Ann: PLACE: GEO: Geo completes Placement and announces key investors

• Release Date: 24/09/15 09:00
• Summary: PLACE: GEO: Geo completes Placement and announces key investors
• Price Sensitive: No
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					GEO
24/09/2015 09:00
PLACE
PRICE SENSITIVE
REL: 0900 HRS GeoOP Limited

PLACE: GEO: Geo completes Placement and announces key investors

GEOOP LIMITED (NZX:GEO)
Thursday, 24 September 2015

Geo completes Placement and announces Ryder Capital and Kestrel Capital as
key investors

On 24 August 2015, the Board of GeoOp Limited ("Geo") announced a placement
of approximately NZ$2.4 million at NZ$0.48 per share, primarily from new
strategic investors based off-shore (the "Placement").

Geo has now received all funds from the Placement, in cash, and today has
allotted 5,110,583 new ordinary Geo shares and 1,703,528 warrants to the
Placement participants at NZ$0.48.  Geo now has 32,722,258 ordinary shares on
issue plus 1,703,528 warrants. This is before the completion of the share
purchase plan ("SPP"), which is currently open for all eligible Geo
shareholders and closes on Friday, 25 September 2015.

Geo announces that Ryder Capital Ltd ("Ryder Capital") and Kestrel Capital
Pty Limited ("Kestrel Capital") were two of the Australian participants in
the Placement. There were also other off-shore and domestic value adding and
technology investors in the Placement.

Ryder Capital
Ryder Capital is a specialist small-cap, high conviction, value fund based in
Australia.

Ryder Capital will become one of Geo's largest shareholders, holding
3,125,000 ordinary Geo shares, for a 9.55% shareholding (plus 1,041,667
warrants) before completion of the SPP.

Ryder Investment Management Pty Ltd is a major shareholder in a number of ASX
listed companies that can potentially provide Geo with connections to a
number of trades and services contractors in Australia.

Kestrel Capital
Kestrel Capital is a venture capital and investment fund in Australia. It
has a range of investments in growth technology companies across Australasia
and the USA. Kestrel Capital is also a shareholder in Tru-Test Group in New
Zealand, which provides farming productivity equipment and software
solutions.

One of Kestrel Capital's technology investments includes a strategic holding
in ComOps Pty Ltd ("ComOps"), which is an Australian listed mid to large
enterprise workforce management solutions company, with clients in the global
ports, security, transport, health, mining, government, retail and
hospitality sectors.

Kestrel Capital understands the large market opportunity that exists for Geo
in the small to medium sized entity mobile workforce management space, given
its investment in ComOps.

The new investors in the Placement will provide Geo with patient expansion
capital while broadening and deepening Geo's investor base.  Geo will also be
able to leverage the new investors' market and industry networks, where
appropriate, to assist Geo achieve its medium and longer term strategic
objectives.

The Placement (including the warrant) raised the maximum allowable under the
NZAX Listing Rules, without requiring shareholder approval.

Share Purchase Plan
The SPP provides an opportunity for Geo's eligible shareholders (around 1,500
in total) who were on the Geo share register on 4 September 2015 to also
participate in the capital raising.  The SPP offer document was sent to Geo
shareholders on 8 September 2015 and closes at 5.00pm on Friday, 25 September
2015.

-- ends --

For more information please contact:
Stewart Reynolds
Chief Financial Officer and Company Secretary
Mobile: +64 (0) 21 247 2964
Email: [email protected]

About GeoOp Limited:  www.geoop.com
GeoOp Limited is a New Zealand-based software company that offers complete
mobile workforce management to businesses all over the world and it's neatly
wrapped into a low cost, easy to use service with premium support.
GeoOp supports businesses in their journey to find more time for the
important things; providing intuitive software for devices that are already
in the hands of field workers.
End CA:00270664 For:GEO    Type:PLACE      Time:2015-09-24 09:00:55