IBPO.L Regulatory News (IBPO)

17 August 2015

iEnergizer Limited

("iEnergizer" or the "Company")

Placing and Director dealing

Result of AGM

iEnergizer Limited (AIM: IBPO.L), an international and full service business process outsourcing business, is pleased to announce that it has raised 1.1 million by way of a placing of 22,000,008 new ordinary shares of 1 pence each ("New Ordinary Shares") with EICR Cyprus Limited ("EICR") a company of which Mr Anil Aggarwal, Non-executive Director of the Company, is the ultimate shareholder (the "Placing") at a price of 5 pence per Ordinary Share (the "Placing Price").

The Placing Price represents a discount of approximately 78.72 per cent. to the closing price of 23.5 pence per share on 14 August 2015, (being the last practical date prior to the announcement of the Placing).

As announced on 2 May 2013, the Company executed a Term Loan B facility for a six year senior secured term loan facility ("the Facility") for an aggregate amount of US$135m. Pursuant to the terms of the Facility, the Company requires this cash injection (amounting to approximately US$ 1.7 million) in addition to the earlier announced equity injection of US$ 3.3 million on 9 July 2015. The entire proceeds of the Placing will be utilized to prepay part of the Facility.

The Directors believe that this cash injection will further enable the Company to strengthen its balance sheet and will also enable the Company to continue the business reorganisation currently being undertaken and focus more clearly on a go-to-market sales and services delivery model.

Application will be made for the New Ordinary Shares issued pursuant to the Placing to be admitted to trading on AIM and it is anticipated that Admission will become effective and that dealings will commence on 21 August 2015.

The Placing Shares will, when issued, rank equally in all respects with the existing ordinary shares and will represent approximately 11.57 per cent. of the entire issued share capital of the Company immediately following Admission.

Following the Placing the Company will have 190,130,008 ordinary shares in issue. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in iEnergizer, under the Disclosure and Transparency Rules.

Director shareholding

Following the completion of the Placing, EICR holds a beneficial interest in 157,196,152 Ordinary Shares, representing approximately 82.68 per cent. of the issued share capital of the Company. Mr. Anil Aggarwal is the ultimate shareholder of EICR.

In accordance with the relationship agreement entered into by the company, EICR, Mr Aggarwal and others at the time of IPO, this transaction was entered into at arms length and on commercial terms. The transaction represents continued confidence of EICR in the Company.

Related party opinion

Anil Aggarwal, a Non-executive Director of the Company, is the ultimate shareholder of EICR and as such is a related party for the purposes of AIM Rule 13. The independent directors of the Company consider that, having consulted with the Company's nominated adviser in relation to the Placing that the terms of the Placing are fair and reasonable insofar as the Company's shareholders are concerned.

Result of AGM

The Board is also is pleased to announce that at the Company's Annual General Meeting for shareholders held on 14 August 2015, all resolutions proposed were duly passed.

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