Maxo Telecommunications Enters Into Scheme Implementation Deed with Vonex Limited

Queensland, Australia 25 Jun 2024 - Maxo Telecommunications, a leading provider of cloud-hosted voice services, is pleased to announce that it has entered into a Scheme Implementation Deed to acquire 100% of the shares of ASX-listed Vonex Limited (ASX: VN8).

The transaction, valued at $34.4 million, will be conducted through a scheme of arrangement with MaxoTel acquiring all Vonex shares at $0.0375 per share and taking on existing debt. The transaction is expected to complete in the second half of the year, pending approval by Vonex shareholders and regulatory requirements.

This strategic acquisition marks a significant milestone for MaxoTel and represents a major leap forward in their mission to deliver innovative and comprehensive telecommunications solutions.

The combined strengths of MaxoTel and Vonex will create unparalleled synergies that will benefit both businesses. The move will further solidify MaxoTel's position as a leader in the telecommunications market, enhancing their ability to provide cutting-edge cloud-hosted voice services, VoIP solutions, and advanced telephony features across Australia and New Zealand.

Alex Rich, Managing Director of Maxo Telecommunications, stated, "We are excited to enter into this agreement with Vonex, which marks a significant step in our growth strategy. We look forward to bringing Vonex's talented team into our growing group."

The combined expertise and resources of the two companies will enable the group to offer more competitive and diverse services, driving innovation and growth in the industry.

About Maxo Telecommunications

MaxoTel is a leading provider of VoIP and telephony solutions in Australia. With a focus on customer satisfaction, MaxoTel offers a wide range of services designed to meet the needs of businesses of all sizes. Founded in 2007, MaxoTel has become a trusted name in the industry, renowned for its robust VoIP network, innovative solutions and exceptional customer service.

About Vonex Limited

Vonex is a full service, award-winning telecommunications service provider selling mobile, internet, traditional fixed lines, infrastructure solutions and hosted PBX and VoIP services - predominantly to small to medium enterprise ("SME") customers under the Vonex brand. Vonex also develops new technologies in the telecommunications industry, including a feature-rich cloud-hosted PBX system.

Vonex also provides wholesale customers, such as internet service providers, access to the core Vonex PBX, 5G mobile broadband and call termination services at wholesale rates via a white label model. Vonex is pursuing a disciplined M&A growth strategy, targeting profitable IT and telco businesses that offer potential for growth through further product expansion, scale and cross-selling.

For further information, please contact:

Media Inquiries:
Michael Blake
General Manager
Maxo Telecommunications
Email: michael.blake@maxo.com.au
Phone: 07 3123 5305
---

For more details about MaxoTel and its services, please visit [www.maxo.com.au](https://www.maxo.com.au).

### End of Release

**Note to Editors:**
MaxoTel's logo and other media resources are available upon request. Interviews with company executives can be arranged through the contact information provided above.