24 Nov

Retail entitlement offer information booklet

Sovereign Cloud Holdings Limited ( A C N 622 728 189 ) Retail Entitlement Offer s 4 for 11 pro - rata accelerated non - renounceable entitlement offer of fully paid ordinary shares in the Company at an O ffer P rice of $ 0. 50 per New Share. The Retail Entitlement O ffer closes at 5.00pm (Sydney time) on 13 December 2021 . NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES This Offer Booklet requires your immediate attention. It is an important document which is accompanied by a personalised E ntitlement and A cceptance F orm and both should be read in their entirety. This Offer Bookle t is not a prospectus under the Corporations Act and has not been lodged with ASIC . Please call your stockbroker, solicitor, accountant , financial adviser or other professional adviser or the Offer i nformation l ine on 1300 222 378 (within Australia) or +61 1300 222 378 (outside Australi a) from 8.30am to 5.30pm (Sydney time) Monday to Friday . IMPORTANT NOTICE S Defined terms and abbreviations used in this Offer Booklet are set out in the glossary in Section 7 . NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES. This Offer Booklet has been prepared and issued by Sovereign Cloud Holdings Limited (ACN 622 728 189 ) ( Company ) and is dated 29 November 2021 . This Offer Booklet relates to the Retail Entitlement Offer which is part of the e ntitlement o ffer by the Company of New Shares to raise gross proceeds of approximately $ 18.6 million. The Entitlement Offer is being made in Australia pursuant to section 708AA of the Corporations Act ( as notionally modified by ASIC Corporations (Non - Traditional Rights Issues) Instrument 2016/84 and ASIC Corporations (Disregarding Technical Relief) Instrument 2016/73) , which allo w entitlement offers to be made to investors without a prospectus ) . This Offer Booklet does not contain all of the information which an investor may require to make an informed investment decision, nor does it contain all the information which would be required to be disclosed in a prospectus, product disclosure statement or other disclosure document under the Corporations Act. The information in this Offer Booklet does not constitute financial product advice and does not take into account your investment objectives, financial situation or particular needs. This Offer Book let should be read in its entirety before you decide to participate in the Retail Entitlement Offer. This Offer Booklet is not a prospectus, product disclosure statement or other disclosure document under the Corporations Act and has not been lodged with ASIC. As this offer is not being made under a prospectus, investment statement or product disclosure statement, it is important for Eligible Retail Shareholders to read carefully and understand this Offer Booklet and the information about the Company and t he Entitlement Offer that is made publicly available. In particular, please refer to the materials in this Offer Booklet (including the Company 's I nvestor P resentation in Section 5 ) , the Company 's annual reports and other ASX announcements made available at www.australiacloud.com.au (incl uding the Company's 20 2 0 - 2021 annua l report which was released to ASX on 17 September 202 1 ) , and other ASX ann ouncements which may be made by the Company after publication of this Offer Booklet. By paying for your New Shares through BPAY® in accordance with the instrum ents on your personalised E ntitlement and A cceptance F orm, you acknowledge that you have read this Offer Booklet and you have acted in accordance with and agree to the terms of the Retail Entitlement Offer detailed in this Offer Booklet. None of the Joint Lead Manager s , nor their related bodies corporate or affiliates, nor any of their respective directors, officers, partners, employees, representatives, contractors, consultants, agents or advisers (together , the Joint Lead Manager Parties ) has authorised, permitted or caused the issue or lodgement, submission, despatch or provision of this Offer Booklet and there is no statement in this Offer Booklet which is based on any statement made by the Joint Lead Manager s or by any Joint Lead Manager Party. To the maximum extent permitted by law, each Joint Lead Manager Party expressly disclaims all duties and liabilities (including for fault, negligence and negligent misstatement) in respect of, and makes no representations or warranties regarding, and takes no res ponsibility for, any part of this Offer Booklet or any action taken by you on the basis of the information in this Offer Booklet, and makes no representation or warranty as to the fairness, currency, accuracy, reliability or com pleteness of this Offer Book let. No overseas offering This Offer Booklet (including the Company's I nvestor P resentation included as part of it) and the accompanying E ntitlement and A cceptance F orm do not constitute an offer or invitation in any place in which, or to any person to whom, it would not be lawful to make such an offer or invitation. In particular, this Offer Booklet does not constitute an offer to Ineligible Retail Shareholders and may not be distributed in the United States and the New Shares may not be offered or sold, directly or indirectly, to persons in the United States. This Offer Booklet is not to be distributed in, and no offer of New Shares is to be made, in countries other than Australia , New Zealand and (subject to this Offer Booklet) the United Kingdom unless the Company , in its discretion, is satisfied that the Retail Entitlement Offer may be made in compliance with all applicable laws. No action has been taken to regist er or qualify the Retail Entitlement Offer, the Entitlements or the New Shares, or otherwise permit the public offering of the New Shares, in any jurisdiction other than Australia , New Zealand and (subject to this Offer Booklet) the United Kingdom . The dis tribution of this Offer Booklet (including an electronic copy) outside Australia , New Zealand and (subject to this Offer Booklet) the United Kingdom , is restricted by law. If you come into possession of the information in this booklet, you should observe such restrictions and should seek your own advice on such restrictions. Any non - compliance with these restrictions may contravene applicable securities laws. Foreign exchange control restrictions or restrictions on remitting funds from your country to Australia may apply. Your Application for New Shares is subject to all requisite authorities and clearances being obtained for the Company to lawfully receive yo ur Application Monies. New Zealand The New Shares are not being offered or sold to the public within New Zealand other than to existing S h areholders with registered addresses in New Zealand to whom the offer of New Shares is being made in reliance on the F inancial Markets Conduct Act 2013 (N Z ) and the Financial Markets Conduct (Incidental Offers) Exemption Notice 2016 ( NZ ). This Offer Booklet has been prepared in compliance with Australian law and has not been registered, filed with or approved by any New Z ealand regulatory authority under the Financial Markets Conduct Act 2013 ( NZ ). This Offer Booklet is not an investment statement or prospectus under New Zealand law and is not required to, and may not, contain all the information that an investment statem ent or prospectus under New Zealand law is required to contain. United States disclaimer This Offer Booklet , the accompanying E ntitlement and A cceptance F orm , and any accompanying ASX A nnouncements (including the Company's I nvestor P resentation included as part of this Offer Booklet) do not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United States. Neither this Offer Booklet nor the accompanying E ntitlement and A cceptance F orm may be distributed o r released in the United States. Neither the Entitlements nor the New Shares offered in the Retail Entitlement Offer have been, or will be, registered under the US Securities Act or the securities laws of any state or other jurisdiction of the United States. Accordingl y, the Entitlements may not be taken up by, and the New Shares may not be offered, sold or resold to persons in the United States or persons who are acting for the account or benefit of a person in the United States unless they have been registered under t he US Securities Act or offered or sold in a transaction exempt from, or not subject to, the registration requirements of the US Securities Act and any other applicable US state securities laws. The Entitlements and the New Shares to be offered and sold i n the Retail Entitlement Offer may only be offered and sol d outside the United States in ' offshore transactions ' (as defined in Rule 902(h) under the US Securities Act) in compliance with Regulation S under the US Securities Act. United Kingdom Neither the information in this Offer Booklet, nor any other document relating to the Equity Raising, has been delivered for approval to the Financial Conduct Authority in the United Kingdom and no prospectus (within the meaning of section 85 of the Financ ial Services and Markets Act 2000 , as amended ) has been published or is intended to be published in respect of the New Shares. In the United Kingdom, this Offer Booklet is being distributed only to, and is directed at, persons: (a) who fall within Article 43 (members or creditors of certain bodies corporate) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 , as amended; or (b) to whom it may otherwise be lawfully communicated (together, Relevant Persons ). The investments to wh ich this Offer Booklet relates are available only to, and any invitation, offer or agreement to purchase will be engaged in only with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this Offer Booklet or any of its con tents. References to "you" and "your Entitlement" In this Offer Booklet, references to "you" are references to Eligible Retail Shareholders (as defined in Section 1.4 ) and references to "your Entitlement" (or "your E ntitlement and A cceptance F orm") are references to the Entitlement (or E ntitlement and A cceptance F orm) of Eligible Retail Shareholders. Times and dates Times and dates in this Offer Booklet are indicative only and may be subject to change. All times and dates refer to Sydney time. Refer to the "Key Dates" section of this Offer Booklet for more details. Currency Unless otherwise stated, all dollar values in this Offer Booklet are in Australian dollars (AU D). Privacy The Company collects information about each applicant provided on an E ntitlement and A cceptance F orm for the purposes of processing the application and, if the application is successful, to administer the applicant’s holding in the Company . By paying for your New Shares, you will be providing personal information to the Company (directly or through the Company's S hare R egistry ). The Company collects, holds and will use that information to assess your application. The Company collects your p ersonal information to process and administer your shareholding in the Company and to provide related services to you. The Company may disclose your personal information for purposes related to your shareholding in the Company , including to the Company's S hare R egistry , the Company 's related bodies corporate, agents, contractors and third party service providers, including mailing houses and professional advisers, and to ASX and regulatory bodies. You can obtain access to personal information that the Com pany holds about you. To make a request for access to your personal information held by (or on behalf of) the Company , please contact the Company through the Company's S hare R egistry. Governing law This Offer Booklet, the Retail Entitlement Offer , and the contracts formed on acceptance of the E ntitlement and A cceptance F orms are governed by the laws applicable in Queensland, Australia. Each applicant submits to the non - exclusive jurisdiction of the courts of Queensland, Australia and co urts compet ent to hear appeals from those courts . Future performance and forward - looking statements This Offer Booklet contains certain "forward - looking statements", including but no t limited to projections and guida nce on the future performance of the Company and t he outcome and effects of the Entitlement Offer. Forw ard - looking statements can generally be identified by the use of forward - looking words such as "expect'', "anticipate", "likely'', "intend", "propose", "should", "could", "may", "predict", "plan", "will", "believe", "forecast", "estimate", "target", "outlook", "guidance", "potential", and other similar expressions within the meaning of securities laws of applicable jurisdictions. The forward - looking statements contained in this Offer Booklet are n ot guarantees or predictions of future performance and involve known and unknown risks and uncertainties and other factors, many of which are beyond the control of the Company , its Directors and management, and may involve significant elements of subjectiv e judgement and assumptions as to future events which may or may not be correct. Refer to the "Key Risk Factors " section of the Company 's I nvestor P resentation included in Section 5 for a summary of certain general and Company specific risk factors that may affect the Company . There can be no assurance that actual outcomes will not differ materially from these forward - looking statements. A number of important factors could cause actual results or performance to differ materially from the forward - looking statements, including one or more of the key risk factors in Section 5 . Investors should consider the forward - looking statements contained in this Offer Booklet in light of those disclosures. The forward - looking statements are based on information available to the Company as at the date of this Offer Booklet. Except as required by law or regulation (including the ASX Listing Rules), the Company undertakes no obligation to provide any additional or updated information whether as a result of new information, future events or results or otherwise. Indic ations of, and guidance or outlook on, future earnings or financial position or performance are also forward - looking statements. Past performance Investors should note that past performance, including the past s hare price performance of the Company and the pro forma historical information in the Company 's I nvestor P resentation included in Section 5 , is given for illustrative purposes only and cannot be relied up on as an indicator of (and provides no guidance as to) future Company performance including future share price performance. The pro forma historical information is not represented as being indicative of the Company ' s views on its future financial conditio n and/or performance. Risks Refer to the "Key Risk Factors" section of the Company's I nvestor P resentation included in Section 5 for a summary of certain risk factors that may affect the Company . Trading in New Shares The Company , the Joint Lead Manager s , and their respective affiliates and related bodies corporate have no responsibility and disclaim all liability (to the maximum extent permitted by law) to persons who trade New Shares they believe will be issued to them before they receive their holding statements, whether on the basis of confirmation of the allocation provided by the Company or the Company 's S hare R egistry or failure to maintain your updated details with the Company 's S hare R egistry or otherwise, or who otherwise trade or purport to trade New Shares in error or which they do not hold or are not entitled to. If you are in any doubt as to these matters you should first consult with your stockbroker, solicitor, accountant , financial adv iser or other professional adviser. Refer to Section 6 for details. Table of contents LETTER FROM THE CHAIR 2 SUMMARY OF THE E NTITLEMENT OFFER 4 KEY DATES 4 1. OVERVIEW OF THE ENTITLEMENT OFFER 6 2. SUMMARY OF OPTIONS AVAILABLE TO YOU 8 3. HOW TO APPLY 9 4. AUSTRALIAN TAX CONSIDERATIONS 16 5. ASX ANNOUNCEMENTS AND INVESTOR PRESENTATION 19 6. ADDITIONAL INFORMATION 20 7. GLOSSARY 29 2 LETTER FROM THE CHAIR 29 November 2021 Dear Shareholder I am pleased to invite you to participate in a fully underwritten 4 for 11 pro - rata accelerated non - renounceable entitlement offer of new fully paid ordinary shares in the Company ( New Shares ) at an offer price of $ 0.50 per New Share ( Offer Price ) to raise gross proceeds of approximately $ 22. 6 million ( Entitlement Offer ). The Company is c onducting a n equity raising to raise approximately $ 35 million through: ? a placement to NEXTDC Ventures Holdings No. 1 Pty Ltd (ACN 655 243 057 ) ( N EXT DC ) ( Placement ) ; and ? the Entitlement Offer , ( together, the Equity Raising ). The proceeds of the Equity Raising will largely be deployed to assist with funding working capital and growth capital expenditure requirements associated with scaling the Company to critical mass, together with investing in new cloud platforms in Brisbane , Melbourne and Adelaide , as well as transaction costs . For further information about the E quity Raising, please refer to the Company's I nvestor P resentation lodged with ASX on 22 November 2021 (and included in this Offer Booklet in Section 5 ). The Placement was successfully completed on 22 November 2021 and the institutional component of the Entitlement Offer ( Institutional Entitlement Offer ) w as successfully completed on 2 3 November 2021 . The Placement and the Institutional Entitlement Offer t ogether raised approximately $ 16.4 million. The Institutional Entitlement Offer was strongly supported by existing institutional shareholders of the Company . This Offer Booklet relates to the retail component of the Entitlement Offer ( Retail Entitlement Offer ). Under the Retail Entitlement Offer, E ligible Retail S hareholders are entitled to acquire 4 New Share s for every 11 S hare s held at 7.00pm ( Sydney time) o n 24 November 2021 ( Rec ord Date ) ( Entitlement ). Your Entitlement is set out in your personalised E ntitlement and A cceptance F orm which accompanies this Offer Booklet. It is important that you determine whether to take up in whole or part, or do nothing, in respect of your Entitlement (s ee Section 2 ). Eligible Retail Shareholders have the opportunity to invest at the Offer P rice of $ 0.50 per New Share, which is the same price as N EXT DC who participated in the Placement and the Eligible I nstitutional Shareholders who participated in the Institutional Entitlement Offer. The Offer Price represents a n 18.0 % discount to the closing price of S hares on 19 November 2021 (being the last trading day before announcement of the Equity Raising), and a n 11.4 % discount to the TERP of $ 0.56 . 1 New Shares issued through the Retail Entitlement Offer will rank equally with existing S hares on issue . 1 The TERP is the theoretical price at which Shares should trade immediately following the ex - date for the Entitlement Offer assuming 100% take up of the Entitlement Offer. The TERP is a theoretical calculation only and the actual price at which Shares trade immedi ately following the ex - date for the Entitlement Offer will depend on many factors and may not be equal to the TERP. The TERP is calculated by refer ence to the Company’s closing price of $ 0.61 per Share on 19 November 2021, being the last trading day prior to the announcement of the Equity Raising. The TERP includes the new Shares issued under the Placement. 3 The Retail Entitlement Offer is fully underwritten by Morgans Corporate Limited (ACN 010 539 607 ) ( Morgans ) and Canaccord Genuity (Australia) Limited (ACN 075 071 466) ( Canaccord ) ( together, the Joint Lead Managers ). Entitlements under the Entitlement Offer are non - renounceable and will not be tradeable on ASX or otherwise transferable. If you do not take up your Entitlement in full, you will not receive any value in respect of that part of the Entitlement that you do not take up. The Retail Entitlement Offer closes at 5.00pm (Sydney tim e) on 13 December 2021 . If you would like to exercise your Entitlement to increase your shareholding in the Company , you will need to complete and return your personalised Entitlement and Acceptance Form together with the requisite Application Monies, or alternatively pay your Application Monies using BPAY ® , so th at they are received by the Company's S hare R egistry by 5.00pm (Sydne y time) on 13 December 2021 . Please carefully read this Offer Booklet in its entirety and consult your stockbroker, solicitor, accountant, financial adviser or other professional adviser before making your investment decision. In particular, you should read and consider the "Key Risk Factor s" section of the Company's I nvestor P resentation included in Section 5 which contains a summary of some of the key risks associated with an investment in the Company . If you have any questions in respect of the Retail Entitlement Offer, please call the Offer i nformation l ine on 1300 222 378 (within Australia) or +61 1300 222 378 ( outside Australia) from 8.30am to 5.30pm (Sydney time) Monday to Friday. On behalf of the Board and management team of the Company, I invite you to consider this investment opportunity and thank you for your ongoing support. Yours faithfully Cath ie Reid Chair Sovereign Cloud Holdings Limited 4 SUMMARY OF THE ENTITLEMENT OFFER Ratio 4 New Share s for every 11 existing S hare s held Offer Price for New Shares $ 0.50 per New Share Size Approximately 45.3 million New Shares Gross proceeds Approximately $ 22. 6 million KEY DATE S Event Date Announcement of the Equity Raising Monday, 22 November 2021 Allotment of new Shares under the Placement Monday, 22 November 2021 Institutional Entitlement Offer conducted Monday, 22 November 2021 and Tuesday, 23 November 2021 Announcement of results of the Institutional Entitlement Offer Wednesday, 24 November 2021 Record d ate for Entitlement Offer (7.00pm (Sydney time)) ( Record Date ) Wednesday, 24 November 2021 Quotation of new S hares issued under the Placement Thursday, 25 November 2021 Offer Booklet and personalised E ntitlement and A cceptance F orms despatched, and announcement of despatch Monday, 29 November 2021 Retail Entitlement Offer opens Monday, 29 November 2021 Settlement of the Institutional Entitlement Offer Tuesday, 30 November 2021 Allotment of n ew S hares un der the Institutional Entitlement Offer Wednesday, 1 December 2021 Quotation of new S hares issued under the Institutional Entitlement Offer Thursday, 2 December 2021 Last day to extend the C losing D ate for the Retail Entitlement Offer Wednesday, 8 December 2021 C los ing D ate for the Retail Entitlement Offer (5.00pm (Sydney time)) 2 Monday, 13 December 2021 Announcement of r esu lts of Retail Entitlement Offer Thursday, 16 December 2021 2 Eligible Retail Shareholders who wish to take up all or a part of their Entitlement must co mplete and return their personalised E ntitlement and A cce ptance F orm with the requisite A pplication Monies or pay their Applicati on Monies via BPAY ® by following the instructions set out on the personalised E ntitlement and A cceptance F orm so that they are received by the Company 's S hare R egistry by no later than 5.00pm (Sydney time) on 13 December 2021. Eligible Retail Shareholders should refer to Section 2 for options available to them to deal with their Entitlement. 5 Event Date Settlement of the Retail Entitlement Offer Friday, 17 December 2021 Allotment of New Shares issued under the Retail Entitlement Offer Monday, 20 December 2021 Normal trading on ASX for New Shares issued under the Retail Entitlement Offer commences Tuesday, 21 December 2021 Despatch of holding statements for New Shares issued under the Retail Entitlement Offer Wednesday, 22 December 2021 The timetable above is indicative only and may change. The Company may amend any of these dates and times without notice, subject to the Corporations Act , the ASX Listing Rules and other applicable laws. In particular, the Company reserves the right to extend the C losing D ate, to accept late applications under the Retail Entitlement Offer (either generally or in particular cases) and to withdraw the Retail Entitlement Offer without prior notice. Any extension of the C losing D ate wi ll have a consequential effect on the issue date of New Shares. The commencement of quotation of New Shares is subject to confirmation from ASX. Cooling off rights do not apply to an investment in New Shares. You cannot withdraw your application once it has been accepted. Eligible Retail Shareholders wishing to participate in the Retail Entitlement Offer are encouraged to submit their E ntitlement and A cceptance F orm as soon as possible after the Retail Entitlement Offer opens to ensure their application is received by the Company 's S hare R egistry in time . Enquiries If you have any questions, please contact the Offer i nformation l ine on 1300 222 378 (within Australia) or +61 1300 222 378 (outside Australia) from 8.30am to 5.30pm (Sydney time), Monday to Friday. If you have any further questions, you should contact your stockbroker, solicitor, accountant , financial adviser or other professional adviser. 