Contact Energy Limited (NZX: CEN) Opening of NZ$75 million Retail Offer

Thursday 18th February 2021

Contact Energy Limited is pleased to announce the opening of its non-underwritten NZ$75 million retail offer (“Retail Offer”) today. The Retail Offer is part of Contact’s NZ$400 million equity raising announced on 15 February 2021, pursuant to which Contact also undertook a fully underwritten NZ$325 million placement of new shares to institutional shareholders in New Zealand, Australia and certain other jurisdictions (“Placement”).

Contact announced the successful completion of the Placement on 16 February 2021. The Placement of NZ$325 million of new, fully paid ordinary shares was fully subscribed at the fixed price of NZ$7.00 per share, which represented a discount of 2.8% to the last close price of NZ$7.20 per share on 12 February 2021 and a discount of 7.8% to the five-day volume weighted average price of NZ$7.60 (assessed up to and including 12 February 2021). Settlement of the Placement is expected to occur on 18 February 2021 for the ASX and on 19 February 2021 for NZX, with the allotment of all shares and the commencement of trading on NZX and ASX expected to occur on 19 February 2021.

Under the Retail Offer, eligible existing shareholders whose address is recorded in Contact’s share register as being in New Zealand or Australia can each subscribe for up to NZ$50,000/A$46,500 worth of new Contact shares. The offer price of these shares will be the lower of the Placement offer price of NZ$7.00 and a 2.5% discount to the five-day volume weighted average price of Contact shares traded on the NZX during the last five business days of the Retail Offer period (inclusive). The new shares to be issued under the Retail Offer will rank equally in all respects with Contact’s existing ordinary shares.

The Retail Offer size of up to NZ$75 million (with the ability to accept oversubscriptions at Contact’s discretion) has been sized to reflect the retail shareholder base, with the objective of providing almost all existing eligible shareholders the opportunity to achieve at least their pro rata portion of the equity raising. If scaling of the Retail Offer is required, it will be done having regard to shareholders’ existing shareholdings at the record date of 12 February 2021.

Please see the links below for details:

Opening of NZ$75 million Retail Offer

Retail Offer booklet

Source: Contact Energy Limited

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