Receipt of Net Sale Proceeds

Receipt of Net Sale Proceeds

ThinkSmart (“ThinkSmart” or the “Company”) (formerly AIM: TSL) announces that, following the sale of the 468,667 Block Sale Shares on the NYSE on 5 December 2022, the Company has today received the sale proceeds net of sale fees and bank transfer charges as follows (all in USD):

Gross sale proceeds
Less: 0.5% broker sale fee
Less: SEC fee on sale
Less: bank transfer fee
Net sale proceeds received

The net sale proceeds have been transferred to Tuscan Equity Pty Ltd (“Tuscan Equity”) by way of a loan and will now be converted to Pounds Sterling and Australian Dollars, as applicable, by Tuscan Equity which is expected to occur on the morning of 9 December 2022 Perth time.

Cash Consideration

The Cash Consideration will be paid to shareholders on the terms set out in the Scheme Booklet dated 24 October 2022. ThinkSmart may provide updates, as appropriate, on its website at  relating to the payment of the Cash Consideration.


The indicative timetable for the key outstanding milestones under the Scheme remains as set out on pages 14 to 16 of the Scheme Booklet and is also set out below.

Event Date
Payment of Scheme Consideration As soon as practicable following the sale of the Block Sale Shares, expected to be approximately 8 Business Days after completion of the sale of the Block Sale Shares

Capitalised terms used in this announcement shall, unless otherwise defined, have the same meanings as set out in the Scheme Booklet.

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