Completion of Institutional Entitlement Offer and Bookbuild

Company Announcement
29 October 2021

Not for release to US wire services or distribution in the United States

MOVE SUCCESSFULLY COMPLETES INSTITUTIONAL ENTITLEMENT OFFER AND
BOOKBUILD
Transport and logistics company, MOVE Logistics Group Limited (NZX: MOV), has successfully
completed the institutional entitlement offer component (Institutional Entitlement Offer) of its fully
underwritten 1 for 3.06 pro rata accelerated renounceable entitlement offer (Offer) of new ordinary
shares (New Shares) announced on 27 October 2021. A total of approximately $40 million will be
raised under the Offer.
Institutional Entitlement Offer and Bookbuild
The Institutional Entitlement Offer closed on Wednesday 27 October 2021. Excluding MOVE’s five
founder shareholders (who did not take up their entitlements under the Offer), MOVE’s other
eligible institutional shareholders elected to take up 93% of their entitlements under the
Institutional Entitlement Offer. The five existing Australian and New Zealand institutions on MOVE’s
share register took up 100% of their entitlements.
A bookbuild for the approximately 13.6 million entitlements not taken up under the Institutional
Entitlement Offer (Institutional Bookbuild) was conducted on Thursday 28 October 2021. This was
strongly supported, with all entitlements offered in the Institutional Bookbuild being allocated to
five existing and nine new institutional investors, and retail broker firms, at a clearing price of $1.48
per share. The Institutional Entitlement Offer and the Institutional Bookbuild together raised gross
proceeds for MOVE of approximately $27 million.
Lorraine Witten, MOVE’s Chair, said: “We are very pleased with the support from existing
institutional shareholders and to welcome nine new domestic and Australian institutions to our
register. We see their investment in MOVE as an endorsement of our new team, strategic direction
and investment priorities.”
The clearing price of $1.48 represents a premium of $0.08 per share over the Offer application price
of $1.40. Institutional shareholders who did not exercise their entitlements or were ineligible to do
so will receive $0.08 for each of their unexercised entitlements (net of any applicable withholding
tax).
MOVE’s shares are expected to resume normal trading on the NZX on Friday 29 October 2021. The
New Shares offered under the Institutional Entitlement Offer and Institutional Bookbuild are
expected to be allotted and commence trading on the NZX on 5 November 2021 and will rank on
issue equally with existing ordinary shares.
Retail Entitlement Offer
As previously advised, the retail entitlement offer component of the Offer (Retail Entitlement Offer)
will open for eligible retail shareholders (with a registered address in New Zealand or Australia at
6.00pm (NZ time) on the record date) on Monday, 1 November 2021 at 10.00am (NZ time) and

eligible retail shareholders have until 5.00pm (NZ time) on Friday, 12 November 2021 to take up
their entitlement for New Shares.
Under the Retail Entitlement Offer, eligible retail shareholders are entitled to subscribe for 1 New
Share for every 3.06 existing MOVE shares held as at 6.00pm (NZ time) on the record date of Friday,
29 October 2021, at the same application price as the institutional component of the Offer of $1.40
per New Share.
Given the present uncertainties with respect to postal timing, all eligible retail shareholders that
wish to do so, are encouraged to apply online.
Further details, including how to apply, are contained in the Offer Document that is available via NZX
and will be despatched to eligible retail shareholders on Monday, 1 November 2021.
Shareholders who have any questions in respect of the Offer can call Link Market Services Limited on
+64 9 375 5998 (within New Zealand) or +61 1300 554 474 (within Australia) between 8:30am and
5.00pm (NZ time) Monday to Friday. For other questions, investors should contact their broker,
solicitor, accountant, financial adviser or other professional adviser.
The Offer is fully underwritten by Craigs Investment Partners Limited and Bell Potter Securities
Limited.
ENDS

For further information, please contact:

Chris Dunphy
Executive Director
Phone: +61 417 888 930
Email: Chris@movelogistics.com
Lee Banks
Chief Financial Officer
Phone: +64 27 525 2876
Email: Lee.Banks@movelogistics.com

For media assistance, please contact: Jackie Ellis t: + 64 27 246 2505 e: jackie@ellisandco.co.nz

About MOVE Logistics Group Limited (MOV)
MOVE is one of the largest domestic freight and logistics businesses in New Zealand, with a
nationwide network of branches, depots and warehouses.
Additional Information

This announcement has been prepared for publication in New Zealand and may not be released to
US wire services or distributed in the United States. This announcement does not constitute an offer
of securities for sale in the United States or any other jurisdiction. Any securities described in this
announcement may not be offered or sold in the United States absent registration under the US
Securities Act of 1933 or an exemption from registration.