NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

AGL Energy Limited (AGL) today announced the successful completion of the retail component of its fully underwritten 1 for 5 pro rata accelerated renounceable entitlement offer with retail entitlements trading, raising gross proceeds of approximately $499 million.

On Wednesday, 20 August 2014, AGL announced a renounceable entitlement offer of new AGL ordinary shares (New Shares) at an offer price of $11.00 per New Share to raise approximately $1,232 million (Entitlement Offer) to fund part of the purchase price for the acquisition of the Macquarie Generation assets.

The institutional component of the Entitlement Offer was successfully completed on Tuesday, 2 September 2014, raising gross proceeds of approximately $516 million.

The retail component of the Entitlement Offer (Retail Entitlement Offer) closed on Monday, 15 September 2014.

Summary of the Retail Entitlement Offer

The Retail Entitlement Offer attracted strong support with:

  • Approximately $499 million received from more than 55,900 applications; and
  • Approximately 70% take-up (by value) by eligible retail shareholders and purchasers of entitlements.

Approximately 19.7 million entitlements representing entitlements not taken up by eligible retail shareholders as well as entitlements that ineligible retail shareholders were not eligible to take up, will now be offered for sale for the benefit of those shareholders under a retail shortfall bookbuild (Retail Shortfall Bookbuild).

The Retail Shortfall Bookbuild will commence after market close today (Thursday, 18 September 2014).

The settlement date for New Shares under the Retail Entitlement Offer and the Retail Shortfall Bookbuild is Wednesday, 24 September 2014. New Shares are expected to be issued on Thursday, 25 September 2014 and commence trading on ASX on Friday, 26 September 2014.

Shareholder Enquiries

Retail shareholders who have questions relating to the Entitlement Offer should call the AGL Offer Information line on 1800 824 513 (within Australia) or +61 1800 824 513 (outside Australia) from 8.30am to 5.30pm (Sydney time) Monday to Friday or go to our website www.agl.com.au.

About AGL
AGL is one of Australia's leading integrated energy companies and largest ASX listed owner, operator and developer of renewable energy generation in the country. Drawing on over 175 years of experience, AGL operates retail and merchant energy businesses, power generation assets and an upstream gas portfolio. AGL has one of Australia's largest retail energy and dual fuel customer bases. AGL has a diverse power generation portfolio including base, peaking and intermediate generation plants, spread across traditional thermal generation as well as renewable sources including hydro, wind, landfill gas and biomass. AGL is taking action toward creating a sustainable energy future for our investors, communities and customers.