SKO
21/01/2016 08:30
SPP
NOT PRICE SENSITIVE
REL: 0830 HRS Serko Limited
SPP: SKO: Announcements relating to Share Purchase Plan
Serko Limited - Share Purchase Plan Open
Serko Limited (SKO), is pleased to offer eligible shareholders the
opportunity to participate in Serko's Share Purchase Plan (SPP). The offer
opens today (21 January 2016) and closes on 12 February 2016.
Eligible shareholders are all persons who are recorded in Serko's share
register at 5.00pm on 14 January 2016 as being a holder of Serko shares and
having an address in New Zealand (Eligible Shareholders).
The SPP is part of Serko's equity raising initiative announced on 21 December
2015, whereby Serko announced that it had undertaken a targeted placement of
NZ$8.0 million to institutional and other qualified investors at a price of
NZ$0.84 per share (the Placement). The SPP is capped at NZ$1.0 million in
total to take the total capital raising to a maximum of NZ$9.0 million. The
Placement and SPP will provide Serko with further capital to invest in its
growth strategy, including to:
oFund the rollout of Serko's new product aimed at small and medium-sized
businesses (SMEs).
oInvest in increased brand support and raise product awareness.
oIncrease marketing spend to support its reseller network.
oPursue revenue growth to achieve Serko's short-term goal of reaching
cash-flow break-even.
The Serko Board considers that it is important to offer an SPP to all
Eligible Shareholders of Serko to enable them to participate in the capital
raising and acquire new Serko shares. Each Eligible Shareholder may elect to
subscribe for up to NZ$15,000 of Serko shares (being the maximum amount
currently permitted under the NZX Main Board Listing Rules), in share parcels
which are multiples of NZ$1,000, subject to scaling.
The price payable in the SPP will be NZ$0.84 per share, being the price paid
by investors in Serko's recent Placement. The SPP provides Eligible
Shareholders the opportunity to purchase additional shares in Serko without
incurring brokerage or other transaction costs.
Eligible Shareholders can find details of the SPP, including terms and
conditions of the offer and an explanation of how to participate, in the SPP
document and application form which have been lodged with NZX and will be
sent to each Eligible Shareholder. If the total demand for shares under the
SPP exceeds NZ$1.0 million, applications will be scaled back on a
proportionate basis in accordance with the number of Serko shares held by the
applicant on the record date (being 5:00pm on 14 January 2016).
ENDS
For investor relations queries please contact:
Tim Bluett, Chief Financial Officer, Serko
+64 9 309 4754
[email protected]
About Serko
Serko is Australasia's leading online travel booking and expense management
company for businesses and is listed on the New Zealand Stock Exchange Main
Board (SKO.NZ). With its HQ in Auckland New Zealand, and with offices in
Sydney Australia, Xi'an City China and Gurgaon India. Serko employs more than
130 people worldwide.
Serko Online is an integrated Online Booking Tool (OBT) used by
administrators and travellers to book flights, accommodation and car hire
from the broadest possible set of travel providers. The OBT ensures that
travel bookings comply with corporate travel management policy without
limiting the users choice of travel provider.
Visit www.serko.com for more information
End CA:00276625 For:SKO Type:SPP Time:2016-01-21 08:30:24
