Ann: LISTING: EVO: Evolve Education Group Completes Successful...

• Release Date: 05/12/14 11:00
• Summary: LISTING: EVO: Evolve Education Group Completes Successful Listing
• Price Sensitive: No
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					EVO
05/12/2014 11:00
LISTING
NOT PRICE SENSITIVE
REL: 1100 HRS Evolve Education Group Limited

LISTING: EVO: Evolve Education Group Completes Successful Listing

Evolve Education Group Completes Successful Listing

News Release

Evolve Education Group Limited (Evolve Education) made its debut on the NZX
today after successfully raising NZ$132 million through an initial public
offering (IPO) of its shares.

The IPO attracted strong demand from institutions from New Zealand and
Australia as well as private clients of participating NZX firms. At the
listing price of NZ$1.00 per share Evolve Education's market capitalisation
was NZ$177 million, with a majority New Zealand-based ownership.

Evolve Education Chair Norah Barlow said: "The very strong support for the
IPO from a range of investors is an endorsement of the quality of the assets
that will make up Evolve Education. We acknowledge the support that new
shareholders have placed in the company's ability to deliver on its goals. We
also thank all those who have helped to make Evolve Education a reality."

The acquisitions of Lollipops Educare and PORSE settled yesterday and those
two businesses, which have been providing childcare to New Zealand families
for more than 15 years, are now the cornerstone brands in Evolve Education.
The remaining proceeds from the IPO will be used to acquire the balance of
the initial portfolio of existing businesses in the Early Childhood Education
(ECE) field that were referred to in the prospectus.

Evolve Education Chief Executive Officer Alan Wham echoed the strong investor
support received during the IPO process. "Integration of the ECE centres has
already started given that Evolve Education is a reality. Settlement of the
initial portfolio can now take place and management will look to pursue
additional acquisitions in due course."  The new financing facilities with
ASB that were described in the prospectus are also in place.

Mr Wham also gave special thanks to Lollipops founders Mark Finlay, Russell
Thompson and Andy Scott who are now cornerstone shareholders in Evolve
Education. "Mark is also taking a leading role in the continued development
of Evolve Education and will continue as a director and adviser, helping
steer the future of this business."

NZX Chief Executive Officer Tim Bennett commented that Evolve Education is a
great addition to New Zealand's public markets. "It further diversifies the
investment opportunities available for New Zealanders on NZX, this time in
early childhood education, and also demonstrates that our capital markets are
helping New Zealand businesses to raise capital to execute their growth
strategies."

Evolve Education's shares trade under the code EVO on the NZX Main Board and
the ASX. Goldman Sachs New Zealand Limited acted as sole bookrunner, arranger
and underwriter to the offer. In addition, Goldman Sachs New Zealand Limited
and Forsyth Barr Limited were Joint Lead Managers to the offer.

Enquiries:
Geoff Senescall
Senescall Akers Limited
M: 021 481 234
E: [email protected]
End CA:00258566 For:EVO    Type:LISTING    Time:2014-12-05 11:00:05