Armour Energy : Proposed issue of securities - AJQ

Proposed issue of securities

Announcement Summary

For personal use only

Entity name

ARMOUR ENERGY LIMITED

Announcement Type

New announcement

Date of this announcement 4/3/2022

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
		Maximum Number of
ASX +security code	+Security description	+securities to be issued
AJQOA	OPTION EXPIRING 29-FEB-2024	96,666,667
AJQ	ORDINARY FULLY PAID	290,000,000

Proposed +issue date

14/4/2022

Refer to next page for full details of the announcement

Proposed issue of securities

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Proposed issue of securities

Part 1 - Entity and announcement details

For personal use only

1.1 Name of +Entity

ARMOUR ENERGY LIMITED

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	Registration Number
ACN	141198414
1.3	ASX issuer code
AJQ

1. The announcement is New announcement
2. Date of this announcement

4/3/2022

1.6 The Proposed issue is:

A placement or other type of issue

Proposed issue of securities

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Proposed issue of securities

Part 7 - Details of proposed placement or other issue

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?
		Yes
use	7A.1a Conditions
Approval/Condition	Date for determination	Is the date estimated or	** Approval
		+Security holder approval	4/4/2022		actual?	received/condition met?
			Actual
		Comments
personal
	P rt 7B - Issue details
		Is the proposed security a 'New	Will the proposed issue of this
		class' (+securities in a class that is	+security include an offer of
		not yet quoted or recorded by ASX)	attaching +securities?
		or an 'Existing class' (additional	No
		securities in a class that is already
		quoted or recorded by ASX)?
		Existing class
	Details of +securities proposed to be issued
For	ASX +security code and description
AJQ : ORDINARY FULLY PAID

Number of +securities proposed to be issued 290,000,000

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration?

No

Proposed issue of securities

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Proposed issue of securities

Please describe the consideration being provided for the +securities

The parties receiving the securities agreeing to assume the liability for the Tribeca Facility. The Tribeca Facility is a credit facility agreement entered into by Armour Energy Limited (as guarantor) and its subsidiary, Armour Energy (Surat Basin) Pty Ltd (Armour Surat) (as borrower).

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities

only	0.190000
		Will these +securities rank equally in all respects from their issue date with
		the existing issued +securities in that class?
		Yes
use	Is the proposed security a 'New	Will the proposed issue of this
		class' (+securities in a class that is	+security include an offer of
		not yet quoted or recorded by ASX)	attaching +securities?
		or an 'Existing class' (additional	No
		securities in a class that is already
		quoted or recorded by ASX)?
personal	Existing class
	Details of +securities proposed to be issued
		ASX +security code and description
		AJQOA : OPTION EXPIRING 29-FEB-2024
		Number of +securities proposed to be issued
		48,333,333
		Offer price details
		Are the +securities proposed to be issued being issued for a cash
		consideration?
		No
		Please describe the consideration being provided for the +securities
For
The parties receiving the securities agreeing to assume the liability for the Tribeca Facility. The Tribeca Facility is a credit
facility agreement entered into by Armour Energy Limited (as guarantor) and its subsidiary, Armour Energy (Surat Basin)
		Pty Ltd (Armour Surat) (as borrower).
		Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities
		0.000100
		Will these +securities rank equally in all respects from their issue date with
		the existing issued +securities in that class?
		Yes
	Proposed issue of securities	4 / 7

Proposed issue of securities

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)?

Will the proposed issue of this +security include an offer of attaching +securities?

No

only		Existing class
	Details of +securities proposed to be issued
			ASX +security code and description
			AJQOA : OPTION EXPIRING 29-FEB-2024
use		Number of +securities proposed to be issued
	No
		48,333,334
			Offer price details
			Are the +securities proposed to be issued being issued for a cash
personal		consideration?
	Please describe the consideration being provided for the +securities
			The Tribeca Options are to be issued as a component of the arrangements to settle the Tribeca Facility and in
			consideration of Tribeca entering into the Amendment Agreement.
			Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities
		0.000100
			Will these +securities rank equally in all respects from their issue date with
			the existing issued +securities in that class?
			Yes
	Pa t 7C - Timetable
For	7C.1 Proposed +issue date
		14/4/2022

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?

Proposed issue of securities

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