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Share Purchase Plan

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Share Purchase Plan

Directors have decided to make an offer to shareholders under a Share Purchase Plan (SPP) to raise additional equity for investment purposes.

Subject to other participation requirements, shareholders with a registered address in Australia and New Zealand on the register at 7.00pm (AEDT) on Friday 15 January 2021 will be able to invest up to A$30,000 in the Company’s shares.

The shares issued under the SPP will be eligible for fifty per cent of the final dividend that may be declared in respect of the financial year ending 30 June 2021. As a result, shares issued under the SPP will trade under a separate ASX code: DJWN. These shares will trade under the normal ASX code: DJW after existing ordinary shares go ex the entitlement to the final dividend in August 2021.

The SPP issue price will be the lower of $2.98 per share or by applying a 5% discount to the volume-weighted average price of Djerriwarrh shares traded on the Australian Securities Exchange (ASX) and Chi-X Australia automated trading systems over the 5 ASX trading days up to and including the day on which the SPP is scheduled to close (22 February 2021), rounded down to the nearest cent.

Therefore, the maximum price that eligible shareholders will pay is $2.98 per New Share, which was calculated by applying a 5% discount to the volume-weighted average price of shares traded on the ASX and Chi-X Australia automated trading systems over the 5 ASX trading days from 11 January to 15 January 2021 inclusive. Djerriwarrh will announce the final issue price for the SPP after the offer closes.

It is proposed that details of the SPP will be mailed to shareholders on Monday 25 January 2021.

It is also proposed that applications will close on Monday 22 February 2021 and new shares will be issued under the SPP on Wednesday 3 March 2021 and tradeable on the ASX on Thursday 4 March 2021.

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