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Oilex Ltd (OEX)

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Wednesday 07 April, 2021

Oilex Ltd

Issue of Securities

RNS Number : 7425U
Oilex Ltd
07 April 2021
 

ASX-AIM Announcement

 

 

7 April 2021

 

ASX: OEX

AIM: OEX

 

Re: Issue of Securities

 

Oilex Ltd (Oilex or the Company) advises that it has issued 234,348,086 new ordinary shares pursuant to the exercise of unlisted options for conversion proceeds of £265,125.  The options exercised comprise:

· 204,545,455 new ordinary shares on the conversion of 204,545,455 options at £0.0011 pursuant to the Series D loan.  The issue of this options class was approved by shareholders on 30 June 2020.  There are no remaining options on issue in this class.

· 14,802,631 new ordinary shares on the conversion of 14,802,631 options at £0.0019.  The issue of this options class was approved by shareholders on 27 November 2019 and 30 June 2020.  There are no remaining options on issue in the class.

· 15,000,000 new ordinary shares on the conversion of 15,000,000 options at £0.0008.  There are no remaining options on issue in the class.

The proceeds of the unlisted options will be applied to the repayment of the Series D Loan and the Company's working capital requirements.

 

Pursuant to conversion of the options, the Company has issued 234,348,086 shares under Listing Rule 7.2 Exception 9.

 

AIM Admission and Total Voting Rights 

 

Application has been made to the London Stock Exchange plc for the admission of the 234,348,086 new shares (Shares) to trading on AIM (Admission).  Admission of the Shares is expected to become effective and dealings to commence at 8.00 a.m. on 13 April 2021.  Following Admission of these shares, the Company will have 4,655,766,968 shares in issue. The Company does not currently hold any shares in treasury.  Accordingly, the total number of voting rights will be 4,655,766,968.

 



 

Section 708A(5)(e) Statement

 

Pursuant to the issue of the 234,348,086 shares , 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.

 

 

For and on behalf of Oilex Ltd

 

 

Mark Bolton

Executive Director and Company Secretary

 

 

For further information, please contact:

 

Investor Enquires

Oilex Ltd

Joe Salomon

Managing Director

Email: [email protected]

Tel: +61 8 9485 3200

Australia

AIM Broker

Novum Securities

B roker

Colin Rowbury

Email: [email protected]

Tel: +44 20 7399 9427

UK

AIM Nominated Adviser

Strand Hanson Limited

Nominated Adviser

Rory Murphy/Ritchie Balmer 

Email: [email protected]

Tel: +44 20 7409 3494

UK

Media Enquires (UK)

Vigo Communications

Public Relations

Patrick d'Ancona/Chris McMahon

Email: [email protected]

[email protected]

Tel:+ 44 20 7390 0230 UK

 

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