• Successful completion of A$143M institutional component of ANREO
• A$50M strategic placement to Mitsubishi Corporation
• Retail Entitlement Offer expected to raise A$309M

Eagers Automotive Limited (ASX:APE) has announced the successful completion of the institutional component of its approximately A$452 million underwritten 1 for 12 accelerated non-renounceable entitlement offer (Entitlement Offer). The Institutional Entitlement Offer raised approximately A$143 million at an offer price of A$21.00 per new share, and was well supported by institutional shareholders with a take-up of over 98% by eligible institutional shareholders. Eagers has also announced a A$50 million strategic placement to Mitsubishi Corporation, with the new shares under the Strategic Placement being issued at A$18.00 per share. The Retail Entitlement Offer is expected to raise A$309 million, including the pro-rata entitlement for Nick Politis, a Director of Eagers, and entities associated with him of approximately A$128 million. Nick Politis and entities associated with him have committed to subscribe for 100% of their pro-rata entitlement. The balance of the Retail Entitlement Offer is fully underwritten. The new shares under the Institutional Entitlement Offer and the Retail Entitlement Offer will be issued at the offer price of A$21.00 per share, representing a 28.4% discount to the last traded price, a 26.5% discount to the TERP, and a 26.6% discount to the 5-day VWAP.