Opening of Retail Entitlement Offer

Shareholder Communication
1 November 2021

Not for release or distribution in the United States

Dear Shareholder
As announced on 27 October 2021, MOVE Logistics Group Limited (MOVE) is seeking to raise
approximately $40 million of new capital via a fully underwritten 1 for 3.06 accelerated
renounceable entitlement offer (Offer).
We invite you to participate in the retail component of the Offer (Retail Entitlement Offer). This
email provides details on MOVE, the Retail Entitlement Offer and how to participate.
Key Highlights:
• MOVE is one of New Zealand’s largest logistics companies providing end-to-end supply chain
solutions to SMEs and large corporate customers across New Zealand
• Strategic review undertaken and business realignment underway to build on MOVE’s
substantial logistics and distribution network, unlock value and maximise shareholder
returns
• Focus on increasing total earnings and lifting margins
• Significant unrealised potential identified to deliver growth through organic opportunities
and execution of identified and potential acquisition targets
• Rejuvenated Board and leadership team with recent additions bringing extensive industry
experience and deep sector knowledge
• Post the capital raise, MOVE expects debt leverage to be in line with sector peers, providing
balance sheet flexibility to enable MOVE to accelerate its brand refresh, complete its
business restructure, fund further capital initiatives (including in information technology
systems), modernise the fleet and enter into intermodal and maritime leases.
Offer Details
The Offer is a fully underwritten pro-rata accelerated renounceable entitlement offer of new
ordinary shares (New Shares) to existing shareholders and is comprised of both an institutional
component and the Retail Entitlement Offer.
The institutional component of the Offer completed on 28 October 2021.
Under the Retail Entitlement Offer, you are able to apply for 1 New Share for every 3.06 existing
MOVE shares you held at 6.00pm (NZ time) on the Record Date (being Friday, 29 October 2021), at
an application price of NZ$1.40 per New Share.
The application price reflects a 13.6% discount to the closing price of MOVE shares on the NZX of
NZ$1.62 on 26 October 2021 and a 10.6% discount to the Theoretical Ex-Rights Price of NZ$1.57.
1

See below to participate in the Offer. Further details about the Offer can be found at
move.capitalraise.co.nz.

1
TERP is the theoretical ex-rights price at which MOVE’s shares would trade immediately after the ex-date for the Offer.
The TERP is a theoretical calculation only and the actual price at which MOVE’s shares trade immediately after the ex-date
for the Offer will depend on many factors and may not be equal to TERP. TERP is calculated by reference to MOVE’s closing
price of NZ$1.62 on 26 October 2021.

Participating in the Offer
If you decide to participate in the Retail Entitlement Offer, we strongly encourage you to do so by
completing an online application at move.capitalraise.co.nz.
To complete your application online you will need your Holder Number and the unique Entitlement
Number below. You should complete your application allowing sufficient time for it to be received
by 5.00pm (NZ time) on Friday, 12 November 2021.
Your online application details
Holder Number:
Entitlement Number:
Alternatively, if you require a printed copy of the Entitlement and Acceptance Form you can request
one here https://move.linkinvestorservices.co.nz/forms/hard-copy. The printed copy of the
Entitlement and Acceptance Form together with the Offer Document will be sent to you the next
business day. However, given the possibility of postal delays, we recommend that any applications
by eligible retail shareholders are made online at move.capitalraise.co.nz.
The Retail Entitlement Offer is intended to close at 5:00pm (NZ time) on 12 November 2021
Please read the Offer Document carefully before deciding what to do. If you have any questions
about your entitlements, you are encouraged to talk to a professional adviser.
On behalf of the Board, I thank you for your continued support of MOVE and welcome your
participation in the Retail Entitlement Offer.
Yours sincerely
Lorraine Witten
Chair, MOVE Logistics Group Limited

