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Ansell Ltd. April 09, 2024

Ansell announces the successful completion of a $400 million placement

9 April 2024 – Ansell Limited (ASX:ANN, Ansell or the Company) has successfully completed a A$400 million (US$2631 million equivalent) fully underwritten institutional placement (Placement) of approximately 17.8 million new fully paid ordinary shares (New Shares) to eligible institutional investors at a price of A$22.45 per New Share (Placement Price).

The proceeds of the Placement will be used to partially fund the acquisition of 100% of the assets that constitute Kimberly-Clark’s Personal Protective Equipment business (KCPPE) from Kimberly-Clark Corporation (K-C) for US$6402 million (the Acquisition).

Ansell received strong interest in the Placement from existing and new institutional investors.

All eligible institutional shareholders who bid for an amount equal to, or less than, their pro rata share of New Shares under the Placement were allocated their full bid on a reasonable endeavours basis.3

The New Shares issued under the Placement will rank equally with existing Ansell shares from their date of issue. Ansell shares are expected to resume normal trading on the ASX from market open today (Tuesday, 9 April 2024).

Settlement of New Shares issued under the Placement is expected to occur on Thursday, 11 April 2024. New Shares are expected to be issued on Friday, 12 April 2024 and commence trading on ASX on a normal settlement basis on the same day.

Details of the Share Purchase Plan

Ansell will offer eligible Ansell shareholders, being shareholders who had a registered address in Australia or New Zealand on Ansell’s register at 7.00pm (Australian Eastern Daylight Time) on Friday, 5 April 2024, the opportunity to apply for up to A$30,000 of New Shares free of any brokerage, commission or transaction costs in accordance with a non-underwritten share purchase plan (SPP), targeting to raise up to A$65 million4. The SPP will be priced at the lower of the Placement Price and a 2.0 per cent discount to the five-day VWAP of Ansell shares up to, and including, the closing date of the SPP, which is currently scheduled for Monday, 6 May 2024.

Full details of the SPP will be set out in the SPP Offer Booklet, which will be released to the ASX and made available to eligible shareholders in Australia and New Zealand on, or around, Monday, 15 April 2024.

Key Dates for the Placement and SPP

Description Date

Record date for SPP

7.00pm (Australian Eastern
Daylight Time), Friday, 5 April 2024

Issue and commencement of trading of New Shares issued under the Placement Friday, 12 April 2024

Friday, 12 April 2024

SPP offer opens and SPP booklet is dispatched

Monday, 15 April 2024

SPP offer closing date

5.00pm, Monday, 6 May 2024

Issue of New Shares under the SPP

Monday, 13 May 2024

Commencement of trading of New Shares issued under the SPP

Tuesday, 14 May 2024

Despatch of holding statements in respect of New Shares issued under the SPP

Wednesday, 15 May 2024

The above timetable is indicative only and subject to change. The commencement of trading and quotation of New Shares issued under the Placement and the SPP is subject to confirmation from ASX. Subject to the requirements of the Corporations Act, the ASX Listing Rules and other applicable rules, Ansell reserves the right to amend this timetable at any time, including extending the period for the SPP or accepting late applications, either generally or in particular cases, without notice. All references to times above are to Australian Eastern Standard Time, except in relation to the Record date for the SPP, which is to Australian Eastern Daylight Time.

Further Information

Further details of the Acquisition, the Placement and the SPP are set out in the investor presentation released to the ASX on Monday, 8 April 2024. The investor presentation contains important information including details about key risks and international offer restrictions with respect to the Placement, which should be read together with this announcement.

This announcement was authorised for release by the Board of Directors of Ansell Limited.

Important notice and disclaimer

This announcement should be read subject to the disclaimer contained in the investor presentation released to the ASX on Monday, 8 April 2024 (Investor Presentation), such that references in the disclaimer to "this Presentation" were references to this announcement. This announcement is not financial product, investment or other advice. Nothing in this announcement constitutes a recommendation to acquire the New Shares or to participate in the SPP. The Company is not licensed to provide financial advice in relation to the acquisition of securities. This announcement does not contain all the information that investors and their professional advisers may require to make an investment decision in relation to the Company, the Placement or the SPP, and should be read in conjunction with Ansell's other periodic and continuous disclosure announcements (including the Investor Presentation) available at: This announcement does not account for the investment objectives, financial circumstances or other particular needs of investors. Investors should seek any independent professional advice they may require in relation to this announcement.

This announcement includes certain "forward-looking statements" such as indications of, and guidance on, future events, future earnings and the future financial performance and financial position of Ansell. Forward- looking statements can generally be identified by the use of forward-looking words such as "expect", "anticipate", "likely", "intend", "should", "could", "may", "predict", "plan", "propose", "will", "believe", "forecast", "projection", "estimate", "target", "outlook", "guidance" or other similar expressions and include statements regarding the timing and/or outcome of the Placement, the SPP, Ansell's strategies, plans and future operational and financial performance, including in relation to the Acquisition. Any forward-looking statements included in this announcement involve subjective judgment and analysis and are subject to significant uncertainties, risks and contingencies and other factors, including the risks described in the "Key Risks" section of Investor Presentation, many of which are outside the control of, and are unknown to, Ansell and its officers, employees, agents or associates and may involve significant elements of subjective judgement and assumptions as to future events which may or may not be correct.

Forward-looking statements, including projections, guidance on future earnings and estimates are provided as a general guide only and should not be relied upon as an indication, prediction or guarantee of future performance. No representation, warranty or assurance (express or implied) is given or made in relation to any forward-looking statement by any person (including Ansell). In particular, no representation, warranty or assurance (express or implied) is given that the occurrence of the events expressed or implied in any forward-looking statements in this announcement will actually occur. Actual results, performance or achievement may vary materially from any projections and forward-looking statements and the assumptions on which those statements are based. The forward-looking statements are based on information available to Ansell as at the date of this announcement.

Except as required by law or regulation (including the ASX Listing Rules), Ansell undertakes no obligation to provide any additional or updated information whether as a result of new information, future events or results or otherwise. Indications of, and guidance or outlook on, future earnings or financial position or performance are also forward-looking statements.

Not an offer in the United States

This announcement has been prepared for publication in Australia and may not be released or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933, as amended (the US Securities Act), or under the securities laws of any state or other jurisdiction of the United States and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state securities laws.

1. Converted to USD at AUD/USD of 0.6567.
2. Acquisition price on a cash-free, debt-free basis, subject to completion adjustments including movements in working capital.
3. For this purpose, an eligible institutional shareholder’s ‘pro rata’ share of New Shares issued under the Placement was estimated by reference to Ansell’s latest available beneficial shareholder register prior to launch of the Placement, but without undertaking any reconciliation processes and ignoring New Shares that may be issued under the SPP. Unlike in a rights issue, this may not truly reflect the participating shareholder’s actual ‘pro rata’ share of New Shares issued under the Placement. Nothing in this announcement gives a shareholder a right or entitlement to participate in the Placement and Ansell has no obligation to reconcile assumed holdings (e.g. for a recent trading or swap position) when determining a shareholder’s ‘pro rata’ share of New Shares issued under the Placement. Institutional shareholders who do not reside in Australia or other eligible jurisdictions were not eligible to participate in the Placement – see ‘International Offer Restrictions’ in the investor presentation for the eligible jurisdictions and relevant selling restrictions. Ansell disclaims any duty or liability (including for negligence) in respect of the determination of a shareholder’s ‘pro rata’ share of New Shares issued under the Placement.
4. Ansell will have the ability to accept more or less than the target SPP size in its absolute discretion.


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