JGL Announces Institutional Placement

JGL announces the successful completion of Johns Lyng Group Limited's institutional placement, raising AU$65 million. The placement received strong support from both existing shareholders and new investors. Approximately 12.5 million new shares were issued at a price of AU$5.15 per share, representing a 5.2% discount to the previous closing price. Settlement of the new shares is expected to occur on July 10, 2023, with trading commencing on July 11, 2023. The raised funds will be used to acquire Project Safety Holdings Pty Ltd and Link Fire Holdings Pty Ltd. Additionally, eligible shareholders will have the opportunity to participate in the non-underwritten Share Purchase Plan to raise a maximum of AU$5 million.

The purpose of the recent institutional placement completed by Johns Lyng Group (JLG) was to raise a total of AU$65 million. The placement received strong support from existing shareholders and new investors. The proceeds raised from the placement, along with a pending Share Purchase Plan (SPP), will be used by JLG to acquire 100% of Project Safety Holdings Pty Ltd (Smoke Alarms Australia) and 70% of Link Fire Holdings Pty Ltd (Linkfire) for total upfront cash consideration of AU$61.8 million. This placement aims to fund the acquisitions and associated transaction costs, allowing JLG to continue its track record of successfully executing and integrating acquisitions.

The proceeds from the institutional placement by Johns Lyng Group (JLG) will be used to acquire 100% of Project Safety Holdings Pty Ltd ("Smoke Alarms Australia" or "SAA") and 70% of Link Fire Holdings Pty Ltd ("Linkfire"). These acquisitions will involve a total upfront cash consideration of AU$61.8 million, along with associated transaction costs and post-Completion purchase price adjustments. There is also a potential additional earn-out payment of up to AU$17.25 million in relation to these acquisitions.

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