20 September 2019
PLACEMENT
NOTICE UNDER SECTION 708A(5)(e) OF THE CORPORATIONS ACT
The Directors of the Company provide a notice for the purposes of section 708A(5)(e) of the Corporations Act 2001.
540,000,000 fully paid ordinary shares were issued to professional and sophisticated investors at an issue price of A$0.0125 under the Company's 10% Placement Capacity under Listing Rule 7.1A. The shares are part of a class of securities quoted on ASX and may be subject to a subsequent offer for sale.
The Company issued the Shares above without a disclosure document to investors under Part 6D.2 of the Corporations Act.
The Company, as at the date of this notice, has complied with:
- the provisions of Chapter 2M of the Corporations Act; and
- section 674 of the Corporations Act.
There is no excluded information, as defined in sections 708A(7) and 708A(8) of the Corporations Act, as at the date of this notice. An Appendix 3B in respect of the above securities issued is attached.
Yours faithfully
Dave Wall
Managing Director
88 Energy Ltd
Appendix 3B
New issue announcement
Rule 2.7, 3.10.3, 3.10.4, 3.10.5
Appendix 3B
New issue announcement,
application for quotation of additional securities
and agreement
Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.
Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13
Name of entity
88 ENERGY LIMITED
ABN
80 072 964 179
We (the entity) give ASX the following information.
Part 1 - All issues
You must complete the relevant sections (attach sheets if there is not enough space).
- +Class of +securities issued or to be issued
- Number of +securities issued or to be issued (if known) or maximum number which may be issued
Fully Paid Ordinary Shares
540,000,000
3 | Principal | terms | of | the | Fully Paid Ordinary Shares |
+securities | (e.g. if | options, | |||
exercise price and expiry date; if | |||||
partly | paid | +securities, | the | ||
amount | outstanding | and | due | ||
dates | for | payment; | if | ||
+convertible | securities, | the | |||
conversion price and dates for | |||||
conversion) |
+ See chapter 19 for defined terms.
04/03/2013 | Appendix 3B Page 1 |
Appendix 3B
New issue announcement
- Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted +securities?
If the additional +securities do not rank equally, please state: - the date from which they do
- the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment
- the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment
- Issue price or consideration
-
Purpose of the issue
(If issued as consideration for the acquisition of assets, clearly identify those assets)
6a Is the entity an +eligible entity that has obtained security holder approval under rule 7.1A?
If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i
Yes
$0.0125 per share
Funds raised pursuant to a Placement to professional and sophisticated investors as per announcement lodged with ASX on 13 September 2019.
The Company intends to use the funds from the Placement to fund potential costs in respect of the Charlie-1 well above the Premier Oil carry, fund lease rental payments due on the Alaskan acreage, fund interest payments due on the Company's debt facility, fund new venture opportunities and finance the Company's ongoing working capital requirements and general administrative overheads.
Yes
+ See chapter 19 for defined terms.
Appendix 3B Page 2 | 04/03/2013 |
Appendix 3B
New issue announcement
6b | The date | the security | holder | 15 April 2019 | |
resolution under rule 7.1A was | |||||
passed | |||||
6c | Number | of | +securities | issued | |
Nil | |||||
without security holder approval | |||||
under rule 7.1 | |||||
6d | Number | of | +securities | issued | |
540,000,000 | |||||
with security | holder approval | ||||
under rule 7.1A | |||||
6e | Number | of | +securities | issued | |
Nil | |||||
with security | holder approval | ||||
under rule 7.3, or another | |||||
specific security holder approval | |||||
(specify date of meeting) | |||||
6f Number of +securities issued under an exception in rule 7.2
6g If +securities issued under rule 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the +issue date and both values. Include the source of the VWAP calculation.
Nil
Yes
Date of Issue: 20 September 2019
Issue Price: $0.0125
75% of 15 Day VWAP: $0.0113
Source: Commsec
6h | If +securities were issued under | N/A | ||||
rule | 7.1A | for | non-cash | |||
consideration, state | date | on | ||||
which | valuation | of | ||||
consideration | was released | to | ||||
ASX Market Announcements |
6i Calculate the entity's remaining issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements
949,731,049 under rule 7.1
93,731,049 under rule 7.1A
1,042,885,081 Total
7 | +Issue dates | 20 September 2019 | |
Note: The issue date may be prescribed by | |||
ASX (refer to the definition of issue date in | |||
rule 19.12). For example, the issue date for a | |||
pro rata entitlement issue must comply with | |||
the applicable timetable in Appendix 7A. | |||
Cross reference: item 33 of Appendix 3B. | |||
Number | +Class |
+ See chapter 19 for defined terms.
04/03/2013 | Appendix 3B Page 3 |
Appendix 3B
New issue announcement
8 Number and +class of all 6,871,540,324 +securities quoted on ASX
(including the +securities in section 2 if applicable)
Fully paid ordinary shares
Number +Class
9 Number and +class of all
+securities not 131,500,000 Unlisted options exercisable at $0.055 on or before 27
quoted on ASX | October 2021 | ||||
(including | the | ||||
+securities | in | 22,000,000 | Unlisted options exercisable at $0.05 on or before 27 October | ||
section | 2 | if | 2021 | ||
applicable) | |||||
90,000,000 | Unlisted options exercisable at $0.06 on or before 14 March | ||||
2020 | |||||
10,000,000 | Unlisted options exercisable at $0.03 on or before 31 July 2020 | ||||
21,900,000 | Performance Rights (subject to vesting conditions) | ||||
31,249,110 | Performance Rights (subject to vesting conditions) | ||||
(Employee) | |||||
10 | Dividend | ||||
N/A | |||||
policy | (in | the | |||
case of a trust, | |||||
distribution | |||||
policy) | on | the | |||
increased | |||||
capital | |||||
(interests) |
Part 2 - Pro rata issue
11 Is security holder approval N/A required?
12 | Is the issue renounceable or non- | N/A |
renounceable? |
13 Ratio in which the +securities N/A will be offered
- See chapter 19 for defined terms.
Appendix 3B Page 4 | 04/03/2013 |
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original document
- Permalink
Disclaimer
88 Energy Limited published this content on 20 September 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 September 2019 05:31:01 UTC