EPX Acquires Wattwatchers & Placement Capacity

• EPX signs Deed of Company Arrangement to acquire Wattwatchers Pty Limited
• Receives $2.14 million commitments for placement from existing and new institutional investors
• Offers Share Purchase Plan to existing eligible shareholders to raise up to $700,000

EPX Limited (ASX: 'EPX') has signed a Deed of Company Arrangement (DOCA) and satisfied all conditions to acquire Wattwatchers Pty Limited. The company has also received commitments from existing and new institutional shareholders to raise $2.14 million through a placement of new fully paid ordinary shares. EPX will offer a Share Purchase Plan (SPP) to existing eligible shareholders to raise up to an additional $700,000. The proceeds from the placement and SPP will be used to fund the Wattwatchers acquisition, assess further M&A opportunities, continue investment in future state technology, and for general working capital. The acquisition price for Wattwatchers is $1.05 million, to be settled with $550,000 in cash and $500,000 in EPX ordinary fully paid shares. The placement will result in the issue of 8,572,000 new shares at an issue price of $0.25 per share, representing an approximate 20% discount to the 20-day VWAP. The SPP will also be offered at the same issue price of $0.25 per share. EPX's CEO, John Balassis, said the acquisition of Wattwatchers will add proprietary functionality and capability to the business to meet customer needs in sustainability and building performance.