E&P Financial Group's successful completion of conditional placement

E&P Financial Group Limited (ASX:EP1) has successfully completed a conditional placement of 125,000 convertible notes at a face value of $100 per note, raising $12.5 million. The placement, made to wholesale investors, includes over 90 EP1 executives, EP1 Directors, and Mercury Capital. The proceeds will be used to partly fund an off-market equal access buy-back, subject to shareholder approval.

Executive Commentary on Conditional Placement

We are pleased to have received binding commitments for the convertible notes and free-attaching options, representing a majority of the commitments from EP1 executives, EP1 Directors, and Mercury Capital. The successful completion of this conditional placement demonstrates the confidence and support from our investors. The proceeds will be utilized to partly fund an off-market equal access buy-back, subject to shareholder approval, which aligns with our strategic capital management initiatives.

Summary of Conditional Placement and Future Plans

E&P Financial Group (ASX:EP1) has completed a conditional placement of $12.5 million through the issuance of 125,000 convertible notes at a face value of $100 per note. The company plans to utilize the proceeds to partly fund an off-market equal access buy-back, subject to shareholder approval. The successful completion of the placement reflects investor confidence and support in the company's strategic initiatives. The upcoming extraordinary general meeting on 24 October 2024 will play a crucial role in determining the future capital management initiatives, including the delisting of EP1 from the official list of the ASX and the off-market equal access buy-back for up to $25,000,000. E&P Financial Group remains committed to its corporate strategy and aims to enhance shareholder value through prudent capital management and strategic financial decisions.