6 1. OVERVIEW OF THE ENTITLEMENT OFFER 1.1 Entitlement Offer The Entitlement Offer is an offer of approximately 45.3 million New Shares at the Offer Price of $ 0.50 per New Share, to raise approximately $ 22. 6 million. All Eligible Share holder s are entitled to subscribe for 4 New Share s for every 11 Shares held at the Record Date, being 7.00pm (Sydney time) on 24 November 2021 . The proceeds of the Entitlement Offer will largely be deployed to assist with funding working capital requirements associated with scaling the Company to critical mass, together with investing in new cloud platforms in Brisbane , Melbourne and Adelaide , as well as for the other purposes disclosed in the Company’s announcements released to ASX on 22 November 2021 . The Entit lement Offer has two components, including: ? the Institutional Entitlement Offer - Eligib le Institutional Shareholders were given the opport unit y to take up all or part of their Entitlement, and a bookbuild process to sell Entitlements not taken up was carried out, which raised approximately $ 4.0 million; and ? the Retail Entitlement Offer (to which this Offer Booklet relates) - Eligible Retail Shareholders will be given the opport unit y to take up all or part of their Entitlement to raise approximately $ 18.6 million. Eligible Retail Shareholders who take up their full Entitle ment may also participate in the t op - u p f acility ( Top - Up Facility ) by applying for additional New Shares in excess of their Entitlement at the Offer Price, up to a maximum of 50 % in excess of their Entitlement. Both the Institutional Entitlement Offer and the Retail Entitlement Offer are non - renounceable. Accordingly, E ntitlements do not trade on ASX nor can they be sold, transferred or otherwise disposed of. New Shares issued under the Retail Entitlement Offer are to be issued at the same price as New Sh ares issued under the Institutional Entitlement Offer. In addition, Shareholders' Entitlements under the Institutional Entitlement Offer and the Retail Entitlement Offer are calculated based on the same ratio. The Entitlement Offer is fully underwritten b y the Joint Lead Managers in accordance with the terms of the Underwriting Agreement (see Section 6.13 for more details). 1.2 Institutional Entitlement Offer and Placement The Company has already raised approximately $ 4.0 million from Eligible Institutional Shareholders as part of the Institutional Entitlement Offer, at the Offer Price. New Shares are expected to be issued under the Institutional Ent itlement Offer on 1 December 2021 . Concurrently with the Institutional Entitlement Offer, the Company undertook a Placement under which approximately 24.9 million n ew Shares were offered to N EXT DC at the Offer Price per n ew Share, raising approximately $ 12. 4 million. New Shares were issued under the Placement on 22 November 2021 . 1.3 Retail Entitlement Offer Under the Retail Entitlement Offer, Eligible Retail Shareholders (as defined in Section 1.4 ) are being offered the opportunity to subscribe for a ll or part of their Entitlement, being 4 New Share s for every 11 existing Shares held as at the Record Date, being 7.00pm (Sydney time) on 24 November 2021 , at the Offer Price of $ 0.50 per New Share. 7 The Retail Entitlement Offer opens on 29 November 2021 . The Offer Booklet will be despatched on that same date , along with a personalised Entitlement and Acceptance Form, to Eligible Retail Shareholders. The Retail Entitlement Offer is expected to close at 5.00pm (Sydney time) on 13 December 2021 . The Retail Entitlement Offer is being made pursuant to section 708AA of the Corporations Act (as modified by ASIC Corporations (Non - Traditional R ights Issues) Instrument 2016/84 and ASIC Corporations (Disregarding Technical Relief) Instrument 2016/73) which allows the Entitlement Offer to be offered without a prospectus, provided certain conditions are satisfied. As a result, the Retail Entitlemen t Offer is not being made under a prospectus and it is important for Eligible Retail Shareholders to read and understand the information on the Company and the Retail Entitlement Offer made publicly available by the Company , prior to taking up all or part of their Entitlement. In particular, please refer to the materials enclosed in Section 5 , the Company 's interim and annual reports, other announcements made available at www2.asx.com.au (including the Company's 2020 - 2021 annual report which was released to ASX on 17 September 2021 ) and all other parts of this Offer Booklet carefully before making any deci sions in relation to your Entitlement. 1.4 Eligible Retail Shareholders The Retail Entitlement Offer constitutes an offer to Eligible Retail Shareholders only, being Shareholders who: ? are registered as a holder of Shares as at the Record Date, being 7.00pm (Sy dney time) on 24 November 2021 ; ? as at the Record Date, have a registered address on the Company 's Share register that is in Australia , New Zealand or the United Kingdom , or are a Shareholder that the Company has otherwise determined is eligible to participate; ? are not in the United States and are not acting for the account or benefit of a person in the United States (to the extent such person holds Shares for the account or benefit of such person in the United States); ? were not invited to participat e in the Institutional Entitlement Offer and were not treated as an Ineligible Institutional Shareholder ; and ? are eligible under all applicable securities laws to receive an offer under the Entitlement Offer. All Shareholders who are not Eligible Retail Shareholders are Ineligible Retail Shareholders. Ineligible Retail Shareholders will not be entitled to participate in the Retail Entitlement Offer. The Company has determined that it would be unreasonable on t his occasion to extend the Retail Entitlement Offer to Ineligible Retail Shareholders, having regard to the number of Shares held by Ineligible Retail Shareholders, the number and value of New Shares that they would be offered, and the costs of complying w ith the legal and regulatory requirements which would apply to an offer of Shares. The Company , in its absolute discretion, reserves the right to determine whether a Shareholder is an Eligible Retail Shareholder and therefore able to participate in the Re tail Entitlement Offer, or an Ineligible Retail Shareholder and therefore unable to participate in the Retail Entitlement Offer. T o the maximum extent permitted by law , t he Company disclaims all liability in respect of such determination. 8 2. SUMMARY OF OP TIONS AVAILABLE TO YOU If you are an Eligible Retail Shareholder you may take any of the following actions: ? t ake up all of your Entitlement , and if you do so, you may also apply for additional New Shares under the Top - Up Facility ; ? take up part of your Entitlement and allow the balance to lapse, in which case you will receive no value for the lapsed part of your Entitlement ; or ? d o nothing and let all of your Entitlement lapse and you will receive no value for the lapsed Entitlement . If you are a S harehol der that is not an Eligible Retail Shareholder you are an Ineligible Retail Shareholder . Refer to S ection 3.9 for more detail on Ineligible Retail Shareholders. Options available to you Key considerations 1. Take up all of your Entitlement If you wish to take up all of your Entitlement, y ou may elect to purchase all of the New Shares at the Offer Price specified in your personalised E ntitlement and A cceptance F orm (see Section 3.5 for i nstructions on how to take up your Entitlement). The New Shares will rank equally in all respects with existing S hares . The Retail Entitlement Offer closes at 5 .00pm ( Sydney time) on 13 December 2021 . Eligible Retail Shareholders who take up their Entitlement in full can also apply for additional New Shares under the Top - Up Facility . 2. Take up part of your Entitlement If you wish to take up only part of your Entitlement, y ou may elect to purchase a lesser number of New Shares at the Offer Price , than the number of New Shares specified in your personalised E ntitlement and A cceptance F orm (see Section 3.5 for instructions on h ow to take up your Entitlement). The New Shares will rank equally in all respects with existing S hares . If you only take up part of your Entitlement, the relevant portion of your Entitlement will lapse and you will receive no benefit. Lapsed Entitlements will be subscribed for under the Top - Up Facility or by the Joint Lead Manager s or any sub - underwriters . The Retail Entitlement Offer closes at 5.00pm (Sydney time) on 13 December 2021 . 3. Do nothing and let all of your Entitlement lapse If you do nothing with respect to all of your Entitlement, your Entitlement will lapse and you will receive no benefit. These Entitlements will be subscribed for under the Top - Up Facility or by the Joint Lead Manager s or any sub - underwriters . By allowing your Entitlement to lapse, you will forgo any exposure to increases or decreases in the value of the New Shares had you taken up your Entitlement and you will not receive any value for your Entitlement . Although you will continue to own the same number of S hares, your percentage shareholding in the Company will be diluted. 9 3. HOW TO APPLY 3.1 Overview of the Retail Entitlement Offer Eligible Retail S hareholders are being offered the opportunity to purchase 4 New Share s for every 11 existing S hare s held as at the Record Date of 7.00pm ( Sydney time) on 24 November 2021 , at the Offer Price of $ 0.50 per New Share. You have a number of decisions to make in respect of your Entitlement. You should read this Offer Booklet carefully before making any decisions in relation to your Entitlement. The Retail Entitlement Offer is fully underwritten by the Joint Lead Manager s on the terms and conditions of the Underwriting Agreement (see Section 6.13 for more details) . Further details on the Retail Entitlement Offer are set out below. 3.2 Retail Entitlement Offer Under the Retail Entitlement Offer, Eligible Retail Shareholders are invited to apply for 4 New Share s for every 11 existing S hare s held as at the Record Date at the Offer Price of $ 0.50 per New Share. The Retail Entitlement Offer opens on 29 November 2021 and will close at 5 .00pm ( Sydney time) on 13 December 2021 . 3.3 Your Entitlement Your Entitlement is set out on the accompanying personalised E ntitlement and A cceptance F orm and has been calculated as 4 New Share s for every 11 existing S hare s you held as at the Record Date. If the result is not a whole number, your Entitlement will be rounded up to the nearest whole number of New Shares. If you have more than one registered holding of S hares, you will be sent more than one personalised E ntitlement and A cceptance F orm and you will have a separate Entitlement for each separate holding. New Shares issued under the Retail Entitlement Offer will be fully paid ordinary shares in the Company and will rank equally in all respects with existing S hares on issue . See Sections 6.1 and 6.12 for information on restrictions on participation. 3.4 Consider the Entitlemen t Offer carefully in light of your particular investment objectives and circumstances The Entitlement Offer is being made pursuant to provisions of the Corporations Act which allow entitlement offers to be made without a prospectus. This Offer Booklet does not contain all of the information which may be required in order to make an informed decision regardin g an application for New Shares offered under the Retail Entitlement Offer. As a result, it is important for you to read carefully and understand t he information on the Company and the Entitlement Offer made publicly available, prior to deciding whether to take up all or part of your Entitlement or do nothing in respect of your Entitlement. In particular, please refer to this Offer Booklet , your per sonalised E ntitlement and A cceptance F orm, the Company's 20 20 - 202 1 annual rep ort which was released to ASX on 17 September 202 1 , and other ASX announcemen ts made available at www.australiacloud.com.au (i ncluding announcements which may be made by the Company after publication of this Offer Booklet). Please consult with your stockbroker, solicitor, accountant , financial adviser or other professional adviser if you have any queries or are uncertain about any aspect of the Retail Entitlement Offer. You 10 should also refer to the " Key Risk Factor s " section of the Company 's I nvestor P resentation included in Section 5 . 