Entitlement Offer Update
Entitlement Offer Update
Bendigo, May 30, 2022 AEST (ABN Newswire) - Apiam Animal Health Limited (ASX:AHX) is pleased to announce it has successfully completed the institutional component of the accelerated entitlement offer (Institutional Entitlement Offer), as announced to the ASX on 26 May 2022. The Institutional Entitlement Offer forms part of Apiam's 1 for 4.8 pro-rata non-renounceable entitlement offer to eligible shareholders (Entitlement Offer).

Shaw and Partners Limited (ACN 003 221 583) (Shaws) and Morgans Corporate Limited (ACN 010 669 726) (Morgans) acted as Joint Lead Managers and Underwriters to the Entitlement Offer.

Institutional Entitlement Offer

Under the Institutional Entitlement Offer, Apiam has received binding commitments to raise $11.9 million through the issue of 17.0 million new fully paid ordinary shares at an issue price of $0.70 per share.

The Institutional Entitlement Offer was strongly supported by a number of high quality existing and new institutional investors.

Dr Chris Richards, Apiam's Managing Director commented "we are very pleased with the strong support in the institutional component of the entitlement offer from existing and new institutional shareholders endorsing our planned growth strategy. We look forward to executing on further growth opportunities and business initiatives in the months ahead".

Apiam's Managing Director subscribed for $4.5 million of his pro-rata allocation under the Entitlement Offer.

Fully underwritten Retail Entitlement Offer

Eligible retail shareholders will be invited to participate in the retail component of the Entitlement Offer (Retail Entitlement Offer) at the entitlement offer price of $0.70 per Apiam share.

Under the Retail Entitlement Offer, shareholders are invited to subscribe for 1 new Apiam share for every 4.8 shares held as at the record date of 30 May 2022. Full terms and conditions will be set out in the retail offer book sent to eligible shareholders (with a registered address in Australian or New Zealand).

The Retail Entitlement Offer is fully underwritten by the Joint Lead Managers.

Funds raised from the Entitlement Offer will be used to support Apiam's accelerated growth strategy as well as debt repayment. Apiam recently announced the acquisition of two high-growth Victorian veterinary clinics - Victorian Equine Group and Romsey Veterinary Surgery. The Company has also identified additional strategic opportunities within other fast-growing regional veterinary markets.

Further details of the Entitlement Offer and Apiam's accelerated growth strategy are set out in the Investor Presentation provided to the ASX on Thursday 26 May 2022.

To view the Key dates for the Retail Entitlement Offer, please visit:

About Apiam Animal Health Limited

Apiam Animal Health LimitedApiam Animal Health Limited (ASX:AHX) is comprised of Australia's leading Production Animal and Mixed Animal veterinary practices. Apiam Animal Health incorporates over 150 highly experienced, industry leading veterinarians with expertise across the pig, dairy, feedlot, sheep, poultry, equine, and companion animal sectors, supported by an experienced administration, nursing, technical services and ancillary team. Apiam Animal Health is fully vertically integrated, including having veterinary wholesale, diagnostics laboratories, custom vaccines, logistics, and other ancillary services.



Dr Chris Richards
Managing Director
Apiam Animal Health Limited
E: chris@apiam.com.au

Catherine Ross
Investor Relations
E: catherine.ross@apiam.com.au
T: 0421 997 481

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