Great Southern Mining : Unmarketable Parcels Sale Facility

ASX ANNOUNCEMENT

ASX: GSN

For personal use only

28 January 2022

The Listing Manager

ASX Market Announcements

ASX Limited

Dear Sir or Madam

Great Southern Mining Limited ("GSN" or "COMPANY") - Sale of Unmarketable Parcels of Shares

GSN is pleased to advise that it has established an Unmarketable Parcel Sale Facility (Facility) for shareholders who hold less than A$500 worth of fully paid, ordinary shares in the Company (Shares), (Unmarketable Parcel).

Based on the price of Shares at the close of trading on Thursday, 27 January 2022 (Record Date) of A$0.044, a holding of less than 11,364 Shares constitutes an Unmarketable Parcel.

The Company is offering the Facility to enable shareholders who hold an Unmarketable Parcel to sell their Shares without having to act through a broker or pay brokerage or handling fees. GSN will pay all costs associated with the sale and transfer of Shares through the Facility (excluding any tax consequences of the sale, which will be the responsibility of relevant shareholders).

The sale of Unmarketable Parcels through the Facility will also benefit the Company, as it is expected to significantly reduce the administrative costs associated with maintaining a large number of small shareholdings on the Company's share register. In accordance with the Company's Constitution (Constitution) and the ASX Listing Rules, the attached letter and share retention form (Retention Form) will be sent to all shareholders who hold an Unmarketable Parcel on the Record Date.

Shareholders who hold an Unmarketable Parcel and wish to retain their Shares must "opt-out" of the Facility by returning their duly completed Retention Form to the Company's share registry Link Market Services (Link) in accordance with the instructions on the Retention Form, by no later than 5:00pm (AEST) on Thursday, 17 March 2022 (Closing Time). Any shareholder who holds an Unmarketable Parcel and does not return a duly completed Retention Form by the Closing Time will have their Shares sold through the Facility.

GSN will engage a broker to sell the Shares under the Facility, and the proceeds from the sale of the Shares will be remitted to participating shareholders as soon as practicable following settlement of all Shares sold through the Facility.

Suite 4, 213 Balcatta Road,	www.gsml.com.au
Balcatta, WA 6021 Australia
	ACN: 148 168 825
T [phone]	ABN: 37 148 168 825
E [e-mail]

For personal use only

The key dates in relation to the Facility are set out below:

	Event			Dates
	Record Date for establishing holders of Unmarketable			7.00pm (AEST) on Thursday, 27
	Parcels			January 2022
ASX announcement regarding Unmarketable Parcels Sale		Friday, 28 January 2022
Facility
	Letter and Retention Form despatched to shareholders			Wednesday, 2 February 2022
	holding an Unmarketable Parcel
Closing Time for receipt of completed Retention Forms		5.00pm (AEST) Thursday, 17 March
			2022

GSN reserves the right to change any of the dates referred to in this announcement or the enclosed letter and Retention Form, or to vary, cancel or delay the Facility or the sale of Shares at any time before Shares are sold, by making an announcement to ASX. The Company has the ability to establish the Facility and facilitate the sale of Unmarketable Parcels under rule 2.7 of the Constitution and rule 15.13 of the ASX Listing Rules.

The Company does not provide any recommendation or advice as to whether shareholders holding an Unmarketable Parcel should sell or retain their Shares.

If you have any questions about the operation of the Facility, please contact the Company on [phone].

This announcement has been authorised for release to ASX by the Company's Board of Directors. If you have any queries in relation to this announcement, please do not hesitate to contact the Company Secretary at the number above.

Kind Regards

Mark Petricevic

Company Secretary

For personal use only

28 January 2022

Dear Shareholder,

GREAT SOUTHERN MINING LIMITED ("GSN" OR "COMPANY") - SALE OF UNMARKETABLE PARCELS OF SHARES

GSN is pleased to advise that the Company has established an Unmarketable Parcel Sale Facility (Facility) for holders of parcels of fully paid ordinary shares in the Company (Shares) with a market value of less than A$500 as at the close of trading on Thursday, 27 January 2022 (Record Date), (Unmarketable Parcel).

Based on the price of Shares at the close of trading on the Record Date of A$0.044, a holding of less than 11,364 Shares constitutes an Unmarketable Parcel.

GSN appreciates that Unmarketable Parcels can be difficult or expensive to sell, so the Company is offering the Facility to enable shareholders who hold an Unmarketable Parcel to sell their Shares without having to act through a broker or pay brokerage or handling fees. The Company will pay all costs associated with the sale and transfer of Shares through the Facility (excluding any tax consequences of the sale, which will be the responsibility of relevant shareholders).