3.5 Options available to you If you are an Eligible Retail Shareholder, you may take any of the following actions: ? t ak e up all of your Entitlement; ? t ake up part of your Entitlement and let the remainder lapse; or ? d o nothing and l et all of your Entitlement lapse. Eligible Retail Shareholders who do not participate fully in the Retail Entitlement Offer will have their percentage holding in the Company reduced . If you wish to take up all of your Entitlement , or take up all of your Entitlement and participate in the Top - Up Facility If you wish to take up all of your Entitlement, please either: ? complete and return the personalised E ntitlement and A cceptance F orm with the requisite Application Monies for all of the New Shares in your Entitlement ; or ? pay your Appl ication Monies for all of the New Shares in your Entitlement via BPAY ® by following the instructions set out on the personalised Entitlement and Acceptance Form , so that they are received by the Company's Share Registry by no later than 5.00pm (Sydney tim e) on 13 December 2021 . If you take up and pay for all your Entitlement before the Closing Date , it is expected that you will be issued New Shares on 20 December 2021 . The Company 's decis ion on the number of New Shares to be issued to you will be final. The Company also reserves the right (in its absolute discretion) to reduce the number of New Shares issued to Eligible Retail Shareholders , or persons claiming to be Eligible Retail Shareholders, if the Company believes their claimed Entitlements to be ove rstated or if they or their nomin ees fail to provide information to substantiate their claims to the Company ' s satisfaction (see Section 6.4 ). Eligible Retail Shareholders who take up their Entitlement in full can also apply for additional New Shares under the Top - Up Facility. If you wish to take up part of your Entitlement If you wish to take up only part of your Entitlement, please either: ? complete and return the personalised E ntitlement and A cceptance F orm with the requisite Application Monies for the number of New Shares in your Entitlement that you wish to subscribe for ; or ? pay your Application Monies for the relevant number of New Shares via BPAY ® by following the instructions set out on the personalised Entitlement and Acceptance Form , so that they are received by the Company's Share Registry by no later than 5.00pm (Sydne y time) on 13 December 2021 . 11 If you take up and pay part of your Entitlement before the Closing Date , it is expected that you will be issued New Shares on 20 December 2021 . The Company 's decision on the number of New Shares to be issued to you will be final. If you do not take up all of your Entitlement, the relevant part of your Entitlement will lapse and you will receive no benefit. Lapsed Entitlements will be subscribed for under the Top - Up Facility or by the Joint Lead Manager s or any sub - underwrit ers . The Company also reserves the right (in its absolute discretion) to reduce the number of New Shares issued to Eligible Retail Shareholders , or persons claiming to be Eligible Retail Shareholders, if the Company believes their claimed Entitlements to be overstated or if they or their nominees fail to provide information to substantiate their claims to the Company 's satisfaction (see Section 6.4 ). If you wish to l et all of your Entitlement lapse If you do nothing with respect to your Entitlement, your Entitlement will lapse a nd you will receive no benefit. Lapsed Entitlements will be subscribed for under the Top - Up Facility or by the Joint Lead Manager s or any sub - underwriters . By allowing your Entitlement to lapse, you will forgo any exposure to increases or decreases in the value of the New Shares had you taken up your Entitlement. Although you will continue to own the sam e number of S hares, your percentage shareholding in the Company will be diluted. 3.6 Payment You can pay in the following ways: ? by BPAY ® ; or ? by cheque. Cash payments will not be accepted. Receipts for payment will not be issued. The Company will trea t you as applying for as many New Shares as your payment will pay for in full. Any Application Monies (greater than $2.00) received for more than your final allocation of New Shares will be refunded as soon as practicable after the Closing Date. No interest will be paid to applicants on any Application Monies received or refunded. Payment by BPAY ® For payment by BPAY ® , p lease follow the instructions on the personalised E ntitlement and A cceptance F orm. You can only make payment via BPAY ® if you are t he holder of an account with an Australian financial institution that supports BPAY ® transactions. If you are paying by BPAY ® , p lease make sure you use the specific b iller c ode and your unique reference n umber on your personalised E ntitlement and A cceptance F orm. If you have multiple holdings and consequently receive more than one personalised E ntitlement and A cceptance F orm, when taking up your Entitlement in respect of one of those holdings only use the reference number specific to that holding. If you do not use the correct reference number specific to that holding your application w ill not be recognised as valid. Please note that should you choose to pay by BPAY ® : ? you do not need to submit your personalised E ntitlement and A cceptance F orm but a re taken to make the declarations, representations and warranties on that E ntitlement and A cceptance F orm and in Section 3.8 ; and 12 ? if you do not pay for your full Entitlement, you are deemed to have taken up your Entitlement in respect of such whole number of New Shares which is covered in full by your Application M onies. It is your responsibility to ensure that your BPAY ® payment is received by the Company 's S hare R egistry by no later than 5.00 pm (Sydney time) on 13 December 2021 . You should be aware that your financial institution may implement earlier cut - off times with regard to electronic payment, and you should therefore take this into consideration in the timing of when you make your payment. Payment by cheque For payment by cheque, you should complete your personalised E ntitlement and A cceptance F orm in ac cordance with the instructions on the E ntitlement and A cceptance F orm and return it accompanied by a cheque in Australian currency for the amount of the Application Monies, payable to " Sovereign Cloud Holdings Limited" and crossed "Not n egotiable". Your cheque must be: ? for an amount equal to the Offer Price, being $ 0.50 , multiplied by the number of New Shares that you are applying for; and ? in Australian currency drawn on an Australian branch of a financial institution. You should ensure that sufficient funds are held in relevant account(s) to cover the Application Monies as your cheque will be processed on the day of receipt. If the amount of your cheque for Application Monies (or the amount for which the cheque clears in time for allocation) is insufficient to pay in full for the number of New Shares you have applied for in your personalised E ntitlement and A cceptance F orm , you will be taken to have applied for such lower whole number of New Shares as your cleared Appli cation Monies will pay for (and to have specified that number of New Shares on your personalised E ntitlement and A cceptance F orm ). Alternatively, your application will not be accepted. 3.7 Mail To participate in the Retail Entitlement Offer, your payment must be received no later than the Closing Date , being 5.00pm (Sydney time) on 13 December 2021 . If you make payment via cheque you should mail your completed personalised E ntitlement and A cceptance F orm together with Application Monies to: Mailing Address Sovereign Cloud Holdings Retail Entitlement Offer C/ – Link Market Services Limited GPO Box 3560 Sydney NSW 2001 Personalised E ntitlement and A cceptance F orms and Application Monies will not be accepted at the Company 's registered or corporate offices or other offices of the Company's Share Re gistry. 13 3.8 Representations by acceptance By completing and returning your personalised E ntitlement and A cceptance F orm or making a payment by BPAY ® , you will be deemed to have repres ented to the Company that you : ? did not receive an invitation to participate in the Institutional Entitlement Offer either directly or through a nominee, are not an Ineligible Retail Shareholder and are otherwise eligible to participate in the Retail Entitlement Offer ; ? acknowledge that you have read and understand this Offer Booklet and your personalised E ntitlement and A cceptance F orm in their entirety; ? agree to be bound by the terms of the Retail Entitlement Offer, the provisions of this Offer Bookle t, and the Company 's constitution; ? authorise the Company to register you as the holder(s) of New Shares allotted to you; ? declare that all details and statements in the personalised E ntitlement and A cceptance F orm are complete and accurate; ? declare you are over 18 years of age and have full legal capacity and power to perform all of your rights and obli gations under the personalised E ntitlement and A cceptance F orm; ? acknowledge that once the Company receives your personalised E ntitlement and A cceptance F orm or any payment of Application Monies via BPAY ® , you may not withdraw your application or funds provided , except as allowed by law; ? agree to apply for and be issued up to the number of New Shares specified in the personalised E ntitlement and A cceptance F or m , or for which you have submitted payment of any Application Monies via BPAY ® at the Offer Price per New Share; ? authorise the Company , the Joint Lead Manager s , the Company 's S hare R egistry and their respective officers or agents to do anything on your b ehalf necessary for New Shares to be issued to you, includin g to act on instructions of the Company 's S hare R egistry upon using the contact details set out in your personalised E ntitlement and A cceptance F orm; ? acknowledge and agree that: o determination of eligibility of investors for the purposes of the Retail Entitlement Offer is determined by reference to a number of matters, including legal and regulatory requirements, logistical and registry constraints and the discretion of the Company and/or the Joint Lead Manager s ; and o each of the Company and the Joint Lead Manager s , and each of their respective affiliates, disclaim any duty or liability (including for negligence) in respect of that determination and the exercise or otherwise of that discretion, to the maximum extent permitted by law; ? declare that you were the registered holder(s) at the Record Date of the S hares indicated on your personalised E ntitlement and A cceptance f orm as being held by you on the Record Date; ? acknowled ge that the information contained in this Offer Booklet and your personalised E ntitlement and A cceptance F orm is not investm ent advice nor a recommendation that New Shares are suitable for you given your investment objectives, financial situation or particular needs; 14 ? acknowledge that this Offer Booklet is not a prospectus, does not contain all of the information that you may require in order to assess an investment in the Company and is given in the context of the Company ' s past and ongoing continuous disclosure annou ncements to ASX; ? acknowledge the statement of risks in the "Key Risk Factor s" section of the Company 's I nvestor P resentation included in Section 5 and that investments in the Company are subject to risk; ? acknowledge that none of the Company , the Joint Lead Manager s , or their respective related bodies corporate and affiliates and their r espective directors, officers, partners, employees, representati ves, ag ents, contractors, consultants or advisers, guarantees the performance of the Company , nor do they guarantee the repayment of capital; ? agree to provide (and di rect your nominee or custodian to provide) any requested substantiation of