VERIS LIMITED — Capital/Financing Update 2019

Apr 15, 2019

ASX/MEDIA RELEASE - VRS

16 April 2019

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VERIS AGREES NEW BANKING FACILITIES WITH CBA

Veris is pleased to announce it has agreed commercial terms with Commonwealth Bank of Australia ( CBA ) for revised financing facilities totalling $34.9 million, with a maturity date of 30 November 2020.

The new banking facilities allows Veris to continue to grow its strong national presence in the Surveying and Professional Advisory sectors as well as support the growth of its technology business, Aqura.

Approval of the proposed facilities is subject to formal review and documentation.

Veris’ proposed facilities with CBA are summarised below:

Facility	Proposed $
Acquisition Facility	17,000,000
Cash Advance Facility-B	2,405,000
Equipment Finance Facility	7,000,000
Corporate credit card Facility	500,000
Overdraft Facility	5,500,000
Bank Guarantee Facility	2,500,000
Total Proposed Facilities	34,905,000

Commenting on the Banking facilities, Managing Director, Adam Lamond, said:

“We are pleased that we have reached agreement with CBA in relation to our ongoing finance facilities and appreciate the bank’s support of Veris’s national business. The proposed facilities are a testament to the strong relationship we have developed with our financiers and their belief in our strategy. These facilities will provide funding support for growth and working capital, in order to advance our strategy.”

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For further information please contact: Veris Corporate Office Tel (08) 9317 0628

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