ikeGPS Group Limited — Capital/Financing Update 2021

Nov 2, 2021

Proposed issue of securities

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Announcement Summary

Entity name

IKEGPS GROUP LIMITED

Announcement Type

New announcement

Date of this announcement

1/11/2021

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
IKE	ORDINARY FULLY PAID FOREIGN EXEMPT NZX	790,771

Proposed +issue date 3/11/2021

Refer to next page for full details of the announcement

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Proposed issue of securities

Part 1 - Entity and announcement details

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1.1 Name of +Entity

IKEGPS 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.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type

ARBN

Registration Number

615503145

1.3 ASX issuer code

IKE

1.4 The announcement is

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New announcement

1.5 Date of this announcement

1/11/2021

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 Do any external approvals need to be obtained or other conditions satisfied before the placement or other type of issue can proceed on an unconditional basis? No

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

IKE : ORDINARY FULLY PAID FOREIGN EXEMPT NZX

Number of +securities proposed to be issued

790,771

Offer price details

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

Please describe the consideration being provided for the +securities

The issue is part of the acquisition price for certain assets of PowerLine Technology Inc as per the asset purchase agreement entered into and disclosed to the market on 27 September 2019. The allotment is made up of:

1. the third of three tranches of USD$250,000 (AUD$332,857) of IKE ordinary shares at NZD$0.60 (AUD$0.57).

2. the second tranche of deferred consideration of USD$90,000 (AUD$119,828) of IKE ordinary shares at NZD$0.60 (AUD$0.57).

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities

452,685.000000

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Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

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Part 7C - Timetable
7C.1 Proposed +issue date
3/11/2021
Part 7D - Listing Rule requirements
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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 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

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7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue
N/A
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Part 7F - Further Information

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7F.01 The purpose(s) for which the entity is issuing the securities

The issue is part of the acquisition price for certain assets of PowerLine Technology Inc, as previously disclosed to the market on 27 September 2019.

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

7F.3 Any on-sale of the +securities proposed to be issued within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of:

Not applicable - the entity has arrangements in place with the holder that ensure the securities cannot be on-sold within 12 months in a manner that would breach section 707(3) or 1012C(6)

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