your eligibilit y to participate in the Retail Entitlement Offer and of your holding of shares on the Record Date; ? authorise the Company to correct any errors in your personalised E ntitlement and A cceptance F orm or other form provided by you; ? are an Eligible Retail Shareholder and that the law of any place does not prohibit you from being given this Offer Booklet and the personalised E ntitlement and A cceptance F orm, nor does it prohibit you from making an application for New Shares and that you are otherwise eligible to participate in the Retail Entitlement Offer; ? are not in the United States and you are not acting for the account or benefit of a person in the United States (to the extent such person holds S hares for the account or benefit of such person in the United States); ? u nderstand and acknowledge that neither t he Entitlements nor New Shares ha ve been, or will be, registered under the US Securities Act or th e securities laws of any state or ot her jurisdiction in the United States. Notwithstanding the foregoing, the Entitlements may not be purchased, taken up or exercised by persons in the United States or by persons who are acting for the account or benefit of a person in the United States. Neither the Entitlements nor the New Shar es may be offered, sold or resold in the United States except in a transaction exempt from, or not subject to, the registration requirements of the US Securities Ac t and the applicable securities laws of any state or other jurisdiction in the United States ; ? are subscribing for or purcha sing an Entitlement or New Shares in an 'offshore transaction' (as defined in Rule 902(h) under the US Securities Act) in reliance on Regulation S under the US Securities Act; ? have not and will not send this Offer Booklet, th e E ntitlement and A cceptance F orm , or any other materials relating to the Entitlement Offer to any person in the United States or any other country outside Australia ; and ? if act ing as a nominee or custodian, each beneficial holder on whose behalf you are s ubmitting the E ntitlement and A cceptance F orm is resident in Australia , New Zealand or the United Kingdom and is not in the United States and is not acting for the account or benefit of a person in the United States, and you have not sent this Offer Booklet, the E ntitlement and A cceptance F orm or any information relating to the Entitlement Offer to any such pe rson . 3.9 Entitlements of Ineligible Retail Shareholders In compliance with ASX Listing Rule 7.7.1 (a) and section 708AA (including section 9A (3)(a) ) of the Corporations Act, the Company has determined that it is unreasonable to extend the Retail 15 Entitlement Offer to Ineligible Retail Shareholders because of the small number of such Shareholders, the number and value of S hares that they hold , and the cost of complying with the applicable regulations in jurisdictions outside of Australia , New Zealan d and the United Kingdom , but it reserves its r ight to do so ( subject to compliance with relevant laws). The Company , in its absolute discretion, may extend the Entitlement Offer to any S hareholder if it is satisfied that the Entitlement Offer may be made to the S hareholder in compliance with all applicable laws. The Company , in its absolute discretion, reserves the right to determine whether a S hareholder is an Eligible Retail Shareholder and there fore able to participate in the Retail Entitlement Offer , or an Ineligible Retail Shareholder and therefore unable to participate in the Retail Entitlement Offer . To the maximum extent permitted by law, the Company disclaims all liability in respect of su ch determination. Ineligible Retail Shareholders will not receive any payment or value as a result of the issue of any of those New Shares they would have been entitled to subscribe for had they been eligible to participate in the Entitlement Offer. Entit lements of Ineligible Retail Shareholders will be subscribed for under the Top - Up Facility or by the Joint Lead Manager s or sub - underwriters. 3.10 Issue of additional New Shares under the Top - Up Facility Any New Shares not taken up by the Closing Date may be made available to those Eligible Retail Shareholders who took up their full Entitlement and applied for additional New Shares under the Top - Up Facility at the same Offer Price ( Eligible Top - Up Facility Participants ). An Eligible Top - Up Facility Participan t can apply for additional New Shares under the Top - Up Facility in excess of their Entitlement at the Offer Price , up to a maximum of 50 % in excess of their Entitlement . There is no guarantee that those Eligible Top - Up Facility Participants will receive the number of New Shares applied for under the Top - Up Facility, or any. If Eligible Top - Up Facility Participants apply for more New Shares than are available under the Top - Up Facility, the D irectors propose that New Shares available under the Top - Up Facility be allocated to Eligible Top - up Facility Participants on a pro - rata basis. If you apply for additional New Shares under the Top - Up Facility and your application is succ essful (in whole or in part) your New Shares will be issued at the same time that other New Shares are issued under the Retail Entitlement Offer. There is no guarantee you will receive any New Shares under the Top - Up Facility. Refund amounts (greater than $2.00) , if any, will be paid in Australian dollars. You will be paid either by cheque sent by ordinary post to your address as recorded on the S hare register (the registered address of the first - named in the case of joint holders), or by direct credit to the nominated bank account as noted on the S hare register as at the C losing D ate. If you wish to advise or change your banking instructions with the Company 's S hare R egistry you may do so by going to www. linkmarketservices.com.au and following the instructions. 3.11 Brokerage and stamp duty No brokerage fee is payable by Eligible Retail Shareholders who accept their Entitlement. No stamp duty is payable for subscribing for New Shares unde r the Retail Entitlement Offer. 3.12 Enquiries If you have not received or you have lost your personalised E ntitlement and A cceptance F orm, or have any questions, please contact the Offer i nformation l ine on 1300 222 378 (within Australia) or +61 1300 222 378 (outside Australia) between 8.30am and 5.30pm (Sydney time), Monday to Friday . If you have any further questions, you should contact your stockbroker, solicitor, accountant , financial adviser or other professional adviser. 16 4. AUSTRALIAN TAX CONSIDERATIONS 4.1 Introduct ion This is a general summary of the Australian tax ation consequences of the Retail Entitlement Offer for Eligible Retail S hareholders that hold their shares on capital account for Australian income tax purposes. The category of S hareholders considered in this summary are limited to individuals, complying superannuation entities and certain companies, trusts or partnerships. This summary does not consider the consequences for S hareholders who: ? hold existing S hares , New Shares or Entitlements in a busine ss of share trading or dealing in securities , or otherwise hold their existing S hares , New Shares or Entitlements on revenue account or as trading stock; ? acquired existing S hares in respect of which the Entitlements are issued under an employee share scheme; ? are subjec t to the ' T axation of F inancial A rrangements' provisions in Division 230 of the Income Tax Assessment Act 1997 (Cth) in relation to their holding of S hares , New Shares or Entitlements; or ? are tax residents of any jurisdiction other than A ustralia. The information contained in this summary is of a general nature and is not intended to address the circumstances of any particular individual or entity. This summary is based upon the legislation and established interpretation of legislation as at the date of this Offer Booklet, but is not intended to be an authoritative or complete statement of the law as relevant to the circumstances of each S hareholder. As the taxation implications of the Retail Entitlement Offer will depend upon a S hareholder's particular circumstances , S hareholders should seek and rely upon their own professional taxation advice before concluding on the particular taxation treatment th at will apply to them. Shareholders that are subject to tax in a jurisdiction outside Australia may be subject to tax consequences in that jurisdiction in respect of the Retail Entitlement Offer that are not covered by this summary. Such S hareholders shou ld seek and rely upon their own professional taxation advice in relation to the taxation implications of the Retail Entitlement Offer in any jurisdictions that are relevant to them. Neither the Company , nor any of its officers or employees, nor its taxation or other advisers , accepts any liability or responsibility in respect of any statement concerning taxation consequences of the Retail Entitlement Offer. 4.2 Income tax consequences of Entitlements a) Issue of Entitlements The issue of Entitlements to Australian resident S hareholders should not, of itself, give rise to any amount of assessable income or capital gain for S hareholders. 17 b ) Exercise of Entitlements The exercise of Entitlements should not, of itself, result in a ny amount being included in a S hareholder's assessable income and should not give rise to any capital gain under the CGT provisions. Eligible Retail Shareholders that exercise their Entitlements will receive New Shares. New Shares will be taken to have been acquired on the day on which the Entitlements we re exercised for CGT purposes. The CGT cost base of each New Share acquired will be the sum of the amount paid to exercise the corresponding Entitlement (i . e. the Offer Price) and any incidental costs in acquiring the New Shares. c ) Lapse of E ntitlement If an Eligible Retail Shareholder does not accept all or part of their Entitlement in accordance with the instructions set out above, then that Entitlement will lapse. There should be no adverse tax ation implications for an Eligible Retail Shareholder from the lapse of the Entitlement. 4.3 Income tax consequences of New Shares The New Shares should constitute CGT assets for CGT purposes . Dividends paid to Eligible Retail Shareholders in relation to the ir New Shares should generally be subject to the same income tax treatment as dividends in relation to existing S hares held in the same circumstances. As outlined above, the CGT cost base of a New Share should generally be equal to the sum of the amount paid to exercise the corresponding Entitlement (i . e. the Offer Price) and any incidental costs in acquiring the New Share . Any future sale of New Shares will constitute a disposal for CGT purposes. A capital gain will arise if the capital proceeds on disposa l exceed the CGT cost base of a New Share. A capital loss will arise if the capital proceeds on disposal are less than the reduced CGT cost base of a New Share. Shareholders may be able to apply carried forward or current year losses to reduce their capital gain on disposal. The ability to utilise losses is dependent on meeting the relevant tests . Non - corporate S hareholders may be entitled to a concession which discounts the amount of capital gain that is assessed. Broadly, the concession is available where the New Shares have been held for more than 12 months or more prior to disposal. The concession results in a 50% reduction in the assessable amount of a capital gain for an individual S hareholder and a one - third reduction of a capital gain for an Australian tax resident c omplying superannuation entity S hareholder (including generally where a flow through trust or partnership distributes to such S hareholders), after offsetting any cur rent or carried forward losses. In relation to trusts or p artnerships including limited partnerships, the rules surrounding capital gains and the CGT discount are complex, but the benefit of the CGT discount may flow through to relevant beneficiaries or partners, subject to certai n requirements being satisfied. A ustralian tax resident S hareholders who hold New Shares on revenue account, as trading stock or are subject to the rules in Division 230 of the Income Tax Assessment Act 1997 (Cth) concerning the taxation of financial arrangements s hould seek separate independent professional advice. 