Primary Health Care (PRY) today announces a number of new and accelerated strategic growth initiatives to meet the continued demand for high quality, affordable and consumer-centred health services.

To fund the strategic growth initiatives and a potential acquisition, Primary will undertake a $250 million fully underwritten 1 for 5.21 accelerated pro rata non-renounceable entitlement offer (“Entitlement Offer”). Under the Entitlement Offer, eligible shareholders are invited to subscribe for 1 new Primary share (“New Share”) for every 5.21 existing Primary shares held as at 7:00pm (Sydney time) on Wednesday, 22 August 2018 ("Record Date"). All shares offered under the Entitlement Offer will be issued at a price of $2.50 per New Share, which represents a 17.8% discount to the theoretical ex-rights price of $3.044 on Friday, 17 August 2018. Approximately 100 million New Shares will be issued under the Entitlement Offer. New Shares will rank equally with existing Primary shares but will not qualify for the FY 2018 final dividend. Jangho Group, Primary's largest shareholder, is supportive of the company and has provided an irrevocable commitment to subscribe for 100% of its pro rata share of the Entitlement Offer5. The Entitlement Offer is fully underwritten.

For more information go to Primary’s website at www.primaryhealthcare.com.au