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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
88 Energy Limited | LSE:88E | London | Ordinary Share | AU00000088E2 | ORD NPV (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.0025 | -1.47% | 0.1675 | 0.165 | 0.17 | 0.1675 | 0.1625 | 0.1675 | 398,859,061 | 11:46:56 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Crude Petroleum & Natural Gs | 0 | -14.44M | -0.0006 | 0.00 | 0 |
TIDM88E
RNS Number : 5977N
88 Energy Limited
27 October 2016
27 October 2016
88 Energy Limited
A$11m Placement - Cleansing Notice and Appendix 3B
Further to the announcement released to ASX on 25 October 2016, the Directors of 88 Energy Limited ("the Company") provide a notice for the purposes of section 708A(5)(e) of the Corporations Act 2001.
A total of 275,000,000 fully paid ordinary shares were issued to professional and sophisticated investors at an issue price of A$0.04 per Share under the Company's 15% Placement Capacity under Listing Rule 7.1. In addition, 137,500,000 Unlisted Options (exercisable at A$0.055 per Option on or before the date which is 5 years from the date of completion), were issued to placement participants.
A further 22,000,000 Unlisted Options (exercisable at A$0.05 per Option on or before the date which is 5 years from the date of completion), were issued to the Company's US placement agent, Maxim Group LLC.
The Shares are part of a class of securities quoted on ASX and may be subject to a subsequent offer for sale.
The Company issued the Shares and Options above without a disclosure document to investors under Part 6D.2 of the Corporations Act.
The Company, as at the date of this notice, has complied with:
(a) the provisions of Chapter 2M of the Corporations Act; and
(b) section 674 of the Corporations Act.
There is no excluded information, as defined in sections 708A(7) and 708A(8) of the Corporations Act, as at the date of this notice.
Media and Investor Relations:
88 Energy Ltd
Dave Wall, Managing Director Tel: +61 8 9485 0990
Email: admin@88energy.com
Finlay Thomson, Investor Relations Tel: +44 7976 248471
Hartleys Ltd
Dale Bryan Tel: + 61 8 9268 2829
Cenkos Securities
Neil McDonald/Derrick Lee Tel: +44 131 220 6939
This announcement contains inside information.
Rule 2.7, 3.10.3, 3.10.4, 3.10.5
Appendix 3B
New issue announcement,
application for quotation of additional securities
and agreement
Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.
Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13
Name of entity 88 ENERGY LIMITED ----------------- ABN 80 072 964 179 --------------
We (the entity) give ASX the following information.
Part 1 -- All issues
You must complete the relevant sections (attach sheets if there is not enough space).
1 +Class of +securities 1. Fully Paid Ordinary Shares issued or to be issued 2. Unlisted Options 3. Unlisted Options 2 Number of +securities 1. 275,000,000 issued or to be issued (if known) or maximum number which may be issued 2. 137,500,000 3. 22,000,000 3 Principal terms of 1. Fully Paid Ordinary Shares the +securities (e.g. 2. Unlisted Options (exercisable if options, exercise at $0.055 on or before the date price and expiry date; which is 5 years from the date if partly paid +securities, of issue) the amount outstanding 3. Unlisted Options (exercisable and due dates for at $0.05 on or before the date payment; if +convertible which is 5 years from the date securities, the conversion of issue) price and dates for conversion) --------------------------------------------- 4 Do the +securities 1. Yes rank equally in all 2. No - Ordinary shares issued respects from the upon exercise of the options +issue date with an will rank equally with existing existing +class of quoted ordinary shares quoted +securities? 3. No - Ordinary shares issued upon exercise of the options If the additional will rank equally with existing +securities do not quoted ordinary shares rank equally, please state: * the date from which they do * the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment * the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment ---------------------------------------- 5 Issue price or consideration 1. $0.04 per share 2. Nil 3. Nil ---------------------------------------- Purpose of the issue 6 (If issued as consideration Placement announced to ASX on for the acquisition 25 October 2016 under the Company's of assets, clearly 15% placement capacity under identify those assets) Listing Rule 7.1 to US based institutional investors to raise A$11 million. Funds will be used for the drilling of the Company's Icewine #2 well, to progress the Company's exploration program at Project Icewine, to pursue complementary growth opportunities in Alaska, and for working capital. -------------------------------------------------------------- Is the entity an +eligible Yes 6a entity that has obtained security holder approval under rule 7.1A? If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i -------------------------------------------------------------- The date the security 31 May 2016 6b holder