18 4.4 Non - resident CGT withholding Specific rules can apply to the disposal of certain taxable Australian property under contracts entered into on or after 1 July 2016, whereby a 1 2.5 % non - final withholding tax may be applied. However, the new rules should not apply to the disposal of a New Share on ASX (in accordance with a specific exemption). 4.5 Provision of TFN or ABN Australian tax legislation imposes withholding tax at the highest marginal rate (currently 4 5 % plus a Medicare levy of 2% ) on the payment of distributions on certain types of investments, such as the unfranked part of any dividend, where no TFN or ABN (if applicable) has be en provided and no exemption applies . Australian tax resident S hareholders may be able to claim a tax credit/ refund (as applicable) in respect of any tax withheld on dividends in their income tax returns. S hareholders that have not previously provided their TFN or ABN (if applicable) to the Co mpany 's S hare R egistry may wish to do so prior to the Closing Date to ensure that withholding tax is not deducted from any future distribution payable to them. A S hareholder is not obliged to provide their TFN , or where relevant, ABN to the Company . 4.6 Other Australian taxes GST and stamp duty should not generally be payable in relation to the issue, sale, or exercise of Entitlements, nor in relation to the acquisition of New Shares . Eligible Retail Shareholders may however be restricted in their ability to cl aim input tax credits in relation to costs incurred in relation to their acquisition of the New Shares (such as costs relating to professional advice obtained by S hareholders regarding the Entitlement) . This will depend on each Eligible Retail Shareholder’s particular circumstances and as such this should be reviewed by S hareholders prior to making any claim . 19 5. ASX ANNOUNCEMENTS AND INVESTOR PRESENTATION Refer to the attachment s . ? ?????????????????????????????????????? ??????? ?" ?????#?$?? %&’?($))$???*+,$?-?.#$?$?/ 00?1???(2? ?0304 ? ?????????????????????????????? ? ????????????????????????????????????????????????????????????????????????? ???!""?#"$?%$&’? ?()*+,-.’????????????????????/?????????????????????????0??????00????0???1?0????????????????????????????? 2???????345?789:4;’???< ? ????????????????=>????????????????????????@?%?A???????? ???!BB?"CD?EB#’??3FGHI*’J??? 1?????K?1????????????????0??=>????????????? ???%CD?B$"?B"%’??L+9M4N4OP’Q????? ? ?????K????????????????????K??????????????????????????00?????????????????????????????????????????? ?0? 2???????RO;PSP-PS,O9+?FOPSP+4N4OP?TUU4:’??????????????????????????????????0? 2????????? ????????J???1?V??????J?????2??????W?????????????????????X4P9S+?FOPSP+4N4OP?TUU4:’? ?????????J?????FOPSP+4N4OP?TUU4:’J ?????????J?????FY-SPZ?X9S;SO[’@ ? 3,?:4+S9OM4 ??@A?B@???>??CDEF?GH?;?H??I@?J@?>K>@??LA??MN@??>?@AO?P>?;??>;F?K?A>?>????J??@@HAQ ? R?!"$!%ST???’#U?VW$W?X?#WV )?6,????????????????????1????4??7???Y???Z??+???????????5? [??7???Y???Z??+????????????????+???????9?2????????4????29??,??1????4?4??7???Y???Z??+?7??????1?,? ;A?\@]K@??^O?\P?J@?;A?^O?\@A?>B;?@^O?\F>_@^O?\;??>?>K;?@^O?\KJ?N@??^O?\?K>?>??^O?‘?G?F??_‘O?‘aG>H;??@‘O? \AI?GFH^O?\??GFH^O?\B;<^O?\?;Ja@?^O?‘M@F>@?@‘O?‘>??@?H‘O?‘KF;?‘?;?H???I@J?A>B>F;J?@]KJ@AA>??A?b>?I>?? ?,????????+??4????1?????????7???4????????2???31???????????5?[??7???Y???Z??+????????????????1??? A?;?@B@??A?;M?G??CDEF?GHLA?KF;?AO?MGA>?@AA??MN@??>?@A?;?H?aJ?b?I?A?J;?@a>@AO?A?;?@B@??A?;M?G?? ?,?????1???9????7,??,?./0??1??????????-????????????????????????????2?1???,???1?????????? ?44??????4??,??c:1??9?d?????+??????,??1????4?????????5??????????????4-?????+1?????????-?41?1??? ??????+??????4?????????????????-???????21?????????????4???????-????+??????????1????Z-????????,? 4??7?+1??????-??????????4??7???Y???Z??+???????????5?6???,????8??1???8???????????????29???7-? ./0??1???????,??d???*????e??????????????????9?????????2????9?4?????9?????????????????????????1?,? ??4????????-?????1???+??,??4?????????????1???????-????3????????????4??????????????????????????4-????? +1?????????-?41?1?????????+?????????4????????????4?????????????????5?f1?,?4??7???Y???Z??+? ?????????????????????41?1????*??????????8???????????????????????+1??????????4?41?1??? ???4???????5?f1?,?4??7???Y???Z??+??????????????*??*??Z??7??????1?Z??7?????Z?-?1????????????? ??????,???4????????????????123?????????+??4??????21??????-???????????????????????*??1????????????? ??????????+??????-????9??4?7,??,?????2?9????./0??1?g?????????-??,?????9???1??????1??????1??????? ??44????????????9?4?????,?????????????????????????29???9?4??7???Y???Z??+???????????5???? ??????????????????7??????9?????????29???????2?,??4??4?./0??1??????,??d???*????e????????,?????9? ???3??????-?4???????-?????1??????-?4??7???Y???Z??+??????????-????1???????????????????????????????? ?,?????????????????,?1??????7????2????,??*???????,??????1????1???????7??????????44????????????9?4???? ??9?4??7???Y???Z??+???????????5?h???,??1????????,???????????????i????1???+??????1????????,?? +???,?j???????1?????4?????,????????????????./0??1??,???????????????????9?*???4?????,?? ??4????????5?.??,?1+,????????2????????,???2??????Z?????????1????,????,??4????????????????,??? ????????????????????1??????????,????,????????????8????????????4???????????????2??-????????????? ????2?????????4?????9??1??????7,?????*???????,????4???????????????????????,?????????????????????? ????????????????5?.??1??????1??????????*????????????9???44????????????9?4?????,?????8??????????? ????????29??,????4??7???Y???Z??+????????????????????+??????*?????9??4?4??????5?d???????????4??,??? ??????????????????????+?9???1????????????????????1??1??????????????4??7???Y???Z??+???????????-? ??????1????9??????+,???4??,???1????????????????????????????,????+??4??????*????????9-?1?????????9????? ????1????????1????29??,??0kl??Ymn?????????5? ? R’#$#(’$T?’#o?!X$W’?# )?6,?????????????????????????????4?????4???????????4????????5?6,?????? 4?????4???????????4????????????*?????????,???????????????????4??????1??????*???1??????????9???????????? ???????????????2???+?????????*???4?./0??1?g??*??7?????????41?1???4???????????????????????p???? ???4???????5 ? q !!?#(? r?CFF?J@P@J@??@A????stLO?sCtL??J?sCDuL?>???I>A?KJ@A@??;?>???;J@????CGA?J;F>;??H?FF;JA??G?F@AA? ??,??7?????????j5 ? v#%?!"!’W?!V )?6,??wxy?h??1????????????????4?41??????*????4???????????????1????????+?+?????? *????1??????*?????-?7,??,???9?????1?????????+-?4???????????*????9-???*????????????+?????-? ??*???????????????,-?????????????*???????-?,??+??+-????Z?????Z??+-?2??Z???+????????,???4????????? ???????Y4?????????????*?????????????*?????????1???+?4???7,??,??,?9?,?*???????*????????9??????*?? ?1??????9?4?????????8????????????,????????????????????????????5?????,????1?????4??,????????*?????-? ?,??wxy?h??1????9??????9??????4????,?????7??????1???????4????,??????1?????4??,??????????????Z?? ???,??????*?????????????:1??9????1????????????,???4?????????????1?????4?./0??1?-??????44????????????p? ???41?????,?9?????+?-???????9??????9??????????????*??????2??4???????+??????????????????4????????? ??*????9????*????????./0??1??????????44???????-??????????*???1??????9?4?????????8????????????,??? ??????????????????????????????????????4??1?,?????*?????5?6,??wxy?h??1???????????+????3?????????? ????+????????1????7???????????,??c:1??9?d?????+?4???7,??,????,????????*???????8??????????????*?? 4????????????21?????????4??8??????5 ? z’V(T$’X?! )?{?1???Z??7???+???????+?????,??????????????????4????+?2????9??4???*???????4????,?? ?1????????4??,??c:1??9?d?????+???????????????29???4?????????????1?2????4????????-?????1???+???+??? ??????+1?????9???:1????????-???+??????????????+????9??????????????????,??????????????4?./0??1?????? ?,??wxy?h??1?-????????,??4??,????????????i?????,????????????*??????????2???????????????-??44???????-? ?44?????-????????????????9???-?????????????*??-??+????-?????1????????????*?????j?????????????9??1?9? ??????2????9?i????1???+?4?????+??+????j?????????????4??,???8????????????,??7?????4??,?????????????-???? ?,????8??1???8???????????????29???75 ? ???????? ?? ??????????????????? ?? ???????? ?? ??????? ?? ?????????????? ? !"#$%!&’ (?)?????????????*????+ ,??????-?.?/???? .???????0?????????????/????? *??????? 1 2 ?? ?2 ?? ?? ?3 ?2 ? ??????????????????? ? ????????????????????? ????????? ????????? ?????????? ????!"#$%?’(?%)*?+"!+%#%"%#’(?’,?$*-./0?’(123*4#+*?#(,3.+%3"/%"3*5?%)*?6*7*$’24*(%?’,?/$’"6?(.%#7*?.22$#/.%#’(+?.(6?%)*? #(*8’3.!$*?-3’9%)?’,?6.%. ?:.3%(*3?23*6#/%+?%).%?!0?;<;=5?>=??’,?#(,3.+%3"/%"3*?+%3.%*-#*+?9#$$?#(%*-3.%*?’(123*4#+*+5?/’$’/.%#’(5?/$’"6?.(6?*6-*?6*$#7*30?’2%#’(+5? /’42.3*6?9#%)?;????@?"!???!????’?(A?????????????(B?BBC?3%?"!?1?!?!?????!??????: ;D""???#??%%??E???!????A??????????"F???"?3’A?C?????E?"!??#?"F???"?????""??: 78859?G9?H5 ??????%?????I?"F??????%??"??!??#?378859?G9?H5:J ;(K??C?+?"$???!?!??!F????"!?$??"??#?%??$????????2(????L??+??M?(B?-?@??0???)?)(? ;((?*C?+?"$???!?!??!F??=1/& 3(: ???????2 N?O59P9????? =F??1?!?!?????!????????"?????????+??I??!!???0??Q??#??"????%???!??R???!?+???+?????$$??+?S????!??3,?"!?????:?R???!?+?3!F??TU????V5?O?W????59?: ???X??? -?I?"F???"??""??+?I???????Y?? ??????I?!F??E?"!??#?,Z????+?"F???" N?5?U8?G9UH55O? =F??%??$??+"????!F??1 ??!??/??"??#?I???????#????0??+?%????+?!???""?"!?I?!F????+??#?I??Y??#?$?%?!????? ???????!"??""?$??!?+?I?!F?"$????#?,Z????+?!?? $??!?$?????""M?!?#?!F???I?!F???@?"!??#??????I?$???+?%??!????"????[??"0???M?Q??0????????+,+????+? \????????U??4?]? ?5???4?78859? ^_5?\????????U??4??????4565???78859I????0??$??+?$!?+????Q??+??M?))?-?@??0?????+?=??"+??M?)??-?@??0???)?)(??1?!?!?????!"???!?!?Y????%? ??+???!F??D?"!?!?!??????1?!?!?????!???????I????0????????+?!????I???+??E?"!??#????#?0?????"!?!?!???"???+?"?%F?"!?$?!?+???@?"!??"??!?!F????????&??$????? =??"+??M?)??-?@??0???)?)(? ^_5??5???4??????4565???78859?%??"????Q??+??M?)B?-?@??0???)?)(???+?$??"?"???Q??+??M?(??>?$??0???)?)(??1??#?0?????!????"F???F??+??"???? ‘abcdefgeh?jkl?mkefeno?eno?cpk?qngcko?rgnsotuh?lgff?vk?evfk?ct?ewwfx?ytd?eoogcgtnef?bpedkb?tzkd?cpkgd?kncgcfkuknc?anokd?e?{|t%.Z w?}e~gfgcx??eb?wedc?ty? !F??/?!????1?!?!?????!??????M?bav?k~c?ct?e?~ew?ty?????ty?ke~p?bpedkptfokd?b?kncgcfkukncb?anokd?cpk??kcegf??ncgcfkuknc??yykd?eno?cpk??tuwenx?b?b~efk? 0?$Y?%???$? ?U66??65??? =F??????!?R??+?Q???#??"?F?@????$??@?+?%??.????$F?$????!???!"???????E?"!??#?"F???F??+??"???+?-1<=>????%??"??!??#??()?*??3?*?2C:?IF????!??+? !??!?Y?.?%?!F???????????!?!?????!???#F!"???+???!F??1?!?!?????!?????? ,???!F??-??.1E?$?!?@??>???$!??"???!??+?!????????%??!?$?%?!?????!F??1?!?!?????!?????? 3(:?=F??=F????!?$???1E.dgspcb??dg~k??{|??????gb?~ef~afecko?vx?dkykdkn~k?ct?‘q?ftao?b?~ftbgns?wdg~k?tn?}dgoexh????jtzkuvkd??????t?????2(%???"F???M?0???#?!F????"!?!??+??#?+???%?????!??!F????????$????!????!F??1?!?!?????!????????=1/&??"???!F????!?$??? $??$???!???????????+?!F???$!????%??$???!?IF?$F?,Z????+?"F???"?!??+??????+??!??????!???!F???E.+?!?????!F??1?!?!?????!?????????+?I????+?%??+???????????$!??"???+???????!??%%??E???!??=1/&??=1/&???$??+?"?!F????I?"F???"??""??+???+???!F??%??$????!? ? ????????????????? ? ????????????????????? ?? ?????????????????? ?!??"?#??$????%????&??% ’?(??)& ??*???+????,-,?? ????????? ?!??"?.??$????%????&??% ’?(??)/ ?0??????? ??1????2?3???????4??5?6??????21??78?9??????? ???:?;??6?<=>>6?23??@A=????BCDEFG?IG?JEJK A LMN?PQPRS?TRU?VW?XYWZ[\]Z^_]^Z‘?\]Z[]‘aX‘\?bXcc? 23?????????3d8??621?1e?9???9??2?3e?9??????3?? ????????2f??g??8?2?31e?9?68?????:2?h??@i?23? PQPQj? ? ????????:2???9?3?23??????;?9?1??3?2?1?9???? 6??????1??6?3?1??;?k?;?39?e?l?f??36?3???3?? ??2?29???m??2?3???43??1??2?1?:h29h?????3?:? n??23323????????312?2?3?????9g??88?29??2?31??3?? n?2???3?:?9?????3??2f???88?29??2?31??3?9????? 4??5 ???????e?23?8???3??1h28?:2?h?mop?k??:2??? ?78?3??23????h??o3???8?21??6??????;??? 1?9??2?g? 9?3192??1?9?1??6??1?:2?h??????1?f???2?3?g? ??q?2??6?3?1 r ???s???? t????u???v???% ???! ’??????? "?????w%x?? .? ? y?’????? w%x?? .? ? z?{? u? |}~~?G?????}? ???IG?G?????}? ,?????????????????????????????????????????????????????????????¡?¢?£????/?????¥¥?????ƒ????????¥¥????§¤?'????“????«‹«‹ ?? ????????????????????????????????????????? ????? ????? ?????? !?"?$%&’?"(’"?? )*+??,’"-?.???/0 ? 1?%,%?’-??????? !?"? $%&’?"(’"?? 234’??’2??!?3??,’"-? .????5????0 ? ????6? ?????? !?"?$%&’?"(’"?? -!7!?? ?(??8’?, ?2’? ?,’"-?.????0 ? 9:;<= 9>:;<= 1?%,%?’-???@?!"A%?(??!%"? B? 234’???,’"-? .????5????0 C 1?%,%?’-???@? )*+??,’"-? .????5????0 C D%&’?’!7"?)??D?.2 %?-?,?%2’??!"7?,%E’?? B?-??????%??7’0 FGHIJKLMNOLIM?IQ?QLRSTUV?QTIJ?WLRLONX?YTNMVQITJNOLIM?ZRUM[\]?^_‘?NMa?bL[OITLN?cIdUTMJUMO]?efFghefef eGWLRLONX?YTNMVQITJNOLIM?ZRUM[\]?efef iGZSVOTNXLNM?cIdUTMJUMO]?efef jGZSVOTNXLNM?WUQUM[U?kIT[U?lZWkm]?efef?WUQUM[U?