Queste Communications LtdASX: QUE

Results of Completion of Equal Access Share Buy-Back

· Issued by Queste Communications Ltd
20131129 QUE ASX Amended Equal Access Buy-Back Timetable (20131129 QUE ASX Amended Equal Access Buy-Back Timetable.doc;1)

Monday, 30 May 2016

MARKET ANNOUNCEMENT Results of Completion of Equal Access Share Buy-Back

Queste Communications Ltd (ASX:QUE) (Queste or the Company) is pleased to announce the results of its off-market, equal access share buy-back1 (Buy-Back) which closed on 26 May 2016.

As announced on 26 May 20162, the Company received acceptances totalling in excess of the Buy-Back Cap of

$300,000 and a proportionate scale-back has been applied by reference to the value of the Buy-Back consideration in respect of acceptances received3.

Pursuant to the completion of the Buy-Back:

  • 3,220,914 fully paid ordinary shares have been bought back for 9 cents per share, at a cost of

    $289,882.26; and

  • 2,248,044 partly-paid ordinary shares4 have been bought back for 0.45 of a cent per share, at a cost of $10,116.19,

    with the total cost of the Buy-Back being $299,998.45.

    Buy-Back proceeds are expected to be sent to shareholders who accepted the buy-back offer on or before 3 June 2016.

    After the cancellation of shares bought-back, Queste's new share capital will comprise:

  • 26,496,402 listed fully paid ordinary shares; and

  • 5,851,956 unlisted partly-paid ordinary shares, each paid up to 1.5225 cents per share, representing the equivalent of 445,480 voting shares5,

making a total of 26,941882 voting shares on issue.

FOR FURTHER INFORMATION:

Victor Ho

Executive Director T | (08) 9214 9777

and Company Secretary E | cosec@queste.com.au

  1. Refer Share Buy-Back Offer Booklet (dated 24 March 2016) despatched to eligible shareholders and lodged on ASX on 31 March 2016

  2. Refer QUE ASX Announcement dated 26 May 2016: Close of Equal Access Scheme Share Buy-Back Offer

  3. Refer Section 2.3.3 (on page 7) of the Share Buy-Back Offer Booklet.

  4. The terms of the partly paid shares are set out on page 23 of the Share Buy-Back Offer Booklet.

  5. Each partly paid share is treated for voting purposes as being a proportion of a fully paid share, equal to the proportion to which it has been paid up - 1.5225 cents per share, representing 7.61% of the $0.20 issue price.

www.queste.com.au

QUESTE COMMUNICATIONS LTD A.B.N. 58 081 688164

ASX Code : QUE

Level 2, 23 Ventnor Avenue, West Perth, Western Australia 6005

T | (08) 9214 9777 F | (08) 9214 9701 E | info@queste.com.au