COVENTRY GROUP LIMITED — Capital/Financing Update 2018

Sep 27, 2018

ABN 37 008 670 102

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ASX Announcement

Not for release to US news wire services or distribution in the United States

235 Settlement Road Thomastown Vic 3074 PO Box 526, Thomastown 3074

Tel: (03) 9205.8223 Fax: 1800 008 592 www.cgl.com.au

Coventry Group Limited (ASX: CYG)

28 September 2018

SUCCESSFUL COMPLETION OF PLACEMENT & INSTITUTIONAL ENTITLEMENT OFFER

Coventry Group Limited (ASX: CYG) is pleased to announce that it has successfully completed the institutional component of the fully underwritten accelerated non-renounceable entitlement offer ( Institutional Entitlement Offer ) and institutional placement ( Placement ) announced on 26 September 2018, raising approximately $10.8 million.

The retail component of the entitlement offer ( Retail Entitlement Offer ) will open on Wednesday, 3 October 2018 and is expected to raise approximately $4.2 million, providing a total equity raising of $15.0 million.

The Placement, Institutional Entitlement Offer and Retail Entitlement Offer are underwritten by Bell Potter Securities Limited.

Placement and Institutional Entitlement Offer

The Placement and Institutional Entitlement Offer was strongly supported by existing and new institutional shareholders. Approximately $6.4 million (approximately 5.6 million shares) was raised under the Placement, and $4.4 million (approximately 3.7 million shares) was raised under the Institutional Entitlement Offer. The shares under the Placement will be issued within Coventry Group's Listing Rule 7.1 placement capacity.

Shares issued under the Placement and Institutional Entitlement Offer are issued at the same price as the Retail Entitlement Offer ($1.15 per share) and are expected to be allotted on 5 October 2018.

Retail Entitlement Offer

Eligible shareholders may participate in the Retail Entitlement Offer at the same price ($1.15 per share) and offer ratio (1 new share for every 5 shares held) as the Institutional Entitlement Offer. Eligible shareholders' entitlements will be determined according to their ownership of shares on the record date for the Retail Entitlement Offer (7pm (Melbourne time) on Friday, 28 September 2018).

Further details in relation to the Retail Entitlement Offer will be provided in the retail offer booklet, to be despatched to eligible shareholders on Wednesday, 3 October 2018. The offer closes at 5pm (Melbourne time) on Friday, 12 October 2018.

Retail shareholders with questions about the Retail Entitlement Offer should call the Coventry Offer Information Line on 1300 763 414 (from within Australia) or +61 3 9415 4000 (from outside Australia) between 8:30am and 5.00pm (Melbourne time), Monday to Friday during the retail offer period (Wednesday, 3 October 2018 to Friday, 12 October 2018).

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CYG shares are expected to resume trading on ASX from market open today (Friday, 28 September 2018).

For further information, please contact:

ROBERT BULLUSS CEO (03) 9205 8219

Not for release or distribution in the United States

This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state securities laws.

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