• Elph Investments increases offer price to 31 cents per share
• Substantial shareholders have accepted the offer
• Recommending Directors now unanimously recommend shareholders accept the offer

Engenco Limited (Engenco) has issued a supplementary target's statement in response to the off-market takeover bid by Elph Investments Pty Ltd (Elph Investments). Elph Investments has increased its all-cash offer price from 30.5 cents to 31 cents per Engenco Share (Increased Offer Price) and has declared that this Increased Offer Price is final and will not be increased. The Increased Offer Price automatically applies to all Engenco Shareholders who accept the Offer, including those who have already accepted. Engenco also notes that its two substantial shareholders Thorney Investment Group Pty Ltd (10.76%) and RAC & JD Brice Superannuation Pty Ltd (5.47%) appear to have accepted the Offer. As a consequence, Elph Investments' relevant interest in Engenco Shares has now increased to 88.98%. Having regard to these developments, the Recommending Directors consider that the Increased Offer Price of 31 cents per Engenco Share represents the most attractive outcome available to Engenco Shareholders, particularly when measured against the risks of remaining as a minority shareholder. Accordingly, the Recommending Directors now unanimously recommend that Engenco Shareholders ACCEPT the Offer.