Arowana is pleased to advise that one of our investment entities in Australia, AWN, has been informed that the class action lawsuit regarding the 2014 IPO of its former subsidiary, Intueri Education Group, has settled without recourse to AWN shareholders or the broader Arowana group and its executives. The agreement between the parties includes the settlement of all third-party claims relating to external advisers that AWN had appointed to provide specialist local NZ advice in relation to regulatory matters, government liaison, as well as the execution of the IPO in NZ. The outcome was significantly better than expected. A summary judgement claim filed by the plaintiffs had previously been dismissed by the NZ High Court in April 2021.

Terms of the settlement are confidential.

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