IKE completes A$18 million placement

14 July 2025
Not for release or distribution in the United States
IKE Successfully Completes A$18 Million Fully Underwritten Placement
Key Highlights
• ikeGPS Group Limited (IKE / ikeGPS) (NZX/ASX: IKE) is pleased to announce the successful
completion of its approximately A$18.0 million (approximately NZ$19.6 million) fully underwritten
placement of new ordinary shares to sophisticated, professional and institutional investors that
was announced on Thursday 10 July 2025 (Placement).
• Pleasingly, the Placement was well supported with strong over-demand from existing investors as
well as multiple new long only ASX institutional investors.
• IKE will offer eligible existing shareholders the opportunity to participate in a non-underwritten
share purchase plan to raise up to A$2.0 million
1
(approximately NZ$2.2 million) (SPP, and
together with the Placement, the Equity Raising).
• Proceeds from the Equity Raising will be used to fund new product development to maintain and
extend IKE’s market leadership, accelerate sales and marketing efforts, and provide balance sheet
flexibility to execute on potential strategic bolt-on acquisition opportunities and general working
capital.
• IKE will develop two important new next-generation subscription product modules in collaboration
with its extended customer-council, which are intended to extend IKE’s value in how utilities and
communications companies capture, digitize, and manage their distribution networks.
Commenting on the successful Placement, IKE’s Chief Executive Officer & Managing Director, Glenn
Milnes said:
“We are extremely pleased by the level of support we have received from our existing shareholders as well
as new institutional funds. This support places us in a strong position to execute on our accelerated growth
plans, as detailed in our Investor Presentation provided to the NZX and ASX on 10 July 2025.”
Settlement of Placement Shares
Settlement of new shares issued under the Placement is expected to occur on Monday, 21 July 2025,
with allotment and commencement of trading of the new shares expected to occur on Tuesday, 22 July
2025. The new shares will rank equally with existing fully paid ordinary IKE shares from the date of
issue.
New shares under the Placement will be issued at a price per share of A$0.81 (NZ$0.88) (Offer Price).
2

The Placement is fully underwritten by Shaw and Partners Limited and Unified Capital Partners Pty Ltd
who are acting as Joint Underwriters, Joint Lead Managers and Joint Bookrunners to the Placement.
3

Chapman Tripp are acting as legal counsel to IKE in connection with the Equity Raising.

1
The target SPP size of A$2.0 million is the expected amount to be raised under the SPP, however it may be more
or less. IKE may in its absolute discretion decide to accept applications (in whole or in part) that result in the SPP
raising more than A$2.0 million. Further details of the SPP will be contained in the SPP offer booklet, which will
be available to eligible IKE shareholders on 16 July 2025.
2
Based on an NZD:AUD exchange rate of 1:0.9184 as at 9 July 2025 (RBA Quoted Exchange Rate at 4pm).
3
For further details regarding the nature of the underwriting arrangements, please see the Investor Presentation
released to the ASX and NZX on 10 July 2025.

Details of Share Purchase Plan
Following the completion of the Placement, IKE will offer eligible existing shareholders the opportunity
to participate in a non-underwritten SPP to raise up to A$2.0 million (approximately NZ$2.2 million).
1

Under the SPP, eligible IKE shareholders, being shareholders who have a registered address in Australia
and New Zealand on IKE’s register at 7.00pm AEST / 9.00pm NZST on Wednesday, 9 July 2025, will
have the opportunity to apply for up to a maximum of A$30,000 or NZ$32,500, respectively, of new
shares free of any brokerage, commission, and transaction costs. New shares to be issued under the
SPP will be issued at the Offer Price.
New shares to be issued under the SPP will rank equally with existing IKE shares on issue and will be
quoted on the NZX and ASX from the date of SPP allotment. If the SPP is oversubscribed, IKE may scale
back applications at its discretion, by reference only to the number of fully paid ordinary shares held by
eligible shareholders accepting the SPP at 7.00pm AEST / 9.00pm NZST on Wednesday, 9 July 2025.
The Directors of the Company who are Eligible Shareholders intend to apply to fully participate in the
SPP.
Further details of the SPP will be set out in the SPP offer booklet, which will be released to the NZX and
ASX on Wednesday, 16 July 2025. The closing date for applications by eligible shareholders is 7 August
2025.
Further Information
Further details of the Equity Raising are set out in the Investor Presentation provided to the NZX and
ASX on 10 July 2025. The Investor Presentation contains important information including key risks and
international offer restrictions with respect to the Placement.

