
and confidently navigate market reform. It employs over 500 people in offices across New
Zealand, Australia, the UK and Europe and services over 200 utility and airport sites in 30+
countries with its leading solutions for utilities - Gentrack Velocity, Junifer and Evolve
Analytics, and for airports under the Veovo brand including Airport 20/20, BlipTrack and
Concessionaire Analyzer+.
Velocity, Junifer and Evolve Analytics are champion billing, customer and revenue
protection solutions in the sector, providing a full range of proven capabilities along with
hosted and managed services options for new entrant energy and water suppliers, and
larger utilities in competitive markets where flexibility, uniqueness and compliance are
essential.
More information: www.gentrack.com
Veovo combines Gentrack’s Airport 20/20, BlipTrack and Concessionaire Analyzer+
software to unlock operational, revenue, concession and passenger insights across the
airport ecosystem. The Veovo Predictive Collaboration Platform enables airports to operate
more efficiently, uncover new growth opportunities and deliver outstanding guest
experiences.
More information: www.veovo.com