Issue of Securities and s708

Oilex Ltd (the Company) is pleased to advise that it has today completed the second tranche of the capital raising announced on 11 September 2018 (Placement).

On 11 September 2018 and 17 September 2018, the Company announced a debt and equity capital raising of £0.70 million (A$1.27 million) comprising the issue of 278,237,747 shares at 0.19 pence for £0.53 million (A$0.96 million) together with loan funding of A$315,000 (£0.17 million).  As part of the loan funding, 76,437,758 Options will be issued an exercise price of A$0.004121 on or before 1 October 2019 (Series B Loan Options).  

The Company has today completed the second tranche of the Placement with the issue 91,222,451 shares at 0.19 pence for £0.17 million (A$0.31 million) and the full drawdown of the Series B Loans of A$315,000 (£0.17 million) inclusive of the issue of Series B Loan Options.

The issue of above mentioned shares and options are under LR7.1 and are included in the attached Appendix 3B.

Following today’s issue, the final tranche of the Placement comprising 29,120,559 shares at 0.19 pence for £0.06 million (A$0.1 million) is anticipated to be completed in early October 2018.

Issue of Director and Consultant Shares

Further to the announcement on 17 September 2018, the Company advises that it has today issued 10,526,315 shares at £0.0019 per share as well as 317,029 shares at A$0.004 per share to consultants in lieu of fees payable.  The shares have been issued under LR7.1 and are included in the attached Appendix 3B.

The Company further advises that it has issued 3,467,070 new ordinary shares at A$0.004 per share in lieu of Non-Executive Directors’ fees as approved by shareholders on 29 November 2017.  

       Shares   issued

 

 

Mr B Lingo

2,785,500

Mr P Haywood

681,570

 

3,467,070

 

Section 708A(5)(e) Statement

Pursuant to the issue of the abovementioned shares and the Series B Loan Options, Oilex gives notice under section 708A(5)(e) of the Corporations Act (Cth) (Act) that:

1)       Oilex issued the Shares without disclosure to investors under Part 6D.2 of the Act;

2)       As at the date of this notice, Oilex has complied with:

a)       the provisions of Chapter 2M of the Act as they apply to Oilex; and

b)       section 674 of the Act; and

3)       As at the date of this notice, there is no information that is ‘excluded information’ within the meaning of sections 708A(7) and 708(8) of the Act.

Total Voting Rights

Pursuant to the above, application has been made for, in aggregate, 105,532,865 shares to be admitted to trading on AIM with effect from 8.00am on 1 October 2018 (Admission). Following Admission, the share capital of the Company will comprise 2,265,395,981 shares and, accordingly, the total number of voting rights will be 2,265,395,981.

Issue of Securities and s708