JAYRIDE GROUP LIMITED(JAY)

The company has formed a strategic alliance with Xoomplay to integrate in-vehicle media and advertising into its SaaS mobility platform. This partnership anticipates an upfront revenue of USD $100,000 and further recurring income through ad commissions and analytics.

The company trading suspended by ASX pending financial sufficiency demonstration. The company remains operationally stable and liquid, receiving investor support for capital management. Progress includes successful SaaS deployments in Thailand, with ongoing efforts toward ASX reinstatement documentation.

The company's securities suspended due to financial condition, breaching Listing Rule 12.2 until compliance achieved.

The suspension of trading in the securities of Jayride Group Limited will be lifted immediately following the release by JAY of an announcement regarding a corporate restructuring and renounceable entitlement offer.

The company has announced a pro-rata renounceable entitlement offer to raise $4.3 million. Eligible shareholders will subscribe for 6 new shares for every 1 existing share, with an issue price of $0.003 per share.

The company is undergoing a corporate restructuring and financing to set a new phase of growth. The restructuring includes a partially underwritten entitlement offer to raise up to $4.3 million, a revitalized board, and a simplified capital structure. The offer will also focus on improving supplier relationships.

The securities of Jayride Group Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of JAY, pending the release of an announcement regarding a material financing and corporate update.

The suspension of trading in the securities of Jayride Group Limited will be lifted immediately following the release by JAY of an announcement regarding the outcome of a capital raising.

The company releases a cleansing notice for its entitlement offer.

The company releases a notice of proposed issue of securities.

$400,000 in capital raised in the placement to a new institutional investor who also has partially underwritten the entitlement offer. $2.2 million entitlement offer to be launched on 9 October 2023. The entitlement offer has strong support from existing shareholders and is 50% subscribed with $1.1 million in secured commitments and underwritings (including $694K of commitments received and an additional $403K of underwriting). The combined proceeds from the placement, secured commitments and underwriting are at least $1.5m of the maximum $2.6m. The placement and entitlement offer are priced at 6.5 cents per share. The entitlement offer is on the basis of 1 new share for every 6 shares held at the record date. The Executive Chairman and Managing Director will each take up their full entitlement. The capital raised in the offer will be used to strengthen the company's balance sheet. Latest trading update: Q1 FY24 passenger trips booked are expected to set a new record, with growth vs the prior quarter and previous corresponding period. Net revenues are expected to be broadly in line with the prior quarter with growth vs previous corresponding period. Jayride expects to be cash flow positive for FY24 through revenue growth and cost management initiatives.

The securities of Jayride Group Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of JAY, pending the release of an announcement regarding a capital raising.

listed entity carried for record purposes only