ASSET VISION CO LTD — Capital/Financing Update 2021

Sep 26, 2021

Level 11, 410 Collins Street Melbourne, Victoria Australia, 3000 www.futurefirsttech.io

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+61 3 9682 2699

27 September 2021

ASX ANNOUNCEMENT

ENTITLEMENT OFFER TO RAISE UP TO $6.4 MILLION

Future First Technologies Ltd ( ASX: FFT ) ( FFT or the Company ) is pleased to announce a 1 for 3 prorata non-renounceable entitlement offer of fully paid ordinary shares ( New Shares ) to raise up to approximately $6.4 million ( Offer ).

The Offer price of $0.045 per share represents a 15.1% discount to the last traded price of FFT shares on 24 September 2021.

Hennessey Capital Partners Pty Ltd is acting as the lead manager to the Offer. The Offer is not underwritten.

Proceeds from the Offer (after costs) will be used for working capital to accelerate organic growth initiatives and to pursue potential future strategic acquisitions.

The Company also advises that it has commenced a formal strategic review in regard to its Farmbuy.com assets to assess a range of commercial and restructuring options aimed at realising the underlying value of the Farmbuy.com business. The Company will keep shareholders and the market updated as to any actions it takes as a result of the strategic review.

About the Offer

The price for the Offer is $0.045 cash per New Share ( Offer Price ). Under the Offer, eligible shareholders will be able to subscribe for 1 New Shares for every 3 existing fully paid ordinary shares held at 7:00pm (Melbourne Time) on 30 September 2021 at the Offer Price.

Entitlements are non-renounceable and will not be tradeable on ASX or otherwise transferable. Shareholders who do not take up their entitlements will not receive any value in respect of those entitlements that they do not take up.

In addition to being able to apply for new shares under the Offer, eligible shareholders will also have the ability to apply for additional new shares in excess of their entitlement that are not subscribed or by other eligible shareholders under the Offer at the Offer Price.

Eligible shareholders will receive an information letter and a retail offer booklet ( Offer Booklet ) including a personalised entitlement and acceptance form, which will provide further details of how to participate in the Offer. A copy of the Offer Booklet will also be lodged with the ASX. Those Shareholders who FFT determines to be ineligible shareholders will also be notified.

The directors have reserved the right to place any shortfall in their discretion within 3 months of close of the Offer.

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FFT’s CEO, Keith Falconer, said “The Company’s recent announcement regarding the acquisition of EagleSoft has strengthened the organic growth opportunities in our Asset Vision business and funds raised under this rights issue will be used to accelerate a number of opportunities that are presenting themselves. Funds raised will also be directed to fast-tracking the technical integration of EagleSoft’s intelligent data capture technology into the Asset Vision platform. We expect to see strong growth across the business and this rights issue provides our loyal shareholders with an opportunity to maintain their respective holding in the Company.”

KEY DATES

EY DATES
Event	Date
Announcement of the Offer	Before 10.00am (Melbourne time) Monday, 27 September 2021
Lodgement of Appendix 3B, Offer Booklet and Cleansing Notice	Before 10.00am (Melbourne time) Monday, 27 September 2021
Shares traded on an “ex” entitlement basis	Wednesday, 29 September 2021
Record Date for eligibility to participate in the Offer	7:00pm (Melbourne Time) on Thursday, 30 September 2021
Despatch of Offer documents and entitlement and Acceptance Form to eligible shareholders	Friday, 1 October 2021
Offer opens	Monday, 4 October 2021
Offer closes	Thursday, 21 October 2021
New Shares quoted on deferred settlement basis	Friday, 22 October 2021
Shortfall (if any) announced to the ASX	Wednesday, 27 October 2021
Allotment, Issue and Trading of New Shares under the Offer	Wednesday, 27 October 2021
Despatch of Holding Statements	Thursday, 28 October 2021

All dates are indicative only and subject to change. All times and dates refer to times and dates in Melbourne, Australia. Subject to the requirements of the Corporations Act 2001 (Cth) , the ASX Listing Rules and any other applicable laws, FFT reserves the right to withdraw or vary the timetable without notice.

CONTACT

Keith Falconer Renata Sguario CEO Chairman Future First Technologies Ltd Future First Technologies Ltd keith@futurefirsttech.io renata@futurefirsttech.io

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