Capitalised terms used in this email and not otherwise defined have the specific meaning given to them in the Glossary at
the back of the Offer Document.
The Offer Document and this email are intended for use only in connection with the Offer to Eligible Shareholders (as
defined in the Offer Document). No action has been taken to permit an offering of the New Shares in any jurisdiction
outside those noted in the Offer Document. The distribution of the Offer Document and this email (including electronically)
outside of New Zealand or Australia may be restricted by law and persons who come into possession of it (including
nominees, trustees or custodians) should observe any such restrictions. The Offer Document and this email do not
constitute an offer or invitation in any place in which, or to any person to whom, it would not be lawful to make such an
offer or invitation.
NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES
This communication does not constitute an offer of securities in any place outside New Zealand or Australia. In particular, this
email does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or in any jurisdiction
in which such an offer would be illegal. The offer and sale of the securities referred to in this email have not been, and will not
be, registered under the U.S. Securities Act of 1933 or the securities laws of any state or other jurisdiction of the United States
and accordingly, such securities may not be offered, sold or otherwise transferred, directly or indirectly, in the United States or
to any person acting for the account or benefit of a person in the United States (to the extent such person is acting for the
account or benefit of a person in the United States).
You must not send copies of this email or any other material relating to the Retail Entitlement Offer to any person in the United
States or elsewhere outside New Zealand and Australia.

---

Company Announcement
1 November 2021

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

OPENING OF RETAIL ENTITLEMENT OFFER
MOVE Logistics Group Limited (NZX: MOV), has today opened the retail entitlement offer
component (Retail Entitlement Offer) of its fully underwritten 1 for 3.06 pro rata accelerated
renounceable entitlement offer (Offer) of new ordinary shares (New Shares), as part of the
approximately $40 million capital raise announced on 27 October 2021.
Full details of the Retail Entitlement Offer are contained in the Offer Document. The Offer
Document and Entitlement and Acceptance Form are available to eligible retail shareholders (with a
registered address in New Zealand or Australia at 6.00pm (NZ time) on the record date of 29 October
2021) online at move.capitalraise.co.nz from today (1 November 2021). Copies of the Offer
Document and Entitlement and Acceptance Form will also be sent to eligible retail shareholders who
have elected to receive communications by post.
Eligible retail shareholders have until 5.00pm (NZ time) on Friday, 12 November 2021 to take up
their entitlement for New Shares.
Given the present uncertainties with respect to postal timing, all shareholders that wish to take up
their entitlements, are encouraged to apply online. Applications under the Retail Entitlement Offer
will be accepted online at move.capitalraise.co.nz from 10.00am today.
Each eligible retail shareholder’s personalised Entitlement and Acceptance Form contains details of
that shareholder’s entitlement and should be completed in accordance with the instructions
provided on the form, and the instructions in the Offer Document.
In addition to being able to take up their entitlements, eligible retail shareholders may transfer all or
part of their entitlements to a person nominated by them by completing the applicable section of
their acceptance form. While shareholders may transfer entitlements privately, entitlements will not
be tradeable on the NZX Main Board.
Entitlements not taken up or attributable to ineligible retail shareholders will be offered to
institutional investors through a bookbuild process run by the joint lead managers. Any premium
achieved above the application price for the entitlements in the bookbuild will be shared between
those retail shareholders who do not exercise their entitlements or who are ineligible to do so in
proportion to their holdings of unexercised entitlements. Those shareholders who do not exercise
their entitlements, or who are ineligible to do so, will however have their shareholdings diluted.
Shareholders who have any questions about the Retail Entitlement Offer are encouraged to read the
Offer Document and seek financial, investment or other professional advice from a qualified
professional adviser.
The Offer is fully underwritten by Craigs Investment Partners and Bell Potter Securities Limited.

Additional Information
Additional information regarding the Offer is contained in the investor presentation and Offer
Document which can be viewed by searching the ticker code “MOV” on the NZX. The investor
presentation and Offer document contain important information including key risks and foreign
selling restrictions with respect to the Offer.
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