NEXTED GROUP LIMITED — Capital/Financing Update 2015

Oct 18, 2015

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| ASX Announcement
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19 October 2015

Australian Securities Exchange Limited

Via e - lodgement – ASX Code ICT

Non-renounceable Rights Issue and proposed selective buy-back of Performance Shares

The Directors of iCollege Ltd (“ICT or the Company”) are pleased to announce the Company has entered into an agreement with stockbroker DJ Carmichael Pty Limited (“DJC”) to raise circa A$1,700,000 via a proposed 1 for 4 Non-renounceable Rights Issue at a price of A$0.10 with a free attaching ICTO listed option on a 1 for 2 basis.

The Offer Document will be dispatched to Eligible shareholders following the Record Date 29 October 2015. Offers of securities under the Rights Issue will be made in, or accompanied by a copy of, the Offer Document. Eligible shareholders should consider the Offer Document in deciding whether to acquire securities under the Rights Issue. Eligible shareholders who want to acquire securities under the Rights Issue will need to complete the personalised entitlement and acceptance form that is in or accompanies the Offer Document.

The capital raised will be used to:

• market and integrate existing course offerings;

• invest in training initiatives with corporates, government and peak industry bodies; and

• general working capital

A copy of the Offer Document will be provided to shareholders based on the following indicative timetable;

Lodgment of offer document with ASX	23 Oct 2015
Ex date	27 Oct 2015
Record date for entitlements	29 Oct 2015
Opening date and dispatch of offer document to shareholders	4 Nov 2015
Closing date of offer	17 Nov 2015
Allotment of shares and dispatch of holding statements	24 Nov 2015

iCollege Ltd ABN 75 105 012 066 ASX: ICT

P: (08) 6380 2555 F: (08) 9381 1122 Email: admin@icollege.net

Suite 1 Ground Floor 437 Roberts Road Subiaco WA 6008

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The Company is confident that this capital raising, being completed with the support of DJC will provide sufficient working capital to enable the recently restructured executive team to establish ICT as a significant enterprise in the rapidly growing listed education sector.

The Directors also advise that it is commencing a selective buy-back of 4,500,000 Performance Shares from Performa Capital Pty Ltd. This will be subject to shareholder approval by special resolution at the upcoming AGM. A deed of termination and release is being prepared by the Company, Performa Capital Pty Ltd and Mr Victor Hawkins, where it has been agreed that the Performance Shares be bought back by the Company for the total consideration of $1.

For further Information:

Mr Ross Cotton

Executive Chairman

iCollege Limited

+61 (0) 419 870 363 ross@icollege.net

Mr Davide Bosio

Managing Director

DJ Carmichael Pty Limited

+61 8 9263 5210 dbosio@djcarmichael.com.au

About iCollege Limited:

iCollege (ASX: ICT) is a training organisation positioning itself to become one of Australia's leading Vocational educators. iCollege has grown substantially since it inception in 2014 through targeted acquisitions and growth among its current portfolio companies. iCollege charges itself with the vision to assist students and workers to remain relevant in an ever-changing employment environment. iCollege is working to provide pathways to employment for all successful graduates, providing opportunity to participate in growth industries in Australia. iCollege provides a blended learning environment incorporating, innovative and unique technology solution designed to make the learning experience more flexible, dynamic and mobile.

P: (08) 6380 2555 F: (08) 9381 1122 Email: admin@icollege.net

iCollege Ltd ACN 75 105 012 066 ASX: ICT

Suite 1 Ground Floor 437 Roberts Road Subiaco WA 6008

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