_OTNOURL[?noaNOU? pqrstuvwu?rstwyzr?s{?|z? {}z?{~?s?z?s{??s?tzz? ?w?wsuv??{yzt}?z}sr w}? s?z??{tv??|??????=@A?9BCDCEF?G>H@I ??**????$?J????+???*??????" ???????"’?*"?&??’?K4&??????$?-?"??????????????? "????????##??"???$????’??#????"???L 3????????????’??????????’??#??? MNO?PCB=Q?9B>H?DQ?H@R@I>9G@EQ?:EH?:?8Q@DSE>I>F;T ????????TQ@DSE>I>F;A?9B>D@==?@ES:EDCEF? ?????????? 35?#?"????"??????? /?*#??????$???&??#$??#?""??’?????"??????????????????? "?#?????????????T?""??? 3?????????’???????*??"?????L?? 0??$???????5*??"?????????"???????????"????"??????*??"?? ??"?????"?&??’?$????"?????????????6????????" ?? ???????????????????????????????????????????? ??????????????????????????????????????????????????????????????????????????????????????????? ?????????????????????????????????? ???? !"#$ %&’()&*?,&-?*&.(/,0?1/*? ,&-?2/334,(5(&0 ?"!678?$ 9*&:5&?,&-?1&:54*&0?:,;? 14,25(/,:’(5?= ?@A:,;(,.?5B&?5&:3?5/?(,2*&:0&?5B&? 02/A&?/1?:25()(5(&0?:,;?.&/.*:AB(2? 1//5A*(,5 ?? ???????? ?????????????????????????? ????????? !"??! #?$%???? & ’?()???)???????*???+??),?-)?+????)????? ??)????)?.??/??/)??+????0?????11)?)???)?????? 234?67893:;?<:=>=;=2??@ABCDEF;?27:=G27>? ?????1)???)?????????? & @ABCDEF;?H872IJ?83K<:7:=G2?72I?LG83? ?)???????/????.????+)???M)0?????)?)???????????? NOE>GG????????7?????????? 4???????????>??@??? A?B??????>??@??? 4?5?????????? >??@??? >????????????>??@??? ??@??? C??D????????>??@??? E??D??????7?? ??@??? ?? ???????????????????????????? ????????????????????????????????????????????????????????? ???????? ?!???#$%!&$?!????’$(’)$? %?*+,)(-.? $/’ ?.%?? !?(?0?.$1?.$$’$?????? ’ 2?)?!?$%? ?3(%%?4????$$3???1?? )$%?5?6 37$!???? ?.? 8’$3 !?(?% 9: ,-33$?!?0(37?(3?$ ?? 4????$$3??? ?; ? )$%?5? 6 37$!??? << 8’$3 !?(?% ?? ???????????????????????? ????? ??????????? ???? ?"? #? $%?&’()*+, -??.?/?01?2 ?#3?"? 4?’?5?’5?6? )7+, 89:;?8:=>?@ ?33 -??A??B1.C?1??A????1??????DE??F? ????/?G???H?2???F?????-??H?? I?2?1?????2????J?2?? K LM?OPQRST?PUVPRWPXYP?ZW[\WX? ??????]?2?.?^C?1?]????J???? F?B2??2^??2??H?2?^?2^? ]?HG?2??1 K _?2‘ab?]B??A??/???]?????F? cde‘.?1????f-?g???2?2^ K -??A??B1????????F?cde‘.?1???? EG????HHh?i?dD?j?.??2^1? ?2???aE??F?k?.?2???i??BG K ??????????c]]?B2??2??0???? 1?^2?F?]?2???bG????2]??0????2? ?]]?B2??2^??2??]??G?????? F?2?2]? K j?.?1?_?2‘ab?]B??A?? /???]??????.?1????cde‘.?1???? ]?HG?2??1??-I?i.?J?.? j?.??2^1??2??l?^2??1? j?.??2^1???HG?2C mn>n9?o:99nppq ?&r3 ab??21?A???bG????2]??0??s?2^? ?2?]CJ???1?]B???C?0????2? ^?A??2H?2????G???H?2?1t? uB?.?F????v?c-??11?11?? 8n9w:;n>>n?xnwyzw=?w {)?|?,}?r?$)* ~M?OPQRST?PUVPRWPXYP??P?W?PRWX?? ]?HG.?b???]?2?.?^C??2??????A?1? ???????GBJ.?]??2??G??A????1?]??? ???:wwn?????n {)?|?,}??,???’?7?+?,’ -??A??B1??aE??F?j??.??? ?d?^2??B???cB??????C??2?? i?2???.?I?2?^????F?????cvvc ?>n?n??p:9yn {)?|?,}?r,}+?? ) ???H??.C????.?B?h??bG????2]??? ?2?A???B?.?1????2??B??H????2? ?2^?2????2^??2????A?.?G?2^? 1?]B????2??1]?.?J.?? ??]????]?B?? K ??‘F?B2?????F?v]?2?^??BGh? ?2??^??????]?2]???]???? 1??A?]?1?G??A????? ????B^??B??cB1???.?1?? K j?1?G??A?????1?^2?F?]?2?? 1BGG?????????????HG?2C? 1?2]???2]?G???2??1?J?????2? ?2A?1?????2??????]???? K ??‘F?B2?????2???aE??F? ????????WX?~M??????TS? F?1??1??^??0?2^???]?2?.?^C? ]?HG?2C?F??H??????‘???? K /??G?s2?0.??^???2?? ?bG????2]??0????2?????].?B?h? d??d??2??v??d?1?]???1 ??11?l?.s?? ?,’?#?)7?+?()? 6? )7+, c..?2????]s?2 ?,’?#?)7?+?()? 6? )7+, ??C?I?2?^?H?2? _??????R??RQW???YR???WP?¡?¢£?/??QXQ?WX??¥WRPY[?Rƒ?ZW???§?WX?[\P?¤???????'?QR??QS?“¢«‹¥?TS?X?›WXPP??WRPY[?R??????ZWX??Y?›V?P[W?X???????a?B??C????1?2^ ?? ??????????????????????? ?? ?????????????? ??????????????????????? !??#$%&’()*?+??$??%$,?(%$!??)*?()*?()-$!’+$)’?()?.?+#?’$?&)??!’?%&*$? ?/0/?123?2??4??2????2?4???5?4/657?8????9?6???:??;??? ??0/65?5?16??2/:??7?@?65??A??4?2B??CD?123?E/1?16:?;1==?/=???>?????5?2??A?65?0??F??2?5?0=/2A??4? ?/0/?123???0/6?1?6?A??4?@GHIJ?16?/????5/6???;12B?:??;2B?16?5?4/65 K??LMNO????M??P??8?Q=??5???0??2??2??16?????/?B???2A=?;??A??4??0??/21?6???621=?RS@GHT7?@?65?? %&(!$??U%?+?’V$?W,?(’X?Y&(!()*?Z(???()?#&%’?[$??!$??’??U?)??’V$???+#&)X !?Z?%\()*?.&#(’&?? ??D?1??4?62??5??16:?2B1??0??1?57?8?Q=??5??????62=3?B/??T]??40=?3????=??/2?5?16?Q/6>???//6?? &)??_X?)$X‘?aV$???+#&)X !?%$!??%.$!?&%$?U?%$.&!’?’??$b#&)???-$%?’V$?)$b’?c?X$&%!?’??!?##?%’? A????/?2???9?6???:??;2B?16?Q/6>???/?/65??356?3?0=???0????66?=?2??>??B1??5?A?==?;16:???40=?21?6??A? 2B??d?;?Q=??5?e=/2A??4? fg??hi?M?j?k?M?MNO?N??????l??m??????????l??m????n??m??P?j?m????? o?p??P??m?qP??r??????sB??/55121?6??A?2B????6?;???9???1:623??=??5?0=/2A??4?t?6???16?^?1?>/6????6??/65?85?=/15??/???A????/?2?2??>??16??0??/21?6?>3?Tv@GHH?1=5????2?16?=?5???4??2=3?6?2;??w?1=5?/65?/????512??/?B?0=/2A??47?sB????????????;1==?>????????5?>?2B?162??6/==3?/65? ??2??6/==3???16:???62?/?2???7?sB??6?;?0=/2A??4??;1==???2/>=1?B?2B???/0/>1=123?2????00??2?/5F/??62? ?62??0?1?????44?6121???;12B??????0??5??2???65??0166?5?;12B?>??2?0?/?21???2??:?9??64?62??2/65/?5? x???l???r?y?Nm? CD?123?E/1?16:z { e=/??4?62 { C6212=?4?62?|AA?? d?2?Q/?B?}?~5?>2??~IS?|?2? s?2/= ?? ?SH7T ?HH7? ??7? ????? ?????r?y?Nm? d?;?Q=??5?e=/2A??4~?? Q??2?4???Q/0?? ???w16:?Q/012/= s?/6?/?21?6????2? s?2/= ?? ?S?7? ??]7? ?S?7? ??S7? ????? ?? ???????????????????????? ???? ???????? ?????????? ??!?" ? ?#????$??????#???????%????? ?????????? ??!?" &??%???????$? ????????#??????’?() ??*?+???????? ??!?" ,?????????????????????????-..? ?%??#?%??# ?/???????? ??!?" 0?????%???????.?%??1????????.?,?????????????????????????-..? ???#?? ?#???? ??????????????2*????????????????? ?/???????? ??!?" ??%? #?(????.? ?????????????-..? ?345!!1??0?(?6 ?7???????? ??!?" 8??????????.???9???%? ???????????#???#? ??$??&??%???????????’?() ?:???????? ??!?" ???????????????????-..? ???.? ??????????;??????#?1? ????????#???????????????#??%%?1???%??.? ???#??1??%$?#????????????????????<$? ?$??#? ? ?:???????? ??!?" ???????????????????-..? ??1??? +!???????? ??!?" = ?= @= BHJ G>BKJ GABHJ GCBIJ <=?MN>< >=?MN>< ?=?MN>< @=?MN>< <=?MN>> GHBCJ GHBKJ GHBOJ GHBCJ GHBKJ G< >P?MN>< <=?MN>> ?? ??????????????????? ? ??????????????????????????????????????????????????????????????? ??????????????????!??????????????"? #?????????????????????$?!?????!???????%!??????????"?????!??????!????!"?????????????????????????? &’()?’?+’,)-.’/?’0()-1)?.+2’3,?45?678/490:1?’11),1?’50?/.’;./.,.)1???????????? ??????????????????????????#??>?????????????????????#?????!????!?????????????????????????????? ???????????#????????????????????!????????!?#????????? ??????"?????!??!??????!???!????????? ??????????????!?#?????!???????????"??!????????!????????!???????????????????$????!????!???? >???????!????!??$????!?????????????????#???????????????????????????????????????????!?? ???#???@?????!$????????!???????????????#???????!???????A????????????!$?#???????????!??????!? ???????"??????????????????????!????? ????!?????!??!??????????????????????????????????? ????????!???!??????!??!$?????????? ???!????????????!???????????!??????#????????!??!??????!???!? ??????????????????????????????????????!$??!????????!????????#!??!??????!????????????"???!?!????? ?????????!?????!?????? ??????!??%???????????!??!???????????????!????!$??!?????? ????!?????!"? ?????????????!???????????????!??!?"???!?!????????????"????????????"???#????????????? ????????!??????????? BCDEFGFE?IFBJB ? EKLMNOPOPQN?RSTUVWSMN?STU?SWOPKTV?KX?KOYNZV [????????? ????????!?????? ???????? ??!???? ?????!$???????!??????????????????????? ?????????#??????? ???!$?????!???$???"? ?????????????!$???!??$??$?? ???? ????!????>??????!????????!?????????$??????%???? ????????? #?????????????? ???!$??????????????????????!???$???????????????????$??????????????!???!????? ??????"??!??!??#??????!??!$??????????????????!?????!????????????"?????????????????? ??? ??????!??????!?#??!???!????!????????!$???? ????????#??????????????$!?????!?? ????!??$??"??!?????!$?$???????!????????$!????!"???!$???? ?????!$????????"???#???? ?????!$? ?????"? ??@??????!$????????!??? ??#?????????!????? ???!?????????????????????????!?????????!?? $?????????!?!????"????????!$??!???????????????????%????? ??????? ?????????????!$?????? ????????? ,4?;)?192)-.4-?,4?678/490:1????????$?????????"??!?????!$???????$?????!???? ????????????????????"?????c????!??!????!???n%????????????!???????????c????!??!?? ?????"? #??????????????!$??? ?????????c????!??!???? ?????!???????????????????!???????!?????!???$???? ?????????!???????????????????? ?????????????!????!??!??"??!?????!$?????????????"???????????? $??#?!$????????!???#?c????!??!???$?!???????!??!???????????????????????????????????????!?? $??????!???????c????!??!???? ?????!????!???$?!??????!????????!?????????????!$??????? ??!????!?"??!????????_??????!???????????? ????? ????????????????????!????!?"?????????!? ?????? ??"???#??????????????!??$????!??????????????? ????!?????!?????????????????!?? $??????!???#???????????!???????!!????????!?????!???? ?????????????????%!????????!"????????????? ?!??$??????!???#???????????????? ????!?????!???????????????????????????? ??"????????? ?!???? ???????????????????????!??$??????!???#???????????????????????$!??#!????? ???????????????? ?????????e???????????????????????? ????????? ??????? ???????????? ??!??"??????? ????????????? ????????#????????? ????!?????!????????????????????? ?????????????!???????????d????? ??????!? ?!????????????????c????!??!???????????!$??????????????????? ? o]OYKZPVSOPKTV?STU?SWWZNUPOSOPKTV [?????????????????!?????????????!???!??????????????!????? ? ??????????????!?????%!? ?????????"??????????????_????????????%??p@?????????????? ??????????? ?????????????????????????!?c????!??!???%??p?????!???q??!????????????q??!???????????????? _?????????%?>? ????????!???????%??p?????????????? ?????????????!?????????????????????!?? ??$???$????!????????!????????????????#????????????????????????????!????????!???????????!? c????!??!???!????????!?g?!????????????h??????????>?????????????????????!?????!??????????? !?#????????????????c????!????!????????????????!???!??????????????!??????#?????>???????? !??$????!?????????????????#????????????????????!?????????!?????????????????!???!?? ????????????!???????_???????????? ?????!??????????????!?????????????????????????????!? ???????!???????????????!?????????????????!????!??????????????????????!?c????!??!??#????? ???????????????????????????????????d??? ??????!????!????!?!????? ???????!??? ?? ???????????????????? ??????? ? ??????? !?"????$??%&??’? ?(!&??!?)??!?% ???$??%&??’? ????? !??& *?+,-.?/0?1????? ??.???2?.????3??3?????0??/???4???5?????67?+,-.?/0?8??????.?????3?????4?????7??????????/???4???9? +,-.?/0:??5/??3?????30?7?3?3???.???30????3???/.0?5???02????.???4;????0??<1????4????.???5???? .?3=?.??0>??4??????/???4?????3???????7???+,-.?/09??30?5???1????3??/??9??/?1??/???4?????3??????? ??????.???2?.???1???>???4??8??1?????;???.???3?????????4??7?5??8??3??1????4?3?1???30?7?2???????@?? 67?+,-.?/0?8??????.?????3?????4?????7??1?????/???4?????3??????9??????;??????3?9????3?3=???30? 7?3?3???.???30????3???/.0?5???02????.???4;????0??63??00????39??7??3?????4?????7??1??????3?????????? 3?????3?8?0?/;?3??A;?????30?+,-.?/0????/3?5.??????00?3?8??/???4???9?????5/??3???9?7?3?3???.? ??30????3??30?7?3?3???.?;??7??4?3?????/.0?5???02????.???4;????0??3??1??7/?/??? ? B("C"?D????!?? !???!?)? ??!"??E?D??’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‘? ???F? !?"?a?‘"&?? D *?+,-.?/0????????3?.??????5.??1?0??30?1???.???.???;??????3?.??????? RL??RWY?TG?H?RLGPO?b??]L?L\L?P?N????I?TUVO?PWXG?KPGN?LGG?SOH??QH[??HcL?O??dLR????H?]NLML??]H?? ;.?33?0??30??1?????????7?0??3=????4???5??1?=1????1?3?5/0=???0??+,-.?/0:???;??????3?.?5/??3???? ;.?3???e/?????/;7??3????;???.??32???4?3?9??30??1??????3?5??3?????/??3????1????/5??e/?3?? ?5^????2???8?..?5????1??2?0??+????0?3=.?9?+,-.?/0?4???3??0????????????;???.??=??3??3??1??3???? 7/?/??9??30?8??1?7?8????;??????3?.??5^????2?????1??2?09?81??1?4???1?2???3??02??????77?????3? TUVO?PWXG?G]HRL?SRN?LY ? f?g??%&??’? ?%F?!E???$?&? h"?? *?+?.?????7??/???4???0?4?30??30??==?????2????4;??????3? ??POW?ONQN??TUVO?PWXG?HKNON?[????H?]NLML?WLGNRLW?RH?LG??I?RL?PR?????N?MLG?QL??b?H?W?]HML?H? 4??????.??02??????77?????3??1??=??8?1?;???;??????30i???7?3?3???.?;??????3??7?+,-.?/09?81??1?4??? ??/???+,-.?/0??????e/????7/??1???7/30?3=??+,-.?/0?8?..???3??3/?????????????4???=?????1?????????? 5???A??/??3=?????5/??3????;.?3?8??1??77????3????30?0?.?2???3=?+,-.?/0:????????=???2????3? ? j%?)"?a?!?)??!F"?!C *?<1????3??3/?0?=??8?1??7?+,-.?/0???.?????3??/???4?????e/??????3?? -?;???.??????e/???0????4??3???3??30?=??8??1???A????3=????13?.?=??;.??7??4??+,-.?/0???e/????? ?/77????3??????????????;???.????7/30??1????A;?30??/???????./???????5???3???;???.??3?7?2?/??5.?? ?LRQG?QH[?]N?WLR?TUVO?PWXG?HKNON?[????L\SH?W?H?W?SPRGPL?dR?k?]