Savor closes fully underwritten $3.25 million capital raise

Capital Change Notice




Section 1: Issuer information
Name of issuer Savor Limited
NZX ticker code SVR
Class of financial product Ordinary shares
ISIN (If unknown, check on NZX website) NZMOAE0001S1
Currency NZD
Section 2: Capital change details
Number issued 7,683,214
Nominal value (if any) N/A
Issue price per security 42.3 cents per share
Nature of the payment (for example, cash or other
consideration)
Cash
Amount paid up (if not in full) Paid in full
Percentage of total class of Financial Products issued
(calculated on the number of Financial Products of the Class,
excluding any Treasury Stock, in existence)
11.504%
For an issue of Convertible Financial Products or Options, the
principal terms of Conversion (for example the Conversion
price and Conversion date and the ranking of the Financial
Product in relation to other Classes of Financial Product) or the
Option (for example, the exercise price and exercise date)
N/A
Reason for issue and specific authority for issue (the reason
for change must be identified here)
Issue of 3,793,561 rights issue
shares and 3,889,653 shortfall
shares to underwriters
Total number of Financial Products of the Class after the issue
(excluding Treasury Stock) and the total number of Financial
Products of the Class held as Treasury Stock after the issue.
74,468,161
In the case of an acquisition of shares, whether those shares
are to be held as treasury stock
N/A
Specific authority for the issue, including a reference to the
rule pursuant to which the issue is made
Directors’ resolutions dated 21
February 2023 for issue of
rights issue shares under NZX
Listing Rule 4.3.1(a) and NZX
Listing Rule 4.4.1(a) for the
shortfall
Terms or details of the issue (for example: restrictions, escrow
arrangements)
New ordinary shares which
rank equally with all other fully
paid ordinary shares
Date of issue 28/02/2023

Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement Tim Peat
Contact person for this announcement Tim Peat
Contact phone number 021 049 7442
Contact email address tim@savor.co.nz
Date of release through MAP

28/02/2023

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NZX Release 28 February 2023

Savor closes fully underwritten capital raise of $3.25 million

Savor Limited (NZX: SVR) (“Savor” or with its subsidiaries “the Group”), New Zealand’s premier
hospitality group, is pleased to announce that it has successfully completed its fully underwritten
capital raise to shareholders.

The rights issue resulted in 3,793,561 shares being taken up by shareholders, totalling $1.6 million,
and 3,889,653 shares subscribed for by underwriters, to raise a total of $3.25 million.

Following receipt of the funds from the capital raise, Savor will apply the proceeds to pay down all
floating rate liabilities by the end of March 2023.

Savor expects that the new shares will be allotted, and statements sent out to shareholders, on 28
February 2023.

-ENDS-

Investor Enquiries
Tim Peat
CFO, Savor
Mobile: 021 049 7442
Email: tim@savor.co.nz
About Savor
Savor, established in 2011, is one of New Zealand’s largest hospitality businesses with 18 iconic
venues in Auckland, including Amano, Azabu Ponsonby, Azabu Mission Bay, Ebisu and Non Solo
Pizza, each with its own unique concept, culture and offering. In 2022, Savor opened Bivacco in
Auckland’s Viaduct Harbour and brought iconic Melbourne concept MoVida to Britomart’s Seafarers
Building. Savor has a reputation for originality, the quality of its products and the high standard of
service that is consistent across the company portfolio.