Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should consult your adviser.

Vonex Term Sheet December 2017

VONEX LIMITED (Proposed ASX code: VN8)
PRE-IPO CAPITAL RAISE – $1,000 Conv Notes - Dec. 2017
The Offer: $0.75m to $1.2m (max) in Secured Convertible Notes - for S708 investors only
Note that this Offer is Speculative; please read the Convertible Note Trust Deed & consult your adviser
We view Vonex as a high growth prospect in the rapidly evolving Australian telecom sector, with a HPBX cost structure that allows the group to compete against major competitors such as Telstra. Vonex has already demonstrated two-year average revenue growth rates of ~25% pa and we forecast that revenue growth will accelerate as new customers increase from 50 to 300 per month in 2018.
An IPO of $6m to $7m is scheduled for March–April 2018 to complete the fund raising.


Vonex Limited (ACN 063 074 635) ASX Exchange Code
Unlisted until April 2018 – then VN8 Transaction Type
To secure working capital and refinancing capital prior to proposed listing on the ASX on or before 30 April 2018 via the issue of convertible notes; each Convertible Note has a face value of $1,000. Offer Term
Term to 30 April 2018 (subject to Noteholder approval at Noteholders meeting on 15 Dec 2017)
Convertible notes are secured against Company assets. Interest Rate on Notes
25% per annum from date of investment, compounding monthly and payable in cash on the maturity date or an earlier redemption date at the sole discretion of the Company unless converted in accordance with the Convertible Note Trust Deed dated 25 April 2016 as amended from time to time. Notes/Ords Conversion
Upon acceptance to official listing on a recognised stock exchange on or before the expiry of the Term. Conversion Price
80% of the issue price of shares offered under the proposed listing of the Company on the ASX pursuant to a prospectus, i.e. at proposed IPO issue price of $0.20 per share (post consolidation), conversion price = $0.16 per share (=> 6,250 shares per $1,000 Convertible Note). Free Option
Free attaching share option ($0.20 exercise price post consolidation) for every share issued following the conversion of the Convertible Notes. Expiry date of options: 30th November 2022.
6/12/2017 2:22:00 AM

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