Resource Group International Ltd - Nov 19, 2024 Form 4 Insider Report for IBEX Ltd (IBEX)

Role: Director, 10%+ Owner
Signature: /s/ Pat Costello, General Counsel, The Resource Group International Limited
Stock symbol: IBEX
Transactions as of: Nov 19, 2024
Transactions value $: -$70,000,001
Form type: 4
Date filed: 11/21/2024, 04:24 PM
Previous filing: Nov 12, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	IBEX	Common Shares	Disposed to Issuer	-$70M	-3.56M	-67.29%	$19.65	1.73M	Nov 19, 2024	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	IBEX	Convertible Promissory Note	Award		+1.91M			1.91M	Nov 19, 2024	Common Shares			Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On November 19, 2024, Ibex Limited (the "Issuer") repurchased an aggregate of 3,562,341 of the Issuer's common shares ("Issuer Shares") beneficially owned by The Resource Group International Limited ("TRGI") in a transaction (the "Repurchase") exempt from Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") pursuant to Rule 16b-3 thereunder.
F2	The Issuer paid a portion of the consideration for the Repurchase in the form of a convertible promissory note issued to TRGI (the "Note") that was exempt from Section 16 of the Exchange Act pursuant to Rule 16b-3. The Note has no fixed maturity date and may be prepaid by the Issuer at any time without penalty. TRGI may elect to convert all of the then unpaid principal and accrued but unpaid interest under the Note (the "Conversion Amount"), in whole but not in part, into Issuer Shares at any time during the 15 days following November 18, 2025 and during the 15 days following each six month anniversary of November 18, 2025. The number of Issuer Shares to be issued upon conversion is equal to the Conversion Amount divided by a price equal to the volume weighted average trading price of an Issuer Share during the thirty trading days immediately prior to the date of such conversion, provided such price shall in no event be less than $13.10 or more than $19.65.

Content

On November 19, 2024, Ibex Limited (the "Issuer") repurchased an aggregate of 3,562,341 of the Issuer's common shares ("Issuer Shares") beneficially owned by The Resource Group International Limited ("TRGI") in a transaction (the "Repurchase") exempt from Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") pursuant to Rule 16b-3 thereunder.

The Issuer paid a portion of the consideration for the Repurchase in the form of a convertible promissory note issued to TRGI (the "Note") that was exempt from Section 16 of the Exchange Act pursuant to Rule 16b-3. The Note has no fixed maturity date and may be prepaid by the Issuer at any time without penalty. TRGI may elect to convert all of the then unpaid principal and accrued but unpaid interest under the Note (the "Conversion Amount"), in whole but not in part, into Issuer Shares at any time during the 15 days following November 18, 2025 and during the 15 days following each six month anniversary of November 18, 2025. The number of Issuer Shares to be issued upon conversion is equal to the Conversion Amount divided by a price equal to the volume weighted average trading price of an Issuer Share during the thirty trading days immediately prior to the date of such conversion, provided such price shall in no event be less than $13.10 or more than $19.65.