Proposed issue of securitiesAnnouncement Summary
For personal use only
Entity name ADVERITAS LIMITED
Announcement Type New announcement
Date of this announcement 21/4/2022
The Proposed issue is:
A placement or other type of issue
Total number of +securities proposed to be issued for a placement or other type of issue
Proposed +issue date 22/4/2022
Refer to next page for full details of the announcementProposed issue of securities
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Proposed issue of securities
Part 1 - Entity and announcement details
1.1 Name of +Entity
ADVERITAS LIMITED
For personal use only
We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.
If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).
1.2 Registered Number Type ABN
Registration Number 88156377141
1.3 ASX issuer code AV1
1.4 The announcement isNew announcement
1.5 Date of this announcement 21/4/2022
1.6 The Proposed issue is:
A placement or other type of issue
Proposed issue of securities
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Proposed issue of securitiesPart 7 - Details of proposed placement or other issue
For personal use only
Part 7A - Conditions
7A.1 Do any external approvals need to be obtained or other conditions satisfied before the placement or other type of issue can proceed on an unconditional basis?
No
Part 7B - Issue details
Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)?
New class
Details of +securities proposed to be issued
Will the proposed issue of this +security include an offer of attaching +securities?
No
ISIN Code (if Issuer is a foreign company and +securities are non CDIs)Have you received confirmation from Will the entity be seeking quotationASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1?
Yes
ASX +security code
New class-code to be confirmed
Convertible notes
+Security type
+Convertible debt securities
of the 'new' class of +securities on ASX?
No
+Security description
Number of +securities proposed to be issued 3,000,000
Offer price details
Are the +securities proposed to be issued being issued for a cash consideration?
Yes
Proposed issue of securities
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Proposed issue of securities
In what currency is the cash consideration being paid?
AUD - Australian Dollar
What is the issue price per +security?
AUD 1.00000
For personal use only
Will all the +securities issued in this class rank equally in all respects from their issue date?
Yes
+Convertible debt securities details
These securities are: Converting
+Security currency AUD - Australian Dollar
Interest rate type Fixed rate
Frequency of coupon/interest payments per year
Quarterly
Interest rate per annum 8.00000 %
s128F of the Income Tax Assessment Act status applicable to the +security s128F exemption status unknown
Is the +security perpetual (ie. no maturity date)?
No
Select other features applicable to the +security
Redeemable
Is there a first trigger date on which a right of conversion, redemption, call or put can be exercised (whichever is first)?
Type of security Convertible note or bond
Face value
AUD 1.0000
First interest payment date
12/4/2024
Is the interest rate per annum estimated at this time?
No
Maturity date 12/4/2024
No
Details of the type of +security that will be issued if the securities are converted, transformed or exchanged
AV1 : ORDINARY FULLY PAID
Proposed issue of securities
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Proposed issue of securities
Number of +securities that will be issued if the +securities are converted, transformed or exchanged (including, if applicable, any interest)
41,844,976 fully paid ordinary shares.
Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement.
For personal use only
Refer ASX announcement of 21 April 2022.
Part 7C - Timetable
7C.1 Proposed +issue date
22/4/2022
Part 7D - Listing Rule requirements
7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1?
No
7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?
Yes
7D.1b ( i ) How many +securities are proposed to be issued without security holder approval using the entity's 15% placement capacity under listing rule 7.1?
3,000,000 convertible notes with a face value of $1 each. The calculation of the number of securities in section 7B of this Appendix 3B is based on a conversion price of $0.084 being 80% of the current 90-day VWAP, which would be the conversion price as at the date of the Appendix 3B. This variable may change depending on the 90-day VWAP at the time of conversion, but subject always to a maximum conversion price of $0.17 and a floor price of $0.08.
7D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)?
No
7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue?
No
7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules?
No
7D.4 Will any of the +securities to be issued be subject to +voluntary escrow?
No
Proposed issue of securities
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Adveritas Limited published this content on 20 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 April 2022 23:44:01 UTC.