Vista completes Placement and Institutional Entitlement Off

17 April 2020
NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

VISTA GROUP INTERNATIONAL LIMITED SUCCESSFULLY COMPLETES ITS FULLY
UNDERWRITTEN NZ$25 MILLION PLACEMENT AND APPROXIMATELY NZ$26 MILLION
INSTITUTIONAL COMPONENT OF ITS 1 FOR 4.37 PRO RATA ACCELERATED
ENTITLEMENT OFFER


Vista Group International Limited (Vista Group) is pleased to announce that it has successfully completed its
NZ$25 million underwritten placement (Placement) and the institutional entitlement offer component
(Institutional Entitlement Offer) of its fully underwritten 1 for 4.37 pro-rata accelerated entitlement offer
(Entitlement Offer) as announced on Thursday 16 April 2020
1
. A total of approximately NZ$65 million will be
raised under the Placement and Entitlement Offer.
The Institutional Entitlement Offer and Placement closed on Thursday, 16 April 2020 and raised combined gross
proceeds of approximately NZ$51 million. Both tranches were well supported by Vista Group’s existing
shareholders and the broader market. In respect of the Institutional Entitlement Offer, eligible institutional
shareholders elected to take up 94.5% of their entitlements. The Placement and shortfall attracted bids well in
excess of the offer amount with Shares being allocated to 31 institutional investors, as well as retail broker firms.
Vista Group’s shares are expected to resume normal trading on the NZX and ASX on Friday, 17 April 2020 and
Monday, 20 April 2020 respectively. The new fully paid ordinary shares in Vista Group (New Shares) offered
under the Placement and Institutional Entitlement Offer are expected to be allotted and commence trading on
NZX and ASX on Friday, 24 April 2020 and will rank equally with existing fully paid ordinary shares.
Retail Entitlement Offer
The retail component of the Entitlement Offer (Retail Entitlement Offer) will open on Thursday, 23 April 2020
and close at 5.00pm (NZST) on Tuesday, 5 May 2020. Eligible Retail Shareholders with an address shown in
Vista Group’s share register as being in New Zealand or Australia will be invited to participate at the same offer
ratio as the Institutional Entitlement Offer and will be able to subscribe for 1 New Share for every 4.37 Vista
Group shares held on the Record Date, being 7.00pm (NZST) on Monday 20 April 2020. These New Shares are
offered at the same application price as the Placement and Institutional Entitlement Offer of NZ$1.05 per New
Share (or the A$ Price that has now been set as A$1.00 per New Share, which was determined based on the
closing AUD/NZD exchange rate on Thursday 16 April 2020 of 1.0524) (Application Price).
An offer document (Offer Document) (accompanied by a personalised entitlement and acceptance form) will be
sent to Eligible Retail Shareholders on Thursday, 23 April 2020 and is available on the website established for
the Entitlement Offer at www.vistashareoffer.co.nz.
Eligible Retail Shareholders wishing to acquire New Shares under the Retail Entitlement Offer will need to
complete an online application (via the website noted above) or complete their personalised entitlement and
acceptance form. Retail shareholders are strongly encouraged to complete applications online via
www.vistashareoffer.co.nz given the likelihood of delays with the postal system at this time. Those that do apply
for shares by postal applications are strongly encouraged to mail their applications as early as possible during
the offer period.
Eligible Retail Shareholders may choose to take up their entitlements in whole, in part or not at all. Those who
have taken up all of their entitlements in full may apply for additional New Shares at the Application Price up to

1
The Entitlement Offer is fully underwritten by the Underwriters, except in relation to $4.7m of New Shares for which Vista’s founders, directors
and senior management have committed to subscribe.

an additional 40% of their pro-rata entitlement by completing the appropriate section on the entitlement and
acceptance form, or as directed via the online application. Payment must be made for both your entitlements
and any additional New Shares for which you wish to apply.
If you, as an Eligible Retail Shareholder, do not take up your full entitlement under the Retail Entitlement Offer,
then your entitlement will lapse, and you will receive no value for those lapsed entitlements. The entitlements
cannot be traded or sold on the NZX or ASX. Those shareholders who do not exercise their entitlements, or who
are ineligible to do so, will have their shareholdings diluted.
2

Further information
Shareholders who have any questions about the Entitlement Offer are encouraged to read the Offer Document
and seek financial, investment or other professional advice from a qualified professional adviser.
For more information on the content of this announcement, please contact:
Kimbal Riley
Chief Executive Officer
Vista Group International Limited
Contact: kimbal.riley@vista.co

Matt Cawte
Chief Financial Officer
Vista Group International Limited
Contact: matt.cawte@vista.co



Note: All capitalised terms not defined in this announcement have the meanings given in Part 5: Glossary of
Vista Group’s Offer Document dated 16 April 2020.

This announcement has been prepared for publication in Australia and New Zealand and is not for
di stribution or release in the United States. This announcement does not constitute an offer to sell, or
the solicitation of an offer to buy, any securities in the United States. Any securities described in this
announcement have not been, and will not be, registered under the US Securities Act of 1933, as
amended, or the securities laws of any state or other jurisdiction of the United States, and may not be
offered or sold in the United States except in transactions exempt from, or not subject to, registration
under the US Securities Act and applicable US state securities laws.


2
Eligible Retail Shareholders who take up 140% of their Entitlements in the Offer will be diluted by approximately 4.5%.