SCIDEV LTD — Capital/Financing Update 2020

Jul 15, 2020

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Unit 1 8 Turbo Road Kings Park NSW 2148 Australia ABN 25 001 150 849

Email: admin@scidev.com.au Website: www.scidev.com.au ASX code: SDV

Companies Announcements Office Australian Stock Exchange

16 July 2020

Successful AUD$5m Placement with AUD$2m Shareholder Purchase Plan to follow

SciDev Limited (ASX: SDV) (‘ SciDev ’ or the ‘ Company’ ) is pleased to advise that it has received binding commitments from two major institutional investors to subscribe for 7,692,308 shares at an issue price of $0.65c per share to raise $5m (the Placement ). The Placement was taken up in full by two leading Australian Fund Managers, one being Perennial Value Management.

SciDev will also undertake a Share Purchase Plan (SPP) to raise up to a further $2m at $0.65 per share.

The funds from the Placement and SPP will be put towards:

• The upgrade of the Kings Park facility to build capacity for the supply of SciDev chemistry into the domestic infrastructure and mineral processing sectors.

• An increase in raw material and inventory holdings to deliver into recent contract wins and growing demand for SciDev chemistry.

• Contribution of funds to capitalise the strategic Joint Venture with Nuoer (ref ASX 27 April 2020) targeting Chinese State-Owned operations outside of the PRC.

Placement Details

The Placement will result in the issue of 7,692,308 shares at an issue price of $0.65c per share to raise $5m before the costs of the offer. The issue price of $0.65 per share represents a 5.1% discount to the Company’s last traded price of $0.685 per share, an 11.5% discount to the 5 day VWAP of $0.735 per share and a 8.9% discount to the 10 day VWAP of $0.714 per share.

The Placement is being undertaken within the Company’s existing capacity under ASX Listing Rules 7.1 (5,889,928 shares) and 7.1A (1,802,380 shares).

The Placement and the full allocation of shares under the $2m SPP will results in approximately 10,769,231 new shares being issued, representing ~7.6% of the Company’s existing company’s shares on issue.

Settlement of the Placement is expected to occur on the 24 July 2020, with the issues and trading of the new Placement shares expected to commence on that day.

The Company also advises that it will be undertaking a Share Purchase Plan ( SPP ) following completion of the Placement. The SPP will be offered to eligible shareholders to raise up to a further $2m at the same issue price as the Placement and is scheduled to close on Friday, 14 August 2020.

Taylor Collison Limited acted as lead‐managers to the Placement.

The details and timing of the SPP are provided below.

SciDev’s Managing Director and Chief Executive Officer, Lewis Utting said: “On the back of another strong cashflow quarter, the opportunity to accelerate business growth initiatives whilst maintaining prudent operating debt levels underpinned our decision to raise capital. Funds raised will be directed towards sound business initiatives and position the Company for strong performance in FY2021.”

Share Purchase Plan

SciDev will give eligible shareholders who were on the Company’s share register at 7.00pm (AEST) on Wednesday, 15 July 2020 and having a registered address in Australia or New Zealand an opportunity to subscribe for new fully paid ordinary shares (‘SPP Shares’). Eligible shareholders will be entitled to acquire up to $30,000 of SPP Shares at an issue price of $0.65c, being the same issued price under the Placement. Participation in the SPP is optional and will give eligible shareholders the opportunity to increase their shareholding without paying brokerage fees or other transaction costs, irrespective of the size of their shareholding.

Full details of the Share Purchase Plan, including offer letters and the entitlement and acceptance form, will be sent to eligible shareholders on Friday, 24 July 2020. A copy of the SPP documentation will also be lodged with ASX.

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Indicative timetable

The key dates for the Placement and SPP are as follows:

Event	Date
Record Date for SPP (7:00pm AEST) Announcement of Placement and SPP Settlement of Placement Issue of Shares under Placement Opening Date for SPP Closing Date for SPP (5.00pm AEST) Announcement of results of the SPP Issue Date for SPP and Lodgement of Appendix 2A	15 July 2020 16 July 2020 24 July 2020 24 July 2020 24 July 2020 14 August 2020 17 August 2020 21 August 2020

The timetable is indicative only and subject to change. The Directors reserve the right to amend the above dates at their discretion and without notice, subject to the ASX listing Rules and Corporations Act.

On behalf of SciDev Limited

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Lewis Utting Managing Director and Chief Executive Officer

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Heath Roberts Company Secretary

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For Further Information:

Corporate

Investors

Lewis Utting - Managing Director & Chief Executive Officer

Craig Sainsbury – Market Eye

Heath Roberts - Company Secretary

(+61) 02 9622 5185

craig.sainsbury@marketeye.com.au 0428 550 499

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About SciDev

SciDev is a leader in the development and application of services, chemistry and process control for solids-liquid separation. SciDev brings together world-class technology, chemistry, management and manufacturing capabilities to solve pressing operational and environmental issues for the Mining, Water Treatment, Oil & Gas and Construction markets.

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