TOP SHELF INTERNATIONAL HOLDINGS LTD (TSI)

Shareholders in this company should consider crystallising a capital loss in 2024/25 by selling their shares. This process is now much easier and quicker. It can be achieved online by entering transaction details here. While, this usually makes good economic sense we recommend you seek professional advice before buying or selling securities, your accountant is probably the best person.

The securities of Top Shelf International Holdings Ltd will be suspended from quotation immediately under Listing Rule 17.2, at the request of TSI, pending the release of its audited financial statements for the year ended 30 June 2024 and the finalisation of a review of its operating strategy.

The suspension of trading of the following options of Top Shelf International Holdings Limited is expected to be lifted from the commencement of trading on Monday, 8 July 2024 following the release by TSI of an announcement regarding confirmation that the ASX conditions of quotation for the options have been met. TSIO

The options of Top Shelf International Holdings Limited will be suspended immediately in accordance with Listing Rule 17.3, as there will be no deferred settlement trading. The options are expected to be quoted on a normal settlement basis on Tuesday, 2 July 2024. The suspension only applies to TSI's options and does not apply to any other quoted securities of TSI.

The suspension of trading in the securities of Top Shelf International Holdings Ltd will be lifted immediately following the release by TSI of an announcement regarding its capital raising

Completion of $19m Conditional Placement with cornerstone support from existing shareholders. Early commitments of $8m in respect of the $21m Entitlement Offer to be launched after shareholder approval of the Conditional Placement, with the inclusion of a shortfall facility allowing existing shareholders the opportunity to apply for shares greater than their pro-rata entitlement. The Conditional Placement and Entitlement Offer are being undertaken as part of Top Shelf's ongoing recapitalisation and cost reduction program, allowing for a reduction in its senior secured loan facility with Longreach Credit Investors Pty Ltd. Proceeds from the Conditional Placement and Entitlement Offer will be used: to repay a portion of the Company's senior secured loan facility with Longreach; to complete the Company's integrated agave spirit production facility; to launch of the Act of Treason Australian Agave brand; and for general working capital purposes. If the Conditional Placement is not approved by shareholders, neither the Conditional Placement nor the Entitlement Offer will proceed and the board of the Company intends to continue with the proposed sale and leaseback of the Company's Australian Agave land, agronomy and production assets. The Board considers that the proposed capital raising is a superior outcome for shareholders of Top Shelf than the sale and leaseback alternative. New Shares under both the Conditional Placement and the Entitlement Offer will be issued at a price of $0.25 per New Share. SB Capital will be acting as lead manager and arranger of the Conditional Placement and Entitlement Offer. SB Capital and the Company have agreed that 15% of SB Capital's management and selling fee shall be settled by way of additional Shares at the Offer Price, subject to shareholder approval at the General Meeting to be held in late June 2023. SB Capital's engagement as Lead Manager is subject to customary conditions, including but not limited to the Company's compliance with the timetable, the receipt of all necessary shareholder approvals for the Conditional Placement, and there being no material adverse effect on the Company prior to the issue and allotment of the New Shares.

The company releases a Capital Raise Investor Presentation.

The voluntary suspension is necessary to assist the Company in managing its continuous disclosure obligations whilst the Company finalises matters in connection with the capital raising and the Announcement. The Company requests that the voluntary suspension continue until the earlier of the Company releasing the Announcement, or upon the commencement of normal trading on Monday, 29 May 2023.

While Top Shelf continues to work on its planned capital raise, the Company is pleased to advise it has received confirmation from Coles Liquor Group (CLG) on increased national ranging for NED Australian Whisky and Grainshaker Australian Vodka.

The securities of Top Shelf International Holdings Ltd will be suspended from quotation immediately under Listing Rule 17.2, at the request of TSI, pending the release of an announcement regarding a capital raising

listed entity carried for record purposes only