WAM Microcap Limited (ASX: $WMI) Share Purchase Plan

WAM Microcap Limited (ASX: $WMI) is providing its shareholders with the opportunity to participate in the Share Purchase Plan (SPP) announced on 2 April 2024. The company aims to raise $75.0 million between the SPP and Placement, with the capital to be invested in undervalued growth opportunities identified by the investment team. Shareholders can purchase up to A$30,000 worth of fully paid ordinary shares at a 4.3% discount to the current share price without incurring brokerage or transaction fees. The SPP opens on 3 April 2024 and closes on 22 April 2024, with the opportunity to apply online or using the Application Form provided.

Executive Commentary on Share Purchase Plan

The Company is raising $75.0 million through the SPP and Placement to invest in undervalued growth opportunities identified by the investment team. The SPP provides existing shareholders with the opportunity to acquire shares at a 4.3% discount to the current share price without incurring brokerage or transaction fees. The proposed allocation policy for oversubscriptions will favor long-term, loyal shareholders, and the Company is raising less than the heavily oversubscribed 2020 SPP and Placement. The Board of Directors intends to offer existing WAM Microcap professional and sophisticated investors the ability to participate in a Placement at the same price and under the same terms as the SPP.

Summary of Share Purchase Plan

WAM Microcap Limited (ASX: $WMI) is offering its shareholders the opportunity to participate in the Share Purchase Plan (SPP) to raise $75.0 million, with the capital to be invested in undervalued growth opportunities identified by the investment team. Shareholders can purchase up to A$30,000 worth of fully paid ordinary shares at a 4.3% discount to the current share price without incurring brokerage or transaction fees. The SPP opens on 3 April 2024 and closes on 22 April 2024. The Company aims to allocate the oversubscriptions to favor long-term, loyal shareholders and intends to offer existing professional and sophisticated investors the ability to participate in a Placement at the same price and under the same terms as the SPP. The new shares issued under the SPP and Placement will rank pari passu with existing ordinary shares, and shareholder approval is not required in relation to the SPP or the Placement. The proceeds of the additional capital will be invested into select opportunities identified by the investment team, and the Company's larger capital base is expected to increase liquidity and reduce the fixed expense ratio to the benefit of all shareholders.