1 for 6 Rights Issue

Enprise Group Limited
Corporate Action Notice

Page 1 of 2
Section 1: issuer information (mandatory)
Name of issuer Enprise Group Limited
Class of Financial Product Ordinary Shares
NZX ticker code ENS
ISIN (If unknown, check on NZX
website)
NZENSE0001S2

Name of Registry Link Market Services Limited
Type of corporate action
(Please mark with an X in the relevant
box/es)
Share purchase
plan
Renounceable
Rights issue
X
Capital
reconstruction
Non
Renounceable
Rights issue

Call Bonus issue
Record date 5.00pm on 16/04/2020
Ex-Date (one business day before the
Record Date)
15/04/2020
Currency NZD
Section 2: Rights issue (delete if not applicable)
Number of Rights to be issued 2,271,575
Number of Financial Products to be
issued under the Rights issue
2,271,575
ISIN of Rights Security (if applicable) NZENSE0002S0
Minimum entitlement N/A
Entitlement ratio (for example 1 for 2) New 1 Existing 6
Treatment of fractions Rounded down to the nearest share
Subscription price $0.50
Letters of entitlement mailed 17/04/2020
Offer close 04/05/2020
Quotation Date
1
(if applicable) Market open on:
15/04/2020
Allotment Date Market open on:
08/05/2020
Section 7: Authority for this announcement (mandatory)

1
The Quotation date for Rights will be the Ex Date.

2 of 2
Name of person authorised to make this
announcement
Elliot Cooper
Contact person for this announcement Elliot Cooper
Contact phone number 0275 615 501
Contact email address elliotc@enprise.com
Date of release through MAP 06/04/2020

---

6 April 2020
NZX Limited
WELLINGTON

Enprise Group Limited to undertake a 1 for 6 Rights Issue
Enprise Group Limited (NZX:ENS) announces a capital raising of up to $1.135 million via a 1 for 6 pro-
rata renounceable rights offer, to assist the Company to:
• Replenish working capital reserves following investments made in Datagate
Innovations Limited (“Datagate”), Vadacom Limited (“Vadacom”) and iSell Pty Ltd
(“iSell”).

• Realise the benefit of completing the 100% acquisition of Kilimanjaro Consulting Pty Limited
(“Kilimanjaro”) and provide for future growth of the Enterprise Solutions division in Australia
and New Zealand.

• Invest further into iSell to accelerate the penetration into new markets starting with the
United Kingdom, where 11 customers have already been acquired. iSell has redeveloped
(over the last few years) a cloud version of its previously successful on premise product.
iSell is now transitioning from the development phase to a sales and marketing phase. To
date iSell have successfully on-boarded 135 customers to their new cloud SaaS platform
and are now working on migrating the balance of their on-premises customers. In tandem
with this migration, iSell will be focused on growing sales in their established markets
(Australia, New Zealand, South Africa and the United Kingdom).
A rights offer of approximately $1.135 million will allow eligible shareholders to subscribe for 1
additional share for each 6 existing shares held on the record date at $0.50 per share. This
represents a 17% discount to the 30 day VWAP of $0.604.
The full terms and conditions of the rights issue will be contained in an offer document which will be
distributed to all eligible shareholders (as defined in the offer document) after the proposed record
date.
Capital Raising Terms
Entitlement Ratio: 1 new share for every 6 existing shares held
Offer Size: NZ$1.135 million

Maximum New Shares to be
issued: 2,271,575

Issue Price: NZ$0.50 per share

Offer Discount: 17% to 30 day VWAP

Eligibility: Available to:
• persons recorded on ENS’ share register with a New
Zealand address at 5:00 pm on 16 April 2020; and
• Wholesale investors recorded on ENS’ share register with
an Australian address at 5:00pm on 16 April 2020.

Ranking: New shares issued on completion of the Rights Offer will rank
equally with existing shares and will be quoted on the NZX

Structure: Pro-rata renounceable Rights Offer provides all Eligible Shareholders
with the opportunity to participate
The ENS Board has resolved to proceed on the above basis at this time and documentation for the
offer is now being prepared. ENS intends to apply to NZX for quotation of the rights shortly and will,
in due course, issue a capital change notice in accordance with the NZX Listing Rules.
Shareholder Options
Subject to NZX accepting the application for quotation of rights, shareholders will have the following
options under the rights issue:
• Take up all or some Rights - You will be able to acquire shares at the Issue Price of $0.50
which is at a discount to the market price immediately prior to the announcement of the
Rights Offer. If you take up all of your rights you will maintain your proportional ownership
of ENS after the Rights Offer as a minimum.

• Sell all or some Rights - If you wish to sell your Rights, you should contact an NZX Broker.
You will receive value for any Rights sold on-market, but you may be required to pay
brokerage on the sale of your Rights. There is no assurance that an active market for trading
in Rights will develop.

• Let Rights lapse - If you do nothing, your Rights will lapse and you will not be able to
subscribe for any new shares.
If you do nothing, your Rights will lapse and you will not be able to subscribe for any new shares or
realise any other value for your Rights. If shareholders are unsure of what course of action to take
they should obtain independent financial advice.
Rights Issue Indicative Timetable
Shares quoted “ex-rights” and Rights Trading commences on the NZX Main Board – 15 April 2020

Record date – 16 April 2020

Offer documents sent and Offer opens for acceptance – 17 April 2020

Rights trading ceases – 28 April 2020

Rights offer closes (and last date for receipt of renunciations) – 4 May 2020

New shares allotted and commence trading – 8 May 2020
ENDS
For further information, please contact:
Elliot Cooper
Chief Executive Officer
Phone: 0275 615 501
Email: elliotc@enprise.com