SHINE JUSTICE LTD — M&A Activity 2022

Apr 25, 2022

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26 April 2022

Shine Justice Ltd (SHJ) Sale of Emanate Legal Services Pty Ltd

Shine Justice Ltd has entered into a share sale agreement under which it has agreed to sell Emanate Legal Services Pty Ltd ( Emanate ) to Strand Legal Services Pty Ltd ( Strand ), a company controlled by the principal of Emanate, Barry Taylor ( Agreement ).

Emanate was acquired by Shine Justice in 2014 and has operated in the challenging land access, energy and resources sector, with impairments taken against the goodwill attributed to the business announced by Shine Justice in February 2017 and February 2019.

The sale of Emanate is consistent with the growth strategy and direction of the Shine Justice Group. As previously announced, we are pursuing organic and acquisition growth opportunities that meet our investment criteria and anticipate strong growth in several of our practice areas, including personal injuries, class actions, abuse law and medical law.

Consideration for the sale is anticipated to enable Shine to recover its investment in Emanate, subject to collection of work in progress and debtors on Emanate files (some of which is contingent) over a 5 year period. Shine Justice will have review rights in relation to the collection of work in progress and debtors and will take security over Emanate's work in progress and debtors and a guarantee from the Emanate principal.

Completion is expected to occur in late April 2022, with an effective date of 1 July 2021.

Authorised for release by the Board

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Annette O’Hara Company Secretary Shine Justice Ltd

Tel: 07 3837 9448 aohara@shine.com.au

For more information

Simon Morrison, Managing Director & CEO - Shine Justice Ltd 07 3837 9435

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