Issue of Securities

Oilex Ltd (Oilex or the Company) advises that it has issued 166,666,667 ordinary shares at 0.36 pence (New Ordinary Shares) for £600,000 pursuant to the £650,000 equity capital raising as announced on 18 December 2018.  The settlement of the remaining balance of £50,000 is anticipated to be completed in January 2019, a further announcement thereto will be made in due course.

The issue of New Ordinary Shares under LR7.1 are included in the attached Appendix 3B.

Admission and Total Voting Rights 

Application has been made to the London Stock Exchange plc for the admission of the New Ordinary Shares to trading on AIM (Admission).

Admission of 111,111,111 of the New Ordinary Shares is expected to become effective and dealings to commence at 8.00 a.m. on 24 December 2018.  Following Admission of these shares, the Company will have 2,507,543,554 shares in issue. The Company does not currently hold any shares in treasury.  Accordingly, the total number of voting rights will be 2,507,543,554.

Admission of a further 55,555,556 New Ordinary Shares is expected to become effective and dealings to commence at 8.00 a.m. on 28 December 2018.  Following Admission of these further shares, the Company will have 2,563,099,110 shares in issue. The Company does not currently hold any shares in treasury. Accordingly, the total number of voting rights will be 2,563,099,110.

Option Issue

Pursuant to the advisory agreement with Novum Securities and SP Angel, the Company has today also issued 6,666,667 options exercisable at 0.36 pence on or before 24 September 2020 (Options).

Section 708A(5)(e) Statement

Pursuant to the issue of the abovementioned New Ordinary Shares and Options, Oilex gives notice under section 708A(5)(e) of the Corporations Act (Cth) (Act) that:

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

     

  2. As at the date of this notice, Oilex has complied with:
    1. the provisions of Chapter 2M of the Act as they apply to Oilex; and
    2. 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.
Issue of Securities