??SS?R?P?N?NLGb?k]N?]?QH[? ??0/?????4;?????2?3?????30?1?2???3??02??????77?????3??1??7?3?3???.?;??7??4?3??9?;??????3??30? dR?k?]?SR?GSL??G??I?TUVO?PWY?TUVO?PWXG?????N?PLW?HKNON?[????NQSOLQL???N?G?KPGN?LGG?SOH?? ?77????2?.???2?????4??4???0?;?30??3?;?????3??????5?.?????????????7/?/???7/30???<1???????3?? ???/??3????1????00????3?.?7/30??8?..?5???2??.?5.???3??1??7/?/??9??30i???5?????/??0??3? ?????3?5.????44?????.????4???67??0?e/????7/30??????3????2??.?5.?????3????2??.?5.???3? ?????3?5.????44?????.????4???3??1??7/?/??9??1?3?+,-.?/0?4???3???5???5.???????????02?3??=?? ?7??;;???/3?????9?0?2?.?;?3?8??0?????????1??8???????;?30??????4;?????2??;????/???? ? l??? %F?"??&?????F? !?"??&m?"??C%)"?a?"?$ !&? %??% ??!?)????‘??C?aD?$!"C% ? *? +,-.?/0???/.0?5???A;???0?????1???9?4?0?/4????.?3=>???4??3????/;???3????????????2????9???4?? ?7?81??1????;??2?0?0?5???1??0?;????????+,-.?/0?4???5??/3?5.?????0?.?2????????2????????????/.???7? 3/4???/??7??????9??3?./0?3=* ? 1/4?3??????n ? ;?8???.???n? ? ?4;??;???4??3??3?3???5???3???????3?????.???0????+,-.?/0n? ? ;1?????.?????.?????3??????/?????5????1??n ? 7???9?????1e/???9?1/?????3?9?7.??0??30???1???3??/??.?0????????n ? 8?????0?4?=?n ? ?3??3???3?.?0?4?=??????1??3??8?????7??4?2?30?.??4n ? ????0?3??.?0?4?=??????1??3??8?????7??4???2?.?8????n? ? 8??9?????????4??30??3????.???0???37.??????????4?.????2?3???8??.08?0?n??30 ? ??5???=???30?2?30?.??4? ?? ???????????????????? ??????? ? ???????!??"?#??$%$?& ’?(?)?*+?,????-?.+????/???????*??0?*1????2?+-??3???.????,? ???0*?-?1???-??**?/????*4?*?5?2??+.????*???+.????*?4?+??-?*?*1?2???????*+??/?-/?*1??*+.????? ???*+??+?4??)?*1?????0???,????????6?5???-.???*???*+?*?5????0*?-?1???,??*???*+????7????*1? ??-.???*???*+????/??????3??-???4??7?????/?-??????-???????0??5????.*)??????3-???8???????.-?4??0?? ?.???????,?89:-?.+?+?2?*+???*?89:-?.+?3??*1??3-????????2?.2?5??0??0??-?????????0*?-?1???-? 2??1??????*+????+?/?-?2??????;.?????*+??*??1?????*?5????0*?-?1?????*???????2??+.????,,???*1?? 8+/?*?????*????0*?-?1???-?????;.????89:-?.+??????))???????.????????+?/?-?2?*1??????;.???*1? ?*+??0?*?+?2-???*1?*?5????0*?-?1????,???.????*??2??????*?? ? =??!"??@?&?!?"?%%?#"A?%?>B$>?B"&?%!#??=$B=???C?"?#??$%$?& ’?89:-?.+???-???? ?*???-????*?0?2??5??0??????*??--???.?-?2??2?????-???*??????*+????0*?-?1??2???*???4?,??)?50?)???? DE?F?GFG??IF?JEKI?????LGF?MNJ?E?LDNJ?E??FDDF??LND?MJ?MFJ?O?N?P??F?I??D?KOQ?RSTD?LPUG?NVEDE?O???? ?,,????????-?.+????/????????+?2?*+?*???*??????3?-???????.???2?????.-????*??--???.?-?2??2??????*+? ???0*?-?1?4??*+??*???0?*1???*??0???3?-???????.??????2????????0???*??--???.?-?2??2?????89:-?.+? JFDEFG????WNO?INXF?N??FYYF??????RSTD?LPUG?YL?LJF?YE?N??END?MFJY?JWN??F?N?P?M?GE?E??Q ? Z?=AB??#? ’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‘a‘B!#??h?&?i%A#"A?"? ’?89:-?.+?????.3j????????0??1?*???-?)????????????0??? ????*0???*???*??--????.??????????+?+??*??????????7?0?*1???k0???)??????.-???*?,-.??.????*???*????? ?0????2??????0???????*????72-??*?+?3???0??,.*+?)?*??-??2??????*???*+?????/???????,?89:-?.+?? k0???????*??1.???*?????0????0??2??????,?89:-?.+l???0?????5?--??*???????,?--?5?*1??0??m,,??4? ?/?*??,?89:-?.+l?????*?*1???*????????89:-?.+l???0?????)??????+????4??3?/?????3?-?5??0??m,,??? 2?????+.???????*.)3????,?,??????4??*?-.+?*1’ ? 1?*???-?)????????*+????*?n? ? ,-.??.????*???*??0??-???-??*+?1-?3?-?)??????,???-????+???????n? ? ?0?*1??????1?/??*)?*??2?-???4?-?1??-????*??????1.-????*n? ? ?*?-.???*??*??????)?/?-?,??)?2?????.-???)???????*+?????o?*?-.+?*1?pqrs8pt??*+????un??*+? ? ?0??*??.????,??0??)????????*?50??0?89:-?.+??2??????? m?0???,????????0???)???*?1???/?-???,,?????*/????????*??)?*???*+??*,-.?*???89:-?.+??2???,???--?? ????0????????)??????)????1?*???--???*?-.+????????,?????????)4??*??.?3??????,??*???*????*?-? 0????-?????4???/?-?.*????4?,????4?,-??+?4?????0;.????4?-?3?.?????????4???/?-?5???4?*??.??-?+????????4? ?.?3???????,?+????????????0???)?*v)?+?????*??.??-??/?*??? ? wB?C!???!??bf?%$ACg=?=??B?=?h?&??$"?x??%!yA!C ’?k0??????*?3??*??1.???*?????0????0???? 5?--?3???*?????/??)??????,???89:-?.+l???0?????,?--?5?*1???)2-????*??,??0??m,,????k0????)???3?? ??-???/?-??,?5?2???*???-?3.??????????--?????,?89:-?.+l???0??????*?8pt?????*??1?/?*???)???k0??? )????*????????0??/?-???-?????,??0??)??????2??????,?89:-?.+l???0??????z??)????-????,,?????0?? 2??/??-?*1?)??????2????????50??0??0???0?-+?????????3-???????--??0????89:-?.+??0??????k0?????.-+? ???.-???*??0???0?-+?????????/?*1???)??????2?????,????0????89:-?.+??0??????0??????-?????0?*??0?? 2??????0????0???2??+???.??0??4??22??7?)???-??{|??}~??,?89:-?.+l???0????4?2?????????0???;.???? ?????*14???)??*??.3j????????????5?????*1?)?*??4?50??0?5?--???+.????0??-?;.?+?????,????+?*1??*? 89:-?.+l???0?????,????0??+.?????*??,??0???????5?2????+?o?????.*??-??{?(???)3???????u??8? ??1*?,???*????-???,?2??/??.?-???????5?+?89:-?.+??0????4?????0??2????2???*??0????.?0???-??0??? ???.???+????)?10?????.?4???.-+??+/????-???,,?????0??2??????,?89:-?.+l???0????? ? d??B??$%C?B=?h?&?=Aii?B?C!%A"!$? ’?89:-?.+?)??????.??)?????0??????*??0??,.?.????*???+??? ???,.*+???;.??????*??????*/???)?*???????????+.???????+?3????0?-??89:-?.+?5?--???*??*.?????3?? ?.3j????????0????*?????*????,??0??8pt??????*1??.-?????1??+?*1??0??2????*??1???,???????2???-??0??? ???????3-????????.??5??0?*??????)?*?0?2????+?o??0????0?*?50?????7??2???*???22-?u4??*???.?0? ?;.?????????*1??)???+?-.????0???*?????????,??0???0?-+???? ? w???"!$??#?????=?h?&?$##AB ’?k0????7????*??????)?*??,????0???0?-+???????+?2?*+?*??.2?*? ?0????7?-?5?????.???*?-???*????+??*?8.????-????:0?*1????*???7???????)2?+.???-?5?????0?*1????*? ?0??5?????7???????)2?+.???-?5?????72????+????3???*???2????+??*?8.????-???)????+/????-???)2???? 89:-?.+l?????.?*??????0??+?/?+?*+??2??+?3??89:-?.+?????0???0?-+?????8*??*/???)?*???*? 89:-?.+??0??????*/?-/?????7???*??+??????*???0???+?,,???,??????0??*/???????z*/??????????? ?*??.??1?+?????????2??,?????*?-???7??+/?????*???**?????*?5??0??*???*/???)?*???*?89:-?.+? ?? ???????????????????? ??????? ? ??????? ?"#?#$???%?&?’?()*?&+??+??#$ ,?-?????.??????/?.????.??0???1????.?????.???.????2??? 3??4??567????.8??????/?.????92?0?3??4??567????.8??????/?.????.:?7:???.?4.??.5?2.?.?4.? ?????;?2.??????.??????.5???0???3????????0???/?????2????0?????2?7????27??;?1??3??/?.????.5? ??0??:?/?.????3?<=-7?25????5?33???/??????77??3??/??.??32?2??????27??;?1??3??/?.?????? ??0??:?/?.????>1?????5?????/17??5??.??2?0?3??4??567????.8??????/?.??????:?.??0???? 2.??????.????;?1???1????:???.:????????0?275?.???17????2.52????7??.????.??2?0?3??4??567????.8? ?????/?.????@.??55????.;?2.5???.??????2/???.?????0?275???3??4??567????.8??????/?.??A?? ??8??5?5????????1????.?????.????4????.???A??<=-7?25?????.????0???1????.???3????5?????.??0??? 1????.?????.??0?????1?????27????2???/?????32?2????:?.?????82???.???5? ? B(?)???+"??CD()????E)&F? ,?-7?/?????0?.8??1????.?????1???.???77??/??????7?????????<=-7?25?? G0???.??????.8???:???????3???2???4???0????:?.???H?2?0????0???4?:??;????7?.????.5?????/?I? J?K??MN??O???POQJ?R?OQSJ??T?QJU?JVVR???WXYP?ZK[T?SN?SRN?U??J?K?JTT??OJ?RK???QQZ?O?ORT?? ?0??280?10?????7?5?/?8?;??1?????.8??????;??.5??A?7??????????5?;?3????>?/17???G0??????2??? 4???0????:?.???/???A???255?.??.5???2??????/????8??52?7??.?.??2?????????>?/17?;?1??1????? /???A??5?/?8?5?A??????/?????37??5?.8?40??0???\2??????>??.??:????1??????<7???.???:?7?;??2117?? ?0??.??/???A??5???21??5??G??.?????.?.8??????7?4??6???A?.????.?/??/????.???7??>??.??:?? 1?7???;?7?8?7;????0.?7?8???.5?/???????0?.8???????55?????/???8????.??.5??5?1???.???\2???/?.??? ??7???5?????7?/?????0?.8???G0????/?????\2????<=-7?25?????.?2????????????55??????0???? ?0?.8????G0?????.?????.??????7?4????A?.????.?/??/????.?A7??<=-7?25???????7?????11???2.?????? ?2?0??????52??.8???????7??.????.??0???7??????????8??5?A??8?.?????.8??.???????.?4?A7???.??8?? 40??0??7???1????????????A2??.????3??/?32?2????.??8??/???????.5?1?7????2.??????.??? ? ]^_B‘abc ,?G0?????.?/?????.??3?-de@f6gh??.5??33??????????.???.??????1???5?0?:??????.?7?? ???27??5??.??.???.????.?7;?.????.?7??.5?7???7?A??5????7???.8?;????:?7???????????.?;???8.?3???.?? 5???21???.?????A2??.?????1??????.?;??2117???0??.???.5??2???/???????:?????.5?5?/?.5?? 9?8.?3???.??2.??????.?????/??.??4??0????1????????0??32?2????/1?????3?-de@f6gh??.?<=-7?25i?? A2??.?????G0???:???77???:???????.5?52?????.??3?-de@f6gh6??7???5??5:??????/1??????.? <=-7?25i??A2??.????4?77?5?1?.5??.?32?2???5?:?7?1/?.???40??0???..???A??1??5????5;??.?725?.8? j???????3??/??8?.??j?5??7??????.???.5???0???5??????:????3?8?:??./?.???.5?12A7???0??7?0? ?2?0?????????k:?.??3?????0??-de@f6gh??2?A?????0????2A??5?5;?<=-7?25?/?????.??.2????? ?>1????.???/??????7??5:??????/1????????????A2??.?????;?3????>?/17?;?????????27???3???52????.?? ?.???:??./?.???1?.5?.8??.??2???2???.8?H????????27??A258???1????2???I;?5?7?????.?5??????.? /???.8???;?/????8?.???77?;???5???????????.??3?4??754?5?????5????.5?3?.?.???7?/????????0??? ??275?7?/???<=-7?25i???A?7????????A???.?32.5?.8? ? l+$???()m?#$???%?&?’?()*?+??#$ ,?k:?.???/??????2??4??0?.?????2???5??<2????7????0?????275? ?/1????21?.??0??87?A?7??.5?<2????7??.????.?/???;??0???1??????.???3?<=-7?25??.5??0??1??????3? <=-7?25i???0??????G0?????:?.????.?725??A2??????.???7?/???5??????????3?????????/;??2?A???????3? ?.???.????.?7?0????7?????;???:?7?2.????;?3????;?37??5?;?????0\2????;?7?A?2?????????;???:?7?4???;? .??2??7?5????????;??2?A???????3?5????????????0???/?.6/?5?????.??2??7??:?.????0?????.?0?:???.? ?5:??????33?????.?<=-7?25i???A?7?????????.52???????A2??.???? ? ???+’#$???+?F?&?$)C???+&+(D???+& D?D+&’ ,?G0???1?????.8??.5?3?.?.???7?1??3??/?.????3? <=-7?25?????.372?.??5?A????:????????3?8?.???7?5?/???????.5?87?A?7????.?/????.5?A2??.???? ??.5????.???0????????2???5???0????.???7??3?<=-7?25???@=)*)AB ,?????????????????????????????????????????? ????????????????????-??????????????C?????????????????????????????????????? ??????????D??9????2???????"??? 1EF?? 3GH6?$I’7????????????????????????????????????????????????????????????????C??????????????????????#???????????????????????";2??????????????????????????????? ???????C?????????????!????????????????????????????????????????!????????????????????????D2?"??????????? ??????????D??9????2???????3???????????J?????7?K#?!?????? ???????1EF/ ??J????????????????????K??????!????J???? ????????????????!??????????????????????????????????C???????3???????????????????-?????????????????????????????? ???????C??????7????????????????, ? ????????-???!????????????????????????!??????????????????L?????????????F?????????D2?"??M? ? !???????????-???!????????-??????????????????????????????????N?????????????F?????????D2?"??M? ? ????????????????????!??????????????????O?????????????F?????????D2?"??M? ? ???????-???!??????????????????????!?????????????????PE?????????????F?????????D2?"??M???? ? ?????????????????-?????????????????!?????????????????PF?????????????F?????????D2?"??? ?? ??????????? ???? ?????????? ????? ????????????????????????????????????? ? ? ??????????? ?!"???"??????? "???" ?#$ ???????????#"%"??"?$???" ?&’ ???????????&?????((????’??"?%??" ??# ???????????????????#??"??????" ??’ ????????????"??????"??????’?)"??("???? ?((?????? ??* ????????????"??????"??+,?-???" ??????????????????????????????? ??????????????????????????????????????-"?????-???????)"?.???????"("????????"??!???-"????? ??$ ????????"??("??????????-??????????$??("/??0 1’ ????????1????????’??????? #’?& #"%"??"?’?????????"???????&?????( ?&2??? ???.-????&???"??????2??????????"?)??" ’??? ’?%??????????"???????"?)??" ’ 3 ’?%??(?????????? ?((??????????3"?-?????? ’4?& ’?%??(???????"???????4"????"?"?????"??????&?????( ’?5 ’?%??(???????"???????5????? 1+*3# 1+*3# ?6"????"??7????????1???8?&???9???:? 1?;<??<@AB???/-????C?/?"????!?????????%?1+*3# ?9?(??"??:? 1?8?>?
Information on this Website is provided for general information purposes only and is not a substitute for professional advice. ASX Information (including company announcements and prices) is delayed by at least 20 minutes. JSE Information (including company announcements and prices) is delayed by at least 15 minutes. Reliance on the information you access on or from this Website is solely at your own risk. We make no representation or warranty in relation to the future performance of the companies that appear on this Website. Investment in securities involves risk and you should obtain independent professional legal, financial, investment or company advice before acting on any of the information you access on this Website. Using, browsing or otherwise accessing this Website is subject to our Terms and Conditions and our Privacy Policy.

© 2021 Listcorp. ABN 60 166 140 307

Never miss news from Sovereign Cloud Holdings Limited (ASX:SOV) when you join Listcorp.