Oilex Ltd (the Company) advises that its General Meeting will be held on Wednesday 13 July at 4pm AWST (Meeting) at PKF Perth Level 5, 35 Havelock Street, Perth, Western Australia.
Attached is a copy of the Notice of Meeting and Proxy Form.
Resolution 1 within the Notice of Meeting is a special resolution which seeks to approve the change the name of the Company from “Oilex Ltd” to “Synergia Energy Ltd”, consistent with the re-branding of the Company. The Company has taken steps to reserve the name with ASIC prior to the date of this Notice and if Resolution 1 is passed, the Company will lodge a copy of the special resolution with ASIC following the Meeting to effect the change. Subject to the passing of Resolution 1, and the change of name coming into effect, the Company’s proposed new ticker/stock code and market identifier for both ASX and AIM will be ‘SYN’.
Resolution 2 within the Notice of Meeting requires ratification of the issue of Tranche 1 Placement Shares to Novum Securities and Republic Investment Management as part of the recent fund raising.
Resolutions 3 and 4 within the Notice of Meeting seek Shareholder approval under, and for the purposes of, Listing Rule 7.1 to issue of the Tranche 2 Placement and Option Shares to Novum Securities and Republic Investment Management.
Resolution 5 is an ordinary resolution which provides for the approval of a new employee incentive plan of the Company, which was adopted by the Board on 25 May 2022 (Employee Incentive Plan), and, subject to the maximum issue amount increasing or decreasing in accordance with the 5% capital limit set out in the Class Order or the change of any laws, the issue of a maximum of 388,559,703 Equity Securities under the Company’s Employee Incentive Plan. The Board is committed to incentivising and retaining the Company’s personnel in a manner which promotes alignment of their interests with shareholder interests, whilst ensuring the Company’s remuneration package for all eligible participants is market-competitive. The Company’s ability to execute this strategy is dependent on the experienced talent that the Company has recruited, and their retention and alignment with shareholder’ interests is critical. At the same time, the Company desires to maintain the flexibility to respond promptly to maximise opportunities afforded by capital markets.
Resolutions 6 (a), (b) and (c) within the Notice of Meeting are ordinary resolutions which seek to approve the issue of:
· 88,311,688 Options to Mr Joe Salomon (and/or his nominee(s));
· 136,363,636 Options to Mr Roland Wessel (and/or his nominee(s)); and
· 100,000,000 Options to Mr Colin Judd (and/or his nominee(s)),
within one (1) month of the date of the Meeting, at an exercise price of £0.0022 and expiry date of five (5) years from the date of issue to Directors (or their respective nominees). The Options are to vest equally with the holder over a period of three (3) years, commencing 1 July 2021.
For and on behalf of Oilex Ltd
Lisa Wynne
Company Secretary
For further information, please contact:
Investor Enquiries
Oilex Ltd
Roland Wessel
Managing Director
Email: [email protected]
Tel: +61 8 9485 3200
Australia
Dear Shareholder,
Oilex Ltd (Company) is convening a General Meeting of shareholders to be held on Wednesday, 13th of July 2022 at 4pm AWST (Meeting) at PKF Perth Level 5, 35 Havelock Street, Perth, Western Australia.
In accordance with the Treasury Laws Amendment (2021 Measures No. 1) Act 2021 (Cth) this Notice and Explanatory Statement are being made available to Shareholders electronically (by email) and the Company will not be dispatching physical copies of its Notice of Meeting unless specifically requested to do so. Where the Company does not have a registered email address for shareholders, the Notice of Meeting will be available for download from the Company’s website at https://www.oilex.com.au and on the Company’s ASX announcements platform, and at the following link : https://www.oilex.com.au/news
With regards to the COVID-19 pandemic, the Company will adhere to all social distancing measures prescribed by relevant government authorities at the Meeting, and all shareholders will need to ensure they comply with protocols. We are concerned for the safety and health of shareholders, staff, and advisers, so we have therefore put in place certain measures including social distancing requirements and limiting non-shareholder visitors.
A copy of your personalised Proxy Form is enclosed for convenience. Proxy votes may be lodged by any of the below methods:
