PRAEMIUM LIMITED — M&A Activity 2020

Sep 20, 2020

21 September 2020

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Praemium’s intention to undertake compulsory acquisition of Powerwrap

Praemium Limited (“ Praemium ”) refers to its recommended off-market takeover offer for all the issued shares of Powerwrap Limited (“ Powerwrap ”) (the “ Offer ”), as set out in Praemium’s Bidder’s Statement dated 22 July 2020, as supplemented by the First Supplementary Bidder’s Statement dated 14 August 2020, the Second Supplementary Bidder’s Statement dated 28 August 2020 and the Third Supplementary Bidder’s Statement dated 14 September 2020 (together, the “ Bidder’s Statement ”).

Capitalised terms which are not defined in this announcement have the meaning given to them in the Bidder’s Statement.

Praemium’s intention to undertake Compulsory Acquisition

The Offer is scheduled to close today at 7:00pm (Melbourne time). As at the date of this announcement, Praemium has a relevant interest in 92.31% of Powerwrap Shares. As Praemium has a relevant interest in more than 90% of Powerwrap Shares, it intends to compulsorily acquire the outstanding Powerwrap Shares on issue, on the same terms as the Offer.

Compulsory acquisition notices will be dispatched to all Powerwrap Shareholders tomorrow who have not accepted the Offer by the close of the Offer Period today. A copy of the compulsory acquisition notice will be lodged with ASIC tomorrow.

Further Information

For further information regarding the Offer, please refer to the Bidder’s Statement and Powerwrap’s Target Statement dated 31 July 2020 (as supplemented by the First Supplementary Target Statement dated 4 September 2020), which were sent to Powerwrap Shareholders and are available on the ASX.

Full details on how to accept the Offer are set out in Sections 1.2 to 1.5 of the Bidder’s Statement. If there are any further questions on how to accept the Offer, please call Praemium’s Offer Information Line on 1800 992 039 (from within Australia) or +61 1800 992 039 (from outside Australia) Monday to Friday between 8:30am to 5:30pm (Melbourne time).

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ENDS

This announcement is authorised by the Board of Praemium Limited

For further information contact Paul Gutteridge, CFO & Company Secretary, Ph: 1800 571 881

About Praemium (ASX:PPS) Praemium is a global leader in the provision of technology platforms for managed accounts, investment administration and financial planning. Praemium services in excess of 300,000 investor accounts covering over $140 billion in funds globally for more than 1,000 financial institutions and intermediaries, including some of the world’s largest financial institutions.

Praemium Limited (ABN 74 098 405 826), Level 19, 367 Collins Street, Melbourne VIC 3000 Australia.