EILDON CAPITAL LIMITED(EDC)

delisted following compulsory acquisition under Listing Rule 17.14

we understand Samuel Terry Asset Management Pty Ltd as trustee for the Samuel Terry Absolute Return Active Fund was successful with an offer of $0.875 per EDC stapled security

The securities of Eildon Capital Group will be suspended from quotation at the close of trading on 18 November 2025 under Listing Rule 17.4, following despatch of the compulsory acquisition notices by Samuel Terry Asset Management Pty Ltd as trustee for Samuel Terry Absolute Return Active Fund.

The suspension of trading in the securities of Eildon Capital Limited will be lifted immediately, following the release of EDC's announcement regarding the completion of implementation of the stapling transaction.

The restructure has been implemented. The ordinary shares of Eildon Capital Limited have been stapled to the ordinary units of Eildon Capital Trust, with the stapled securities commencing trading on the ASX on 27 April 2020. On completion of the restructure, Eildon Capital Fund has a total of 45,483,392 stapled securities on issue. Commencing 1 May 2020, eligible security holders will be able to tender their shares to be bought back at $1.09 per stapled security.

On 20 April 2020, security holders of the Company approved resolutions to staple ordinary shares in the Company to units in a newly established fund, Eildon Capital Trust to create stapled securities. After the implementation of the Stapling Transaction, each existing security holder of the Company will hold a new stapled security comprised of one fully paid ordinary share in the Company and one fully paid ordinary unit in the Trust. The Trust is expected to be admitted to the Official List of ASX either on the evening of Friday, 24 April 2020 or prior to trading commencing on Monday, 27 April 2020. Official quotation of the Stapled Securities is expected to commence on a normal (T+2) settlement basis on Monday, 27 April 2020 at which point the new stapled entity will trade as Eildon Capital Fund.

The company releases an Announcement of buy-back - Appendix 3C.

All conditions to the restructure (apart from those conditions that cannot be satisfied until implementation of the restructure), and including the "˜ATO Ruling Condition', have been satisfied. On 24 April 2020, the ordinary units in Elidon Capital Trust will be stapled to the ordinary shares in the company. ASX will admit the Trust to the official list after implementation of the stapling on 24 April 220, and securities in the stapled group will commence trading on 27 April 2020. The restructure and stapling includes a distribution to shareholders of Eildon Capital Limited that will be compulsorily applied to subscribe for units in Eildon Capital Trust. The actual distribution will be 91.31 cents as the directors have determined that Eildon Capital Limited will need to retain an investment that was previously planned to be transferred to Eildon Capital Trust. Following the completion of the restructure and buy back they will publish the final tax rulings in respect of the restructure and buyback. Following the completion of the restructure and stapling, the tender period for the buyback will commence on 1 May 2020.

The company releases its EGM Presentation.

The securities of Eildon Capital Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of EDC, pending the release of an announcement regarding implementation of the stapling transaction.

listed entity carried for record purposes only