JAYRIDE GROUP LIMITED — Capital/Financing Update 2020

Oct 20, 2020

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ASX Announcement

21st October 2020

Jayride Successfully Completes Equity Placement to Support Growth Strategy

Jayride Group Limited (ASX:JAY) (“​ Jayride”​ or the “​ Company”​ ) the world leading online travel marketplace for airport transfers, is pleased to announce that it has completed a placement of 10,000,000 fully paid ordinary shares at $0.15 per share to sophisticated investors to raise ​ $1.5 million​ (​ “Placement”​ ). Shareholders are offered the opportunity to participate in a Share Purchase Plan to raise up to ​ $1.0 million​ (​ “SPP”​ ) at the same price as the Placement.

Highlights

• $1.5 million capital raised in Placement supported by existing and new institutional and sophisticated investors

• SPP to be offered to eligible shareholders at Placement price to raise up to $1.0 million, for $2.5 million total funds

• Strong endorsement of Jayride’s growth strategy with ongoing cyclical recovery, an enhanced competitive position, and the positive structural shift to online bookings for airport transfers

Mr Rod Bishop, Managing Director noted,​ “We are delighted with the support for the Placement from both existing and new investors. The offer was fully subscribed. We are pleased to provide eligible shareholders with the opportunity to participate in the SPP at the same price as the Placement. With the proceeds of this capital raise, Jayride is now well funded to capture market share and benefit from structural tailwinds as the global travel recovery continues.”

All 10,000,000 Placement Shares will be issued under the Company’s Listing Rule 7.1 capacity. Settlement of the Placement is scheduled to occur on 28th October 2020 and quotation of the new shares is expected on the following day.

The funds raised will provide working capital for Jayride to execute its growth strategy.

Jayride Group Limited (ACN 155 285 528)

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SPP

In order to give all existing shareholders an opportunity to invest at the same price as the Placement, the Company will offer shareholders the right to participate in a Share Purchase Plan. The SPP gives eligible shareholders the opportunity to purchase shares in the Company without brokerage or other related charges.

The record date to participate in the SPP is 20th October 2020. Shareholders who hold JAY shares and are registered on the record date will be able to participate in the SPP.

The Offer price is at the Placement price of $0.15 per Share.

Shareholders can purchase shares totalling up to $30,000. All shareholders can participate, including shareholders that have participated in an SPP in the previous 12 months. The Company is relying on ASIC relief allowing shareholders of a company to participate in a proposed share purchase plan – even if they had participated in an SPP in the last 12 months – which resets the $30,000 limit.

Shares issued under the SPP will rank equally with existing shares.

Indicative Dates for Share Purchase Plan*

Record Date	20th October 2020
Announcement of the Share Purchase Plan	21st October 2020
Documents mailed to eligible shareholders	27th October 2020
SPP Opens – Opening date for acceptances	27th October 2020
SPP Closes – Closing date for acceptances	9th November 2020
Announcement of results	11th November 2020
Issue of new shares	16th November 2020

• Dates are indicative only and subject to change

Full details of the SPP and Application Forms will be sent to all eligible shareholders on 27th October 2020.

Jayride Group Limited (ACN 155 285 528)

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For more information please contact

Rod Bishop Managing Director Email: corporate@jayride.com

ASX release authorised by Rod Bishop, Managing Director, Jayride Group Limited.

About Jayride Group Limited (ASX:JAY)

Jayride.com is the world’s leading publicly listed airport transfers marketplace, where travellers compare and book rides around the world. With Jayride.com, travellers can compare and book with 3,700+ ride service companies, servicing 1,600+ airports in 110+ countries around the world, including the Americas, Europe, Middle East, Africa, Asia and the Pacific.

The Jayride.com platform aggregates ride service companies and distributes them to travellers at Jayride.com; and via travel brand partners including other technology platforms, travel agencies and wholesalers. These travel brands implement Jayride APIs to sell door–to–door ride services that build traveller confidence and defend their core travel business.

Founded in 2012, Jayride.com is headquartered in Sydney, Australia.

For more information, please visit www.jayride.com

Forward-looking statements

This announcement contains forward-looking statements that involve risks and uncertainties. Indications of, and guidelines or outlook on, future earnings, distributions or financial position or performance and targets, estimates and assumptions in respect of production, prices, operating costs, results, capital expenditures, reserves and resources are also forward-looking statements. These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions and estimates regarding future events and actions that, while considered reasonable as at the date of this announcement and are expected to take place, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, the directors and management. We cannot and do not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this announcement will actually occur and readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements are subject to various risk factors that could cause actual events or results to differ materially from the events or results estimated, expressed or anticipated in these statements.

Jayride Group Limited (ACN 155 285 528)

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