Completion of Retail Bookbuild; Conclusion of Capital Raise

Company Announcement
17 November 2021

COMPLETION OF RETAIL BOOKBUILD, CONCLUSION OF CAPITAL RAISE
Transport and logistics company, MOVE Logistics Group Limited (NZX: MOV), has successfully
completed the retail bookbuild component (Retail Bookbuild) 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. As a result, MOVE has now successfully completed the Offer, raising
approximately $40 million.
The Retail Bookbuild was strongly supported at a clearing price of $1.74 per share. The clearing price
represents a premium of $0.34 per share (24.3%) over the Offer application price of $1.40 and a
premium of $0.17 per share (11.1%) to the theoretical ex-rights price of $1.57
1
. Retail shareholders
who did not exercise their full entitlement or were ineligible to do so will receive $0.34 for each of
their unexercised entitlements (net of any applicable withholding tax).
The total gross proceeds raised in the Retail Entitlement Offer and Retail Bookbuild was
approximately $13 million.
Chair of MOVE, Lorraine Witten, said: “We are delighted with the support shown by existing
shareholders and to welcome new investors to our register. The funds raised will allow us to reduce
debt, strengthen our balance sheet and move forward with the execution of our new strategy.
“We are investing thoughtfully as we transition towards becoming a multimodal freight and logistics
group, as well as taking actions on climate change. We have recently entered the shipping space,
with the launch of the MOVE Oceans venture providing a greener alternative to road transport and
reducing the number of heavy trucks on New Zealand’s roads. We are also supporting the
development of alternative fuel technologies and have ordered the first two hydrogen fuel cell
trucks for New Zealand, being bought by leasing company, TR Group. These will add to our electric
metro truck already operating in Auckland.
“We have a number of exciting opportunities in front of us as we seek to provide value for our
customers and our people. We look forward to updating shareholders on our plans at our upcoming
Annual Meeting on 23 November 2021.”
MOVE’s shares are expected to resume normal trading on the NZX today, Wednesday 17 November
2021. The New Shares to be issued under the Retail Entitlement Offer and Retail Bookbuild are
expected to be allotted and commence trading on the NZX on Thursday 18 November 2021 and will
rank on issue equally with existing ordinary shares.
ENDS




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 depends 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.

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.