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Zip Co Limited - Consent Solicitation - Launch

Zip Announces Proposed Conversion Invitation in relation to its Zero Coupon Senior Convertible Notes due 2028 of which A$330,000,000 is outstanding (and Consent Exercise)

08 JUNE 2023


Full announcement including disclaimers and offer restrictions available via SGX (Source: Zip Co Limited)


"Zip Co Limited (ASX: ZIP) (“Zip” or the “Company”) has today (the “Launch Date”) launched an incentivised conversion invitation (the “Conversion Invitation”) for its Zero Coupon Senior Convertible Notes due 2028 of which A$330,000,000 is outstanding (ISIN: XS2330529905 / Common Code: 233052990) (the “Existing Notes”).


The Existing Notes are convertible into fully paid ordinary shares in the Company (the “Shares”) and the conversion rights of the Existing Notes have been exercisable since 3 June 2021. The terms and conditions of the Existing Notes (the “Conditions”) are set out in the offering circular dated 21 April 2021.


Concurrent to the Conversion Invitation, the Issuer:


(i) has separately initiated a consent solicitation process (the “Consent Solicitation”) to seek consent from holders of the Existing Notes (the “Existing Noteholders”) to approve the amendments to the Conditions, the Trust Deed (including the Schedules thereto, where applicable) and the Agency Agreement (including the Schedules thereto, where applicable) and any other documents to give effect to certain amendments as further described in the in the consent solicitation statement dated 8 June 2023 (the “Consent Solicitation Statement”). Please refer to the Consent Solicitation Statement for further details on the Consent Solicitation; and"


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