Thursday, 16 August 2018

Announcement

OFFER: ERD: EROAD LIMITED SUCCESSFULLY COMPLETES EQUITY RAISING

13 Dec 2017 08:30NZX
13 December 2017

EROAD Limited (NZX: ERD) (EROAD) is pleased to announce it has successfully
raised approximately NZ$15.5 million through its placement announced on 12
December 2017 at a price of NZ$3.04 per share, a 4.7% discount to EROAD''s 5
day VWAP.  The increase in the size of the placement reflects the strong
support from a number of new and existing investors.

As part of the placement, NMC Trustees Limited as trustee of the NMC
Investment Trust (NMC Trustees), EROAD''s largest shareholder, also
successfully offered NZ$5 million of its shares for sale through the
placement.

Steven Newman, the Chief Executive of EROAD, has an indirect interest in the
shares held by NMC Trustees.  Steven Newman remains fully committed to EROAD
with NMC Trustees retaining an approximate shareholding of 21.7% after the
placement, and prior to the Share Purchase Plan (SPP).

EROAD''s ordinary shares will recommence trading upon market open today.
Settlement and allotment of the new shares is expected to occur on 15
December 2017.

As announced previously, EROAD intends to make an additional offer of at
least NZ$4 million through an SPP.  The SPP is expected to give each EROAD
shareholder whose address recorded in EROAD''s share register is in New
Zealand an opportunity to subscribe for shares. The final terms of the SPP
are expected to be announced in more detail in early calendar year 2018, but
eligible shareholders will pay the lower of the placement price or a discount
to the share price at the time.

- Ends -

For further information contact:
Michael Bushby
Chairman
Michael.Bushby@eroad.com
+64 9 927 4747

About EROAD

EROAD modernises road charging and tax compliance and health and safety
compliance for road transport by replacing paper-based systems with
easy-to-use electronic systems that also improve fleet management. The
company is headquartered in Auckland, New Zealand, and listed on the New
Zealand Exchange (NZX). Its US business is based in Portland, Oregon, serving
customers with vehicles operating in every US mainland state, growing outward
in concentration from the Northwest. In 2009 EROAD introduced the world''s
first nationwide electronic road user charging (eRUC) system in New Zealand.
Currently half of all heavy transport RUC is collected electronically,
representing a rapid transition to e-commerce on a voluntary, industry-led
basis, due to the cost savings and benefits to customers. EROAD is also a
leading provider of health and safety compliance services, including vehicle
management and driver behaviour and performance measures.

For more information please visit www.eroad.com.

For a detailed description of EROAD''s business, and terms including Total
Contracted Units, Future Contracted Income and Retention Rate, which are non
GAAP measures used by EROAD to manage the business, please refer to the
Appendix of the November 2017 Half Year Presentation.
End CA:00311806 For:ERD    Type:OFFER      Time:2017-12-13 08:30:40
Views: 109
EROAD Limited Ordinary Shares
 3.700 Change:
0.00
0.00%
 
Open:3.700 
High:3.700 
Low:3.700 
Volume:0 
Last Traded:07/02/18 00:20:49 
Bid:3.650 
Ask:3.700 
52-Wk High:3.990 
52-Wk Low:1.610