IGNITE LIMITED — Capital/Financing Update 2019

Apr 30, 2019

Ignite Limited ABN 43 002 724 334

Level 9, 1 York Street Sydney NSW 2000 t. 02 9250 8000 www.igniteco.com

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1 May 2019

Sale of Unmarketable Parcels of Shares Facility Sale of Shares

Ignite Limited (ASX: IGN) advises that, following the Close Date of the Unmarketable Parcels Share Sale Facility (“Facility”), the broker appointed to sell the parcels of shares (“Sale Shares”), Taylor Collison Limited (“Taylor Collison”), has successfully placed the total number of Sale Shares, 2,608,336 shares, at $0.069 per share.

This means that each holder of the Sale Shares will receive $0.069 per share with no deduction for brokerage or any other selling costs.

It should be noted that:

• The sale price of $0.069 per share is 57% above the last sale price prior to the Record Date.

• The last sale price prior to the Record Date for determining those shareholders initially entitled to sell under the Facility at 4 March 2019 was $0.044 per share.

• The last sale price at the Close Date (24 April 2019) was $0.067.

• Taylor Collison advised the Directors that;

  • The 30 Day Volume Weighted Average Price (“VWAP”) before the Facility was announced was $0.052.

  • The VWAP through the offer period was $0.064.

  • In Taylor Collison’s opinion, the sale price of $0.069 was the highest possible price - a condition under the Company’s Constitution for such a sale .

• The shareholders whose Sale Shares were sold under the Facility comprise those shareholders who held an unmarketable parcel at the Record Date (based on a share price of $0.044 per share), other than:

  - Those shareholders who subsequently submitted a Retention Notice; 
  
  - Those shareholders who no longer held an unmarketable parcel at the Close Date of 24 April 2019 as a result of either: 
  
     - The sale of their shares, or 
  
     - The purchase or consolidation of shares such that they no longer held an unmarketable parcel at the Close Date, or 
  
     - As a result of an increase in the share price at the Close Date (to $0.067) they no longer held an unmarketable parcel at the Close Date. 
  

Payment to shareholders will be made as soon as practicable after receipt of the sale proceeds into the Computershare trust account.

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Shareholder and Analyst Enquiries

Mr Garry Sladden Executive Chairman t. (02) 9250 8000

About Ignite

Ignite Limited (ASX: IGN) is a company limited by shares, incorporated and domiciled in Australia and listed on the Australian Securities Exchange.

For more than 30 years Ignite has been using its deep industry expertise and extensive relationships to unite permanent, contract and temporary workers with government, non-government entities and private clients of all sizes throughout the Asia Pacific region. In Australia, these segments are Specialist Recruitment, On Demand and People Services whilst in China Ignite focuses solely on Specialist Recruitment.

Ignite operates in 10 cities across Australia and China and employs more than 200 people.