COVENTRY GROUP LIMITED — Capital/Financing Update 2020

Sep 22, 2020

Proposed issue of securities

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Announcement Summary

Entity name

COVENTRY GROUP LIMITED

Announcement Type

New announcement

Date of this announcement

Wednesday September 23, 2020

The Proposed issue is:

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A placement or other type of issue

Total number of +securities proposed to be issued for a placement or other type of issue

Maximum Number of ASX +security code +Security description +securities to be issued CYGAA PERFORMANCE RIGHTS 1,424,504

Proposed +issue date

Monday November 2, 2020

Refer to next page for full details of the announcement

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Proposed issue of securities

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Part 1 - Entity and announcement details

1.1 Name of +Entity

COVENTRY GROUP LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

1.2 Registered Number Type

ACN

Registration Number

008670102

1.3 ASX issuer code

CYG

1.4 The announcement is

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New announcement

1.5 Date of this announcement

Wednesday September 23, 2020

1.6 The Proposed issue is:

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A placement or other type of issue

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Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 - Are any of the following approvals required for the placement or other type of issue? +Security holder approval Court approval Lodgement of court order with +ASIC ACCC approval FIRB approval Another approval/condition external to the entity Yes

7A.1a Conditions

Approval/Condition Date for determination Is the date estimated or ** Approval actual? received/condition met? +Security holder approval Thursday October 29, 2020 Actual No

Comments

Out of the proposed issue of 1,424,504 Performance Rights to eligible participants, 418,535 Performance Rights will be issued to the Managing Director following shareholder approval at the 2020 AGM. A notice of meeting containing further details of the proposed issue will be circulated to shareholders on 25 September 2020.

Part 7B - Issue details

Is the proposed security a 'New Will the proposed issue of this class' (+securities in a class that is +security include an offer of not yet quoted or recorded by ASX) attaching +securities? or an 'Existing class' (additional No securities in a class that is already quoted or recorded by ASX)? Existing class

Details of +securities proposed to be issued

ASX +security code and description

CYGAA : PERFORMANCE RIGHTS

Number of +securities proposed to be issued

1,424,504

Offer price details

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Are the +securities proposed to be issued being issued for a cash consideration? No

Please describe the consideration being provided for the +securities Nil consideration. Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes Part 7C - Timetable 7C.1 Proposed +issue date Monday November 2, 2020 Part 7D - Listing Rule requirements 7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? Yes 7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1 Thursday October 29, 2020 7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? Yes 7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No 7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No Part 7E - Fees and expenses

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7E.1 Will there be a lead manager or broker to the proposed issue? No 7E.2 Is the proposed issue to be underwritten? No 7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue Not applicable Part 7F - Further Information 7F.01 The purpose(s) for which the entity is issuing the securities An incentive or reward for eligible participants under the Executive and Director Incentive Plan for achieving certain performance objectives.

7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No

7F.2 Any other information the entity wishes to provide about the proposed issue

A notice of meeting containing further details of the proposed issue will be circulated to shareholders on 25 September 2020.

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