The sale of Unmarketable Parcels through the Facility will also benefit the Company, as it is expected to significantly reduce the administrative costs associated with maintaining a large number of small shareholdings on the Company's share register. GSN has the ability to establish the Facility and facilitate the sale of Unmarketable Parcels under rule 2.7 of the Company's Constitution (Constitution) and rule 15.13 of the ASX Listing Rules.

WHY AM I RECEIVING THIS LETTER?

Our records indicate that you held an Unmarketable Parcel of Shares based on the price of Shares of A$0.044 as at close of trade on the Record Date. Unless you advise the Company by 5:00pm (AEST) on Thursday, 17 March 2022 (Closing Time) that you do NOT wish to sell your Shares, the Company intends to sell your Shares through the Facility in accordance with rule 2.7 of the Constitution and rule 15.13 of the ASX Listing Rules.

To advise the Company that you do NOT wish to sell your Shares, you must complete the share retention form (Retention Form) enclosed with this letter, and return it to the Company's share registry, Link Market Services (Link), in accordance with the instructions on the Retention Form, prior to the Closing Time. If, at the Closing Time, the value of your Shares has increased such that you no longer have an Unmarketable Parcel (eg due to an increase in the market price of Shares or the number of Shares you hold), your Shares will NOT be sold.

If you have multiple holdings of Shares which, if aggregated, would not constitute an Unmarketable Parcel, you may contact Link at 1300 554 474 (within Australia) to amalgamate your holdings. In these circumstances, your Shares will not be sold. Please also note that pursuant to rule 2.7 of the Constitution and rule 15.13.5 of the ASX Listing Rules, the Company will not sell your Shares in the event that a third party announces a takeover offer for the Company.

Suite 4, 213 Balcatta Road,	www.gsml.com.au
Balcatta, WA 6021 Australia
ACN: 148 168 825
T [phone]
ABN: 37 148 168 825
E [e-mail]

For personal use only

In accordance with its continuous disclosure obligations, the Company may release information to the ASX which may affect your decision as to whether you wish to sell or retain your Shares. If such information is released, it will be published on the ASX website (www.asx.com.au, ASX code: GSN) and on the Company's website (www.gsml.com.au).

You should be aware that the fact that your holding of Shares is described in this letter as an "unmarketable parcel" does not mean that you cannot sell your Shares at any time. The use of the term "unmarketable parcel" in this letter is to identify the value of Shares which are eligible for sale through the Facility.

WHAT DO I NEED TO DO?

As a holder of an Unmarketable Parcel as at the Record Date, your options are described below:

1. Sell your Unmarketable Parcel

If you WISH TO SELL your Shares through the Facility, you should TAKE NO ACTION. By refraining from taking any action, you will be deemed to have irrevocably appointed the Company as your agent to:

1. sell, or procure the sale of, all of your Shares at a price to be determined, without any costs being incurred by you; and
2. deal with the proceeds of the sale as set out in this letter (for more information about the payment of the sale proceeds through Link, please refer to Question 9 of the enclosed Information Sheet).

GSN will appoint a broker to sell the Shares under the Facility, and the proceeds from the sale of the Shares will be remitted to participating shareholders as soon as practicable following settlement of all Shares sold through the Facility.

2. Retain your Unmarketable Parcel

If you DO NOT WISH TO SELL your Unmarketable Parcel, you MUST OPT-OUT of the Facility by completing and returning the enclosed Retention Form in accordance with the instructions on the Retention Form so that it is received by Computershare prior to the Closing Time.

The key dates in relation to the Facility are set out below:

	Event			Dates
	Record Date for establishing holders of Unmarketable			7.00pm (AEST) on Thursday, 27
	Parcels			January 2022
ASX announcement regarding Unmarketable Parcels Sale		Friday, 28 January 2022
Facility
	Letter and Retention Form despatched to shareholders			Wednesday, 2 February 2022
	holding an Unmarketable Parcel

For personal use only

Closing Time for receipt of completed Retention Forms	5.00pm (AEST) Thursday, 17 March
	2022

GSN reserves the right to change any of the dates referred to in this announcement or the enclosed letter and Retention Form, or to vary, cancel or delay the Facility or the sale of Shares at any time before Shares are sold, by making an announcement to ASX.

The Company does not provide any recommendation or advice as to whether shareholders holding an Unmarketable Parcel should sell or retain their Shares.

Enclosed is an Information Sheet to answer questions that you may have with respect to the sale of Unmarketable Parcels. This letter is important. If you are in doubt about what to do, you should consult your legal, financial or taxation adviser.

If you have any questions about the operation of the Facility, please contact the Company on [phone].

This announcement has been authorised for release to ASX by the Company's Board of Directors. If you have any queries in relation to this announcement, please do not hesitate to contact the Company Secretary at the number above.

Kind Regards

Mark Petricevic

Company Secretary