• Swoop holds 22.8% stake in Vonex
• Intends to vote in favor of Vonex acquisition by MaxoTel
• Scheme will result in $6.17 million cash proceeds for Swoop

Swoop Holdings Limited ('Swoop') has acknowledged the announcement that Vonex Limited (ASX: VN8) has entered into a Scheme Implementation Deed with Maxo Telecommunications Pty Ltd ('MaxoTel'), under which MaxoTel proposes to acquire all remaining shares in Vonex for 3.60 cents per share by way of a scheme of arrangement ('Scheme'). As Vonex's second-largest shareholder, holding 22.8% of issued shares (indirectly via its wholly owned subsidiary, Swoop Telecommunications Pty Ltd), Swoop confirms it has provided a voting intention statement to Vonex in support of the Scheme. In the absence of a superior proposal, Swoop intends to vote all of its 171,282,368 Vonex shares in favour of the Scheme. If the Scheme is approved, this will result in total cash proceeds of approximately $6.17 million for Swoop, delivering a clean exit from its investment in Vonex. Upon completion of the Scheme, Swoop will no longer hold an equity interest in Vonex. This outcome allows Swoop to focus on its core growth priorities, and frees up capital for redeployment into other strategic initiatives or acquisitions.