Key Highlights

  • WQG has secured an Underwriting of its Dividend reinvestment plan in full for its fully franked final dividend of 2.35 cents per share.
  • The total amount of the final dividend underwritten is $6,500,349.69.
  • Taylor Collison is the underwriter, with the support of Ord Minnett and Morgans Financial, for a fee of 3.5% of the value of the final dividend.
  • DRP shares and shares issued to the underwriter will be issued on 30 September 2026, with the DRP issue price to be announced on 22 September 2026.

WCM Global Growth Limited (ASX:WQG) has advised, in accordance with ASX Listing Rule 3.10.9, that it has secured an underwriting of its Dividend Reinvestment Plan (DRP) in full for its fully franked final dividend of 2.35 cents per share. The underwriter is Taylor Collison Limited, with the support of Ord Minnett Limited and Morgans Financial Limited. The total amount of the final dividend underwritten is $6,500,349.69.

How the Underwriting Works

Under the arrangement, shares will be issued to the underwriter at the same price as the DRP issue price, and on the same day as the DRP shares, which is 30 September 2026. The DRP issue price is to be announced to ASX on 22 September 2026. The termination provisions refer to shortfall shares. The key terms of the Underwriting Agreement are set out in Appendix A to the announcement.

Underwriting Fee

The underwriter receives a fee of 3.5% of the value of the final dividend. Applied to the underwritten amount of $6,500,349.69, that equates to about $227,500 by simple arithmetic. The release does not state any discount to the Market Price that the underwriter may receive, and it lists no other fees, commission or consideration beyond the underwriting fee.

Termination Events

Appendix A lists events that could lead to termination of the underwriting agreement. They include Insolvency of WQG, suspension of trading in its shares, a Trading halt of more than one trading day, inability to issue or allot DRP shares, and ASX declining Quotation of DRP shares. A fall of more than 10% in the MSCI All Country World index (ex Australia) from its level on the trading day before the agreement date is also listed. Further events cover regulatory breaches, timetable delays of more than two trading days, ASIC investigations, criminal charges against directors or senior management, unapproved changes to the CEO, CFO or directors, and misleading disclosure.

Other triggers include adverse changes in the issuer's financial position or prospects, legal proceedings against the issuer, adverse changes in markets in specified jurisdictions, hostilities, a nuclear incident, or a change in Australian law or policy. For certain events, marked with an asterisk, the underwriter may terminate only if it has reasonable grounds to believe the event has, or could have, a material adverse effect on the price at which shortfall shares are likely to trade, or could give rise to a contravention or Liability for the underwriter.

Stated Objectives of the DRP

WQG says the DRP and its underwriting are consistent with its previously stated objectives of increasing the Liquidity of its shares, expanding the Shareholder base and generating economies of scale. It also states that the DRP gives existing shareholders the opportunity to increase their investment at an attractive price, free of brokerage. The release does not state the discount that will apply to the DRP issue price.

Key Insights

WQG has secured full underwriting of the DRP for its 2.35 cent fully franked final dividend, covering $6,500,349.69, with Taylor Collison as underwriter for a 3.5% fee. The DRP issue price is due on 22 September 2026 and shares are to be issued on 30 September 2026. The underwriting can be terminated on a range of events, including a fall of more than 10% in the MSCI All Country World Index (ex Australia), and the release does not state the DRP discount.