COVENTRY GROUP LIMITED — Capital/Financing Update 2019

Feb 25, 2019

ASX Announcement

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

Coventry Group Limited (ASX: CYG)

26 February 2019

COMPLETION OF RETAIL ENTITLEMENT OFFER

Coventry Group Limited ( Coventry ) (ASX: CYG) is pleased to announce the successful completion of the retail component ( Retail Entitlement Offer ) of its 1 for 1.37 accelerated non-renounceable prorata entitlement offer of new fully paid ordinary shares in Coventry ( Shares ) as announced on 5 February 2019 ( Entitlement Offer ). The Entitlement Offer is fully underwritten by Bell Potter Securities Limited ( Underwriter ).

The Retail Entitlement Offer closed at 5.00pm (Melbourne time) on 21 February 2019 raising approximately $2.8 million at $0.75 per Share. Together with Shares issued under the institutional component of the Entitlement Offer, the total amount raised under the Entitlement Offer (after the Underwriter's commitments are met) will be approximately $27.6 million.

The Retail Entitlement Offer had a take-up rate of acceptances of entitlements and applications for additional Shares by eligible retail shareholders of approximately 21.9%. The shortfall under the Retail Entitlement Offer of approximately 13.35 million Shares will be settled by the Underwriter.

Shares issued under the Entitlement Offer will rank equally with existing Shares on issue. Shares issued under the Retail Entitlement Offer are expected to be allotted on 28 February 2019 and to commence trading on the ASX on 1 March 2019.

The Board of Directors of Coventry wish to thank shareholders for their support of the Entitlement Offer.

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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