This announcement was authorised for lodgement with NZX and ASX by the IKE board of directors.

Contact
For further information, please contact:

Glenn Milnes
CEO & Managing Director
+1 720-418-1936
glenn.milnes@ikegps.com


Simon Hinsley
Investor Relations
+61-401-809-653
simon@nwrcommunications.com.au

About IKE
We’re IKE, the PoleOS Company. IKE seeks to be the standard for collecting, analysing and managing
pole and overhead asset information for electric utilities, communications companies, and their
engineering service providers. The IKE platform allows electric utilities, communications companies,
and their engineering service providers to increase speed, quality, and safety for the construction and
maintenance of distribution assets. The revenue engine for IKE is driven by both the number of users
within enterprise customers subscribing to the IKE platform and the volume of assets (called
Transactions) being processed through IKE software.

Not for release or distribution in the United States
This market release has been prepared for publication in Australia and New Zealand and may not be
released or distributed in the United States. This market release does not constitute an offer to sell, or
a solicitation of an offer to buy, any securities in the United States or any other jurisdiction in which
such an offer would be illegal. The securities referred to in this release have not been, and will not be,
registered under the US Securities Act of 1933 as amended (the US Securities Act) or the securities
laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or
indirectly, in the United States or to persons acting for the account or benefit of a person in the United
States except in transactions exempt from, or not subject to, the registration requirements of the US
Securities Act and the securities laws of any state or other jurisdiction of the United States. The
securities to be offered and sold in the SPP may only be offered and sold outside the United States in
“offshore transactions” (as defined in Rule 902(h) under the US Securities Act) in reliance on Regulation
S under the US Securities Act.

You must not send copies of this announcement or any other material relating to the SPP to any person
in the United States or elsewhere outside Australia and New Zealand. The release, publication or
distribution of this announcement (including an electronic copy) outside New Zealand or Australia may
be restricted by law. If you come into possession of this announcement, you should observe such
restrictions. Any non-compliance with these restrictions may contravene applicable securities laws.


Important notice
This market release does not constitute investment or financial product advice, nor is it a
recommendation to acquire shares in IKE. It is not intended to be used as the basis for making a
financial decision, nor is it intended to constitute legal, tax, accounting or other advice. You should make
your own enquiries and investigations regarding any investment, and should seek your own professional
advice on the legal, financial, accounting, taxation and other consequences of investing in IKE.

This market release is not a prospectus, product disclosure statement or any other disclosure or
offering document under New Zealand and Australian law (and has not been, and will not be, lodged
with the Australian Securities and Investments Commission) or any other law. This market release is
for information purposes only and is not an invitation or offer of securities for subscription, purchase
or sale in any jurisdiction and neither this market release nor anything in it shall form any part of any
contract for the acquisition of IKE shares.

Disclaimer
To the maximum extent permitted by law, each of IKE, the Joint Lead Managers and their respective
affiliates, related bodies corporate, directors, officers, partners, employees, agents and advisers (Joint
Lead Manager Parties) disclaim all liability and responsibility (whether in tort (including negligence) or
otherwise) for any direct or indirect loss or damage which may be suffered by any person through use
of or reliance on anything contained in, or omitted from, this announcement. None of the Joint Lead
Manager Parties have authorised, permitted or caused the issue, submission, dispatch or provision of
this announcement and none of them makes or purports to make any statement in this announcement
and there is no statement in this announcement which is based on any statement by any of them
(except the Joint Lead Managers' names). The Joint Lead Manager Parties make no representation or

warranty, express or implied, as to the currency, accuracy, reliability or completeness of information in
this announcement and, with regard to the Joint Lead Manager Parties take no responsibility for any
part of this announcement, the Placement or the SPP. The Joint Lead Manager Parties make no
recommendations as to whether you or your related parties should participate in the Placement or SPP
nor do they make any representations or warranties to you concerning the Placement or SPP, and you
represent, warrant and agree that you have not relied on any statements made by the Joint Lead
Manager Parties in relation to the Placement and SPP and you further expressly disclaim that you are
in a fiduciary relationship with any of them. Statements made in this announcement are made only as
at the date of this announcement. The information in this announcement remains subject to change
without notice. Determination of eligibility of investors for the purposes of the SPP is determined by
reference to a number of matters, including legal regimes and the discretion of the Joint Lead Managers
and IKE. IKE and the Joint Lead Managers disclaim all liability in respect of the exercise of that
discretion to the maximum extent permitted by law.