ACF.ASX: Results of Share Purchase Plan

Results of Share Purchase Plan

Stock	Acrow Ltd (ACF.ASX)
Release Time	23 Jul 2026, 8:43 a.m.
Price Sensitive	Yes

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Acrow Ltd Completes Share Purchase Plan

Key Points

Successful completion of Share Purchase Plan (SPP)
$16 million raised, exceeding the underwritten amount
Funds to be used for debt repayment
New shares to be issued on July 23, 2026
Tranche 2 of Placement pending shareholder approval

Full Summary

Acrow Ltd has successfully completed its Share Purchase Plan (SPP), raising $16 million from approximately 1,500 eligible shareholders, significantly exceeding the underwritten amount of $10 million. The SPP was fully underwritten by Morgans Corporate Limited and Shaw and Partners Limited. The Board exercised its discretion to accept $16 million in SPP applications, $6 million above the underwritten amount. The additional funds will be applied to further debt repayment, strengthening the Company's balance sheet. Approximately 18.8 million new fully paid ordinary shares will be issued at an issue price of $0.85 per share. Trading of the new securities is expected to commence on Monday, 27 July 2026. Tranche 2 of the Placement remains subject to shareholder approval, which will be sought at the Company's Extraordinary General Meeting on Wednesday, 29 July 2026.

Outlook

Acrow Ltd anticipates continued balance sheet strengthening and efficient project delivery through its national network and local expertise.