IKEGPS GROUP LIMITED — Capital/Financing Update 2020

Nov 1, 2020

Proposed issue of securities

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Announcement Summary

Entity name

IKEGPS GROUP LIMITED

Announcement Type

New announcement

Date of this announcement

Monday November 2, 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
IKE	ORDINARY FULLY PAID FOREIGN EXEMPT NZX	855,346

Proposed +issue date Tuesday November 3, 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

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.

1.2 Registered Number Type

ACN

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

Monday November 2, 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

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No

Part 7B - Issue details

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class

Will the proposed issue of this +security include an offer of attaching +securities? No

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

855,346

Offer price details

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

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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 second of three tranches of USD$250,000 (NZD$377,358, AUD $355,358) of IKE ordinary shares at NZD$0.60 (AUD$0.57).

2. the first tranche of deferred consideration of USD$90,000 (NZD$135,849, AUD $127,929) 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 483,288.000000

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

Tuesday November 3, 2020

Part 7D - Listing Rule requirements

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

Part 7F - Further Information

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

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