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Ten Successfully Completes Retail Shortfall Bookbuild

Ten Network Holdings Limited (ASX:TEN) (“TEN”) announced today that it has completed the retail component of its fully underwritten 7-for-37 accelerated renounceable entitlement offer of new TEN shares (“New Shares”) (“Retail Entitlement Offer”). The Retail Entitlement Offer has raised approximately $21 million from the issue of approximately 141 million New Shares at an issue price of $0.15 per New Share (“Offer Price”), excluding the pre-commitments from four of TEN’s largest shareholders to take up their pro-rata entitlements. This represents the final stage of TEN’s entitlement offer of $77 million as announced on Monday, 26 October 2015 (“Entitlement Offer”).

Approximately 79 million entitlements, representing retail entitlements not taken up and the entitlements that would otherwise have been offered to ineligible retail shareholders, were offered for sale under the retail shortfall bookbuild, which was conducted after market close on Tuesday, 17 November 2015 (“Retail Shortfall Bookbuild”).

The Retail Shortfall Bookbuild priced at $0.16 per New Share. As the Retail Shortfall Bookbuild priced $0.01 above the Offer Price, eligible retail shareholders who elected not to take up their entitlements together with ineligible retail shareholders will receive payment of $0.01 in respect of each entitlement not taken up and sold into the bookbuild.

The settlement date for the Retail Entitlement Offer and the Retail Shortfall Bookbuild is Friday, 20 November 2015. The New Shares are expected to be issued on Monday, 23 November 2015 and commence trading on ASX on Tuesday, 24 November 2015.

Shareholder Enquiries

Retail shareholders who have questions relating to the Entitlement Offer should call the TEN shareholder information line on 1800 990 475 (toll free within Australia) and +61 1800 990 475 (from outside Australia) from 8.30am to 5.30pm ADST Monday to Friday.

Further information in relation to the matters described in this announcement is set out in an investor presentation which was released by TEN on Monday, October 26, 2015. The investor presentation contains important information including important notices, key risks and key assumptions in relation to certain forward looking information in this document.

Source: Ten Network Holdings