2CC - 2 Cheap Cars Group

[Plata]

Hold the line folks, hold the line (this is not investment advice )

[Otago K]

Hold the line folks, hold the line (this is not investment advice )

Indeed just a discussion of existing shareholders sharing perspectives from what I've seen.

[Ferg]

Trading update for June but not marked as price sensitive..?
https://www.nzx.com/announcements/477221

$1.7m NPAT for Q1.

[winner (n)]

Trading update for June but not marked as price sensitive..?
https://www.nzx.com/announcements/477221

$1.7m NPAT for Q1.

$1.7m times 4 = $6.8m plus boost over summer = $8m for full year

H2 generally seems better than H1

[Basil]

There is a rumour going around that some dog did some very fierce barking to beat them into submission to issue that trading update and a further one on 14 August so the market remains fully informed during the takeover period.  Of course I couldn't possibly comment. 

Opinion.  In my opinion 80 cents is egregiously low and completely unreasonable and if Sena & Co want to take the company private he will have to make a considerably improved offer.  I intend to reject the offer and now hold just on 320,000 shares.

[Dolcile]

Wow, some buying at 81c this morning.   Watching this with interest :-)

The 2CC thread on the other channel seems to have disappeared ?

[winner (n)]

Wow, some buying at 81c this morning.   Watching this with interest :-)

The 2CC thread on the other channel seems to have disappeared ?

Market thinking higher offer on way?

Thread still there

[Basil]

Trading update for June but not marked as price sensitive..?
https://www.nzx.com/announcements/477221

$1.7m NPAT for Q1.

On track to approximatley triple the first half result from 1H FY26.

[lorraina]

In 2CC's annual report under FY27 Priorities they stated;
"The company is also exploring further network opportunities to support future volume growth and customer reach".
I can not recall this being mentioned in the inadequate independent report.
Therefore this is interesting;A new dealership,with 53 cars for sale today.
2 Cheap Cars Henderson Dealership�


Quality cars at low, low prices are back in West Auckland.

Located at 157 Central Park Drive, Henderson, our new dealership is just moments from Lincoln Road and the Northwestern Motorway interchange, and just down the road from The Trusts Arena—making it easy to visit from across Henderson and wider West Auckland.

Whether you're looking for your first car, a fuel-efficient commuter, a family-friendly SUV or something with a little more room, you'll find a wide range of quality used cars ready to drive away.

Our team can also help with flexible car finance and trade-ins, making it easier to find a vehicle that suits your lifestyle and budget. For value, choice and straightforward service, 2 Cheap Cars Henderson has West Auckland covered.

Visit our new Henderson dealership today or browse our used cars online. With fresh stock arriving every week, there's always something new to discover.

[Left Field]

Takeover offer timing extended to 23 September 2026....pass the popcorn.... this is going to be an even longer saga.

Letter from Sena & Co to 2CC Shareholders

10 August 2026

TAKEOVER OFFER CLOSING DATE EXTENDED

Dear 2CC Shareholder

On 27 July 2026, Sena & Co Limited (Sena & Co) made a full takeover offer (Offer) of $0.80 per share for all
the ordinary shares in 2 Cheap Cars Group Limited (2CC) not already owned by Sena & Co. Today, we have
extended the closing date of our Offer to Wednesday, 23 September 2026. Please read the formal notice
included with this letter for further details.

As at end of day 6 August 2026, we have received acceptances under the Offer which total more than 3.1%
of the ordinary shares.

The minimum acceptance condition will be satisfied once we receive acceptances which will result in Sena
& Co holding or controlling 90% or more of the voting rights in 2CC (unless waived in accordance with the
terms of the Offer). If the 90% threshold is not reached (and the condition is not waived), the Offer will
lapse, shareholders will not receive their cash consideration of $0.80 per share, and the stock will likely trade
down towards or below the pre-announcement trading price of $0.66 per share.
Shareholders are therefore strongly encouraged to accept the Offer as soon as possible to:
1. Help ensure the Offer can proceed to completion; and
2. Receive their cash consideration promptly once the Offer conditions are satisfied.
If you wish to accept our Offer, you must do so by no later than 11.59pm on Wednesday, 23 September
2026, unless the Offer period is further extended in accordance with the Takeovers Code.

Why Accept?

2CC shareholders who have not yet accepted the Offer are urged to read the Offer Document and the
Target Company Statement. In making your decision, please consider the following:

1. The independent directors of 2CC have unanimously recommended that you ACCEPT our Offer.
2. The Offer price of $0.80 per share is within the independent adviser's valuation range stated in the
independent adviser's report included in the Target Company Statement.
3. The Offer price of $0.80 in cash per share represents an attractive premium to 2CC's recent share price
trading, including a premium of 21% to the last closing price on the NZX of $0.66 on 9 July 2026 (the
last trading day on the NZX prior to the date on which we lodged the Takeover Notice) and 39% to the
12-month VWAP of $0.58 per share.
4. As 2CC noted in an announcement to the market on 4 August 2026, trading in July (up to 27 July 2026)
had been weaker than the first quarter and trading conditions remain volatile.
5. Trading in 2CC's shares is illiquid and the Offer presents a certain opportunity to sell for all-cash
consideration.
6. The independent directors of 2CC advised on 27 July 2026 that up until 23 July 2026 no competing
proposal had emerged for an alternative transaction.
7. The likelihood of the share price falling towards, or below, its pre-Offer level should the Offer not
proceed. The 2CC share price on 9 July 2026 was NZ$0.66 per share.


If you have not already accepted the Offer in respect of your 2CC shares, but wish to do so, please complete
and return the acceptance form, in accordance with the instructions of that acceptance form. Shareholders
are also able to accept online at: www.takeoveroffer.co.nz/2cc.

If you have already accepted the Offer, you do not need to take any further action.
Shareholders requiring assistance should contact their financial adviser or Computershare, the Registrar, on
0800 991 101 (toll free within New Zealand), +64 9 488 8700 or email:
tkoacceptances@computershare.co.nz.

Yours faithfully,
David Sena
Director, Sena & Co Limited