Kogi Iron : Proposed issue of securities - KFE

Announcement Summary

Entity name

KOGI IRON LIMITED

Announcement Type New announcement

Date of this announcement 30/3/2022

The Proposed issue is:

An offer of securities under a securities purchase plan

Total number of +securities proposed to be issued for an offer of securities under a securities purchase plan

+Record date 29/3/2022

Offer closing date 29/4/2022

+Issue date 6/5/2022

Refer to next page for full details of the announcementPart 1 - Entity and announcement details

1.1 Name of +Entity

KOGI IRON 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 ABN

Registration Number 28001894033

1.3 ASX issuer code KFE

1.4 The announcement isNew announcement

1.5 Date of this announcement 30/3/2022

1.6 The Proposed issue is:

An offer of +securities under a +securities purchase planPart 4 - Details of proposed offer under securities purchase planPart 4A - Conditions

4A.1 Do any external approvals need to be obtained or other conditions satisfied before the offer of +securities under the +securities purchase plan issue can proceed on an unconditional basis?

Yes

4A.1a Conditions

Approval/Condition +Security holder approval

Date for determination 31/5/2022

Is the date estimated or actual?

Estimated

** Approval received/condition met?

Comments

Part 4B - Offer details

Class or classes of +securities that will participate in the proposed issue and class or classes of +securities proposed to be issued

ASX +security code and description

KFE : ORDINARY FULLY PAID

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

Yes

Details of +securities proposed to be issued

ASX +security code and description

KFE : ORDINARY FULLY PAID

Maximum total number of those +securities that could be issued if all offers under the +securities purchase plan are accepted

412,500,000

Will the offer be conditional on applications for a minimum number of +securities being received or a minimum amount being raised (i.e. a minimum subscription condition)?

No

Will the offer be conditional on applications for a maximum number of +securities being received or a maximum amount being raised (i.e. a maximum subscription condition)?

No

Will individual security holders be required to accept the offer for a minimum number or value of +securities (i.e. a minimum acceptance condition)?

No

Will individual security holders be limited to accepting the offer for a maximum number or value of +securities (i.e. a maximum acceptance condition)?

No

Describe all the applicable parcels available for this offer in number of securities or dollar value

Under the SPP, each Eligible Shareholder who held Shares in the Company at the record date will be entitled to acquire up to $30,000 of SPP Shares without brokerage).

Offer price details

Has the offer price been determined?

Yes

In what currency will the offer Proposed issue of securities

What is the offer price per 4 / 8

In what currency will the offer

be made?

AUD - Australian Dollar

What is the offer price per +security?

AUD 0.00800

Oversubscription & Scale back details

onlyFor personal use

Will a scale back be applied if the offer is over-subscribed?

Yes

Describe the scale back arrangements

The Company may scale back at the Board's sole discretion.

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class?

Yes

Attaching +Security

The proposed attaching security can only be of an 'Existing class' (additional +securities in a class that is already quoted or recorded by ASX)

New class

Attaching +Security - New class (+securities in a class that is not yet quoted or recorded by ASX)

Details of attaching +securities proposed to be issuedISIN Code (if Issuer is a foreign company and +securities are non CDIs)Have you received confirmation from ASX that the terms Will the entity be seeking quotation of the 'new' class ofof the proposed +securities are appropriate and equitable under listing rule 6.1?

No

ASX +security code

New class-code to be confirmed

Listed Options

+Security type

Options

+securities on ASX?

Yes

+Security descriptionOffer ratio (ratio of attaching securities at which the new +securities will be issued)The quantity of attaching +securities to be issued 2

For a given quantity of the new +securities issued 1

What will be done with fractional entitlements?

Fractions rounded up to the next whole number

Maximum total number of those +securities that could be issued if all offers under the +securities purchase plan are accepted 206,500,000