ThinkSmart Completes Institutional Component of Equity Raising

ThinkSmart Completes Institutional Component of Equity Raising

Strong Support For ThinkSmart Equity Raising

ThinkSmart has successfully completed the institutional component of its equity raising, announced on 30 September 2010. This represents the first stage of the $16.0 million capital raising being underwritten by J.P. Morgan Australia Limited.

“The positive response ThinkSmart received for the institutional component from our existing institutional shareholders and the introduction of new institutional shareholders demonstrated strong support for ThinkSmart’s UK and Australian growth plans,” said Mr. Ned Montarello, Executive Chairman and CEO of ThinkSmart.

The institutional raising comprised the offer of approximately 11.3 million new shares under the institutional component of the 1 for 5 entitlement offer to raise approximately $5.7 million, and the offer of approximately 12.5 million shares to institutional investors under the placement to raise approximately $6.2 million. Both components of the offer were strongly supported and the placement was well oversubscribed.

The shares issued through the institutional component of the capital raising are expected to be issued on Monday 11 October 2010 and commence trading on ASX on the same day.

The retail component of the offer will open on Friday 8 October 2010 and will close on 26 October 2010. The retail offer booklet will be sent to eligible retail shareholders on 8 October 2010.

ThinkSmart requests that its trading halt be lifted with effect from open of market today.

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