Further to Oilex Ltd’s (Oilex or the Company) announcement on 21 April 2021 in respect of the equity capital raising of £2.4 million (A$4.3 million), the Company is pleased to announce it has issued 251,418,066 new ordinary shares comprising a partial completion of the 603,403,361 Tranche 2 ordinary shares. The remaining balance of 351,985,295 Tranche 2 ordinary shares is anticipated to be issued by the end of June 2021.
Background
In regard to the equity capital raising, the Company will issue an aggregate of 1,008,403,361 new ordinary shares at GBP 0.238 pence (0.425 AUD cents) per share (Subscription), with the Subscription to be completed in two tranches with each subscriber participating in Tranche 1 and 2 on a pro-rata basis:
Tranche 1: 405,000,000 ordinary shares issued at GBP 0.238 pence for £0.964 million under the Company’s existing ASX LR7.1 capacity (already completed).
Tranche 2: 603,403,361 ordinary shares issued at GBP 0.238 pence for £1.436 million subject to shareholder approval being obtained. Such approval was obtained from the shareholders at the General Meeting held on 8 June 2021 (partially completed).
AIM Admission and Total Voting Rights
Application has been made to the London Stock Exchange plc for the admission of 251,418,066 new ordinary shares (Shares) to trading on AIM (Admission). Admission of the Shares is expected to become effective and dealings to commence at 8.00 a.m. on 15 June 2021. Following Admission, the Company will have 5,314,067,432 shares in issue. The Company does not currently hold any shares in treasury. Accordingly, the total number of voting rights will be 5,314,067,432.
An Appendix 2A pursuant to the issue of the 251,418,066 ordinary shares is attached to this announcement.
http://www.rns-pdf.londonstockexchange.com/rns/4886B_1-2021-6-10.pdf
An Appendix 3B for the issue of the 1,008,403,361 ordinary shares pursuant to the Subscription has been previously announced.
Section 708A(5)(e) Statement
Pursuant to the issue of the 251,418,066 ordinary shares, Oilex gives notice under section 708A(5)(e) of the Corporations Act (Cth) (Act) that:
1) Oilex issued the Shares without disclosure to investors under Part 6D.2 of the Act;
2) As at the date of this notice, Oilex has complied with:
a) the provisions of Chapter 2M of the Act as they apply to Oilex; and
b) section 674 of the Act; and
3) As at the date of this notice, there is no information that is ‘excluded information’ within the meaning of sections 708A(7) and 708(8) of the Act.
For and on behalf of Oilex Ltd
Mark Bolton
Executive Director and Company Secretary
