AJ Lucas : Successful completion of Retail Offer

AJ Lucas Group Limited

ABN: 12 060 309 104

1 Elizabeth Plaza

North Sydney NSW 2060

PO Box 538

North Sydney NSW 2060

T [phone]

F [phone]

www.lucas.com.au

21 February 2018

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

Successful completion of Retail Entitlement Offer

AJ Lucas Group Limited (ASX:AJL) ("AJ Lucas") today announced the successful completion of the retail component ("Retail Entitlement Offer") of its 1 for 6 accelerated pro rata non- renounceable entitlement offer ("Entitlement Offer") of new fully paid ordinary shares priced at A$0.32 each ("New Shares").

The total amount raised under the Entitlement Offer was A$30.1 million. The Entitlement Offer and the placement, which was previously announced on 5 and 19 January 2018 (the "Placement", and together with the Entitlement Offer, the "Capital Raising"), raised a total of A$52.6 million.

Under the Retail Entitlement Offer, eligible retail shareholders were able to take up their pro rata entitlement by applying for New Shares and were also able to apply for additional new shares above their entitlement ("Additional New Shares"), subject to the terms of the Retail Entitlement Offer including a limit on the maximum number of Additional New Shares that would be issued of 2 million. The Retail Entitlement Offer opened on 30 January 2018 and closed on 16 February 2018.

Valid applications for approximately 10.7 million New Shares, and 4.1 million Additional New Shares were received under the Retail Entitlement Offer. Due to the strong level of demand for Additional New Shares, eligible retail shareholders who applied for Additional New Shares were scaled back on a pro rata basis and will receive approximately 48.7% of the Additional New Shares applied for. New Shares and all Additional New Shares taken up under the Retail Entitlement Offer are expected to be issued on Friday, 23 February 2018 and commence trading on ASX on Monday, 26 February 2018.

AJ Lucas' Chairman Phil Arnall commented:

"We are delighted with the way this Capital Raising has been received by the market. The support shown from our existing institutional and retail shareholders has been outstanding, and we now look forward to further progressing our UK investments and delivering strong results from our Australian operations".

For further information, please contact:

AJ Lucas Group Limited	[phone]
Marcin Swierkowski	Company Secretary
Austen Perrin	Chief Financial Officer
Disclaimer

This announcement is not financial product or investment advice, a recommendation to acquire new shares or accounting, legal or tax advice. It does not constitute an invitation or offer to apply for new shares. It has been prepared without taking into account the objectives, financial or tax situation or needs of individuals. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial and tax situation and needs and seek legal and taxation advice appropriate for their jurisdiction. AJ Lucas is not licensed to provide financial product advice in respect of an investment in shares.

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