resolution under rule 7.1A was passed -------------------------------------------------------------- Number of +securities N/A 6c issued without security holder approval under rule 7.1 -------------------------------------------------------------- Number of +securities N/A 6d issued with security holder approval under rule 7.1A -------------------------------------------------------------- Number of +securities N/A 6e issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting) -------------------------------------------------------------- Number of +securities N/A 6f issued under an exception in rule 7.2 -------------------------------------------------------------- If +securities issued N/A 6g under rule 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the +issue date and both values. Include the source of the VWAP calculation. -------------------------------------------------------------- If +securities were N/A 6h issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market
Announcements -------------------------------------------------------------- Calculate the entity's 149.627,063 under rule 7.1 6i remaining issue capacity 389,418,042 under rule 7.1A under rule 7.1 and 539,045,105 Total rule 7.1A - complete Annexure 1 and release to ASX Market Announcements -------------------------------------------------------------- 7 +Issue dates 27 October 2016 Note: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12). For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in Appendix 7A. Cross reference: item 33 of Appendix 3B. Number +Class -------------------------------------- ---------------------- Fully paid ordinary Number and +class shares of all +securities 4,169,180,418 quoted on ASX (including Listed Options the +securities in ($0.02; Expiry 8 section 2 if applicable) 413,459,650 2 March 2018) -------------------------------------- ---------------------- Number +Class -------------- ----------------------------------------- 9 Number and +class of 2,500,000 Unlisted options exercisable at $0.45 all +securities on or before 31 October 2016 not quoted on ASX (including the +securities 1,000,000 Unlisted options exercisable at $0.42 in section on or before 12 June 2017 (vesting 2 if applicable) conditions apply) 2,000,000 Unlisted options exercisable at $0.28 on or before 12 June 2017 250,000 Unlisted options exercisable at $0.16 1,000,000 on or before 12 June 2017 45,000,000 Unlisted options exercisable at $0.014 on or before 2 March 2018 13,224,952 Unlisted options exercisable at $0.015 on or before 18 February 2018 62,965,301 Unlisted options exercisable at $0.016 on or before 31 August 2018 137,500,000 Unlisted options exercisable at $0.021 on or before 1 November 2018 22,000,000 Unlisted options exercisable at $0.055 on or before 27 October 2021 Unlisted options exercisable at $0.05 on or before 27 October 2021 -------------- ----------------------------------------- 10 Dividend N/A policy (in the case of a trust, distribution policy) on the increased capital (interests) ---------------------------------------------------------
Part 2 -- Pro rata issue
11 Is security holder N/A approval required? ---- 12 Is the issue renounceable N/A or non-renounceable? ---- 13 Ratio in which the N/A +securities will be offered 14 +Class of +securities N/A to which the offer relates ---- 15 +Record date to determine N/A entitlements ---- 16 Will holdings on different N/A registers (or subregisters) be aggregated for calculating entitlements? ---- 17 Policy for deciding N/A entitlements in relation to fractions ---- 18 Names of countries N/A in which the entity has security holders who will not be sent new offer documents Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7. ---- 19 Closing date for receipt N/A of acceptances or renunciations ---- 20 Names of any underwriters N/A ---- 21 Amount of any underwriting N/A fee or commission ---- 22 Names of any brokers N/A to the issue ---- 23 Fee or commission payable N/A to the broker to the issue ---- 24 Amount of any handling N/A fee payable to brokers who lodge acceptances or renunciations on behalf of security holders ---- 25 If the issue is contingent N/A on security holders' approval, the date of the meeting ---- 26 Date entitlement and N/A acceptance form and offer documents will be sent to persons entitled ---- 27 If the entity has issued N/A options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders ---- 28 Date rights trading N/A will begin (if applicable) ---- 29 Date rights trading N/A will end (if applicable) ---- 30 How do security holders N/A sell their entitlements in full through a broker? ---- 31 How do security holders N/A sell part of their entitlements through a broker and accept for the balance? ---- 32 How do security holders N/A dispose of their entitlements (except by sale through a broker)? ---- 33 +Issue date N/A ----
Part 3 -- Quotation of securities
You need only complete this section if you are applying for quotation of securities
34 Type of +securities (tick one) (a) X +Securities described in Part 1 (b) All other +securities Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities
Entities that have ticked box 34(a)
Additional securities forming a new class of securities
Tick to indicate you are providing the information or documents 35 If the +securities are +equity securities, the names of the 20 largest holders of the additional +securities, and the number and percentage of additional +securities held by those holders 36 If the +securities are +equity securities, a distribution schedule of the additional +securities setting out the number of holders in the categories 1 - 1,000 1,001 - 5,000 5,001 - 10,000 10,001 - 100,000 100,001 and over 37 A copy of any trust deed for the additional +securities
Entities that have ticked box 34(b)
38 Number of +securities N/A for which +quotation is sought 39 +Class of +securities N/A for which quotation is sought --------- 40 Do the +securities N/A rank equally in all respects from the +issue date with an existing +class of quoted +securities? If the additional +securities do not rank equally, please state: * the date from which they do * the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment * the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment 41 Reason for request N/A for quotation now Example: In the case of restricted securities, end of restriction period (if issued upon conversion of another +security, clearly identify that other +security) --------- Number +Class ------- --------- 42 Number and +class of N/A all +securities quoted on ASX (including the +securities in clause 38) ------- --------- (i) Quotation agreement
1 +Quotation of our additional +securities is in ASX's absolute discretion. ASX may quote the +securities on any conditions it decides.
2 We warrant the following to ASX.
-- The issue of the +securities to be quoted complies with the law and is not for an illegal purpose.
-- There is no reason why those +securities should not be granted +quotation.
-- An offer of the (+) securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.
Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty
-- Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any +securities to be quoted and that no-one has any right to return any +securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the +securities be quoted.
-- If we are a trust, we warrant that no person has the right to return the +securities to be quoted under section 1019B of the Corporations Act at the time that we request that the +securities be quoted.
3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.
4 We give ASX the information and documents required by this form. If any information or document is not available now, we will give it to ASX before +quotation of the +securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.
Sign here: Date: 27 October 2016
(Company Secretary)
Print name: Sarah Smith
== == == == ==
Appendix 3B - Annexure 1
Calculation of placement capacity under rule 7.1 and rule 7.1A for eligible entities
Introduced 01/08/12 Amended 04/03/13
Part 1
Rule 7.1 - Issues exceeding 15% of capital ------------------------------------------------------------------------------------------------------- Step 1: Calculate "A", the base figure from which the placement capacity is calculated ------------------------------------------------------------------------------------------------------- Insert number of fully paid +ordinary securities on issue 12 months before the +issue date or date of agreement to issue 2,345,346,023 -------------------------------------------------------------- --------------------------------------- Add the following: * Number of fully paid +ordinary securities issued in 300,000,000 issued 30 November that 12 month period under an exception in rule 7.2 2015 442,834,800 issued 18 December 2015 52,128,585 issued 16 February * Number of fully paid +ordinary securities issued in 2016 (on exercise of Options that 12 month period with shareholder approval previously approved by Shareholders) 24,758,964 issued 17 February 2016 (on exercise of Options previously approved by Shareholders) 2,500,000 issued 19 February 2016 (on exercise of Options previously approved by Shareholders) 1,900,000 issued 22 February 2016 (on exercise of Options * Number of partly paid +ordinary securities that previously approved by Shareholders) became fully paid in that 12 month period 3,000,000 issued 2 March 2016 (on exercise of Options previously issued under Employee Incentive Note: Option Scheme) * Include only ordinary securities here - other classes 3,000,000 issued 4 March 2016 of equity securities cannot be added (on exercise of Options previously issued under Employee Incentive Option Scheme) * Include here (if applicable) the securities the 3,400,000 issued 4 March 2016 subject of the Appendix 3B to which this form is (on exercise of options previously annexed approved by Shareholders) 119,618 issued 10 March 2016 (on exercise of options previously * It may be useful to set out issues of securities on approved by Shareholders) different dates as separate line items 1,416,666