Aussie Broadband's Superloop Shareholding Update

Aussie Broadband Limited (ASX: $ABB) has received a notice from Superloop Limited (ASX: $SLC) directing ABB to dispose of the legal and beneficial ownership in 37,621,056 fully paid ordinary shares in Superloop, or such lesser number as is required to give ABB voting power in Superloop of less than 12% (Excess Shares), within 10 business days of the date of the notice.

Executive Commentary on Superloop Shareholding Update

ABB's inadvertent failure to comply with the requirement in the Superloop Constitution at the time of acquiring the 19.9% interest in Superloop has led to the receipt of a notice from Superloop directing the disposal of the Excess Shares. ABB is providing the required information for the IMDA to make its assessment pursuant to the relevant Singaporean legislation framework. ABB is currently considering its options in respect of the Notice.

Summary of Superloop Shareholding Update

Aussie Broadband Limited (ASX: $ABB) has been directed by Superloop Limited (ASX: $SLC) to dispose of the legal and beneficial ownership in 37,621,056 fully paid ordinary shares in Superloop, or such lesser number as is required to give ABB voting power in Superloop of less than 12% (Excess Shares), within 10 business days of the date of the notice. ABB's inadvertent failure to comply with the requirement in the Superloop Constitution at the time of acquiring the 19.9% interest in Superloop has triggered this action. ABB is providing the required information for the IMDA to make its assessment pursuant to the relevant Singaporean legislation framework. The company is currently considering its options in respect of the Notice.