JAYRIDE GROUP LIMITED — Capital/Financing Update 2021

Jun 16, 2021

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ASX Announcement

17th June 2021

$10M Placement to Support Growth Strategy

$1M Share Purchase Plan on Placement Terms

Jayride Group Limited (ASX:JAY) (“ Jayride” or the “ Company” ) the world leading global travel marketplace for airport transfers, is pleased to announce that it has undertaken a placement of 47,620,000 fully paid ordinary shares at $0.21 per share ( “New Shares” ) to institutional and sophisticated investors to raise $10.0 million ( “Placement” ) and is launching a Share Purchase Plan to raise up to $1.0 million ( “SPP” ) on the same terms as the Placement.

Highlights

• $10.0 million capital raised in placement with strong support from new and existing sophisticated and professional investors

• SPP to be offered to eligible shareholders at Placement price to raise up to $1.0 million, for $11.0 million total funds

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

Managing Director, Rod Bishop, said “We are delighted with the support for the Placement from both existing and new investors. 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 and retain market share as the global travel recovery continues to accelerate in the Northern Hemisphere.”

Existing shareholders will have the opportunity to subscribe for shares under a Share Purchase Plan on the same terms as the Placement.

Placement

The Placement was only offered to sophisticated and exempt investors as defined by section 708 (8), (10) and (11) of the Corporations Act 2001. It was conducted at an issue price of $0.21 a share, an 18% discount to the 10-day VWAP prior to the Placement.

Jayride Group Limited (ACN 155 285 528)

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The New Shares will be issued in two tranches. The table presents the number of Shares to be placed under the Company’s Listing Rule 7.1 and 7.1A capacities to the extent permitted under the Listing Rules ( “Tranche One” ), with the balance of New Shares to be issued subject to approval by Shareholders at a forthcoming EGM ( “Tranche Two” ).

Tranche and Listing Rule / Shareholder Approval	Shares
Tranche One – LR 7.1	2,300,000
Tranche One – LR 7.1A	10,800,000
Tranche Two – Shareholder Approval LR 7.1	34,520,000

Tranche One is scheduled to occur on Wednesday 23rd June 2021 and quotation of the new shares is expected on the following day. Tranche Two is scheduled to occur following the EGM to approve the issue.

Veritas Securities Limited acted as Lead Manager for the Placement.

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 SPP is subject to non-participating shareholders approving the issue of the SPP Shares at the EGM scheduled to be held on 27th July 2021.

The record date to participate in the SPP is 16 June 2021. Shareholders who hold JAY shares and are registered on the record date will be able to participate in the SPP.

The price for the SPP Shares is at the Placement price of $0.21.

The SPP is capped to a total of $1.0 million and priority will be given to small allotments in the event of the offer being oversubscribed.

Shareholders can apply for SPP Shares totalling up to $30,000, however subscriptions cannot exceed $30,000 pursuant to a Share Purchase Plan in any 12-month period.

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

Jayride Group Limited (ACN 155 285 528)

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Indicative Dates for Share Purchase Plan*

Record Date	16th June 2021
Announcement of the Share Purchase Plan	17th June 2021
Documents mailed to eligible shareholders	29th June 2021
SPP Opens – Opening date for acceptances	29th June 2021
EGM to approve SPP Shares issue	27th July 2021
SPP Closes – Closing date for acceptances	28th July 2021
Announcement of results	29th July 2021
Issue of new shares	29th July 2021

• Dates are indicative only and subject to change

Full details of the SPP and Application Forms will be sent to all eligible shareholders on or around 29th June 2021.

For more information please contact

Rod Bishop

Managing Director Email: corporate@jayride.com

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

Jayride Group Limited (ACN 155 285 528)

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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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