Overview of Auswide Bank's recent announcement

Auswide Bank Ltd (ASX:ABA) has successfully completed its Share Purchase Plan (SPP), raising approximately $3.0 million. The SPP, which closed on Wednesday, 11 September 2024, received valid applications totaling approximately $15.7 million from 1,165 eligible shareholders. The proceeds from the SPP will be used to fund Auswide's immediate regulatory CET1 capital requirements upon the acquisition of Selfco, Selfco's expected asset growth for ~12 months, and transaction costs relating to the acquisition of Selfco and the Offer.

Executive commentary on the completion of the SPP

The completion of the Share Purchase Plan marks an important step for Auswide Bank in securing the necessary funding to support our strategic initiatives. The strong participation from eligible shareholders demonstrates their confidence in our growth plans and the value we aim to create. We are committed to prudently utilizing the proceeds to strengthen our regulatory capital position and facilitate the anticipated asset growth following the acquisition of Selfco.

Summary of Auswide Bank's SPP completion and outlook

Auswide Bank (ASX:ABA) has successfully raised approximately $3.0 million through the completion of its Share Purchase Plan (SPP). The strong participation rate from eligible shareholders reflects confidence in the company's strategic direction. The proceeds will be utilized to bolster regulatory capital requirements and support anticipated asset growth following the acquisition of Selfco. The completion of the SPP aligns with Auswide Bank's commitment to prudent financial management and strategic expansion. Shareholders can anticipate the issuance of approximately 750,000 New Shares under the SPP on Wednesday, 18 September 2024, with trading expected to commence on Thursday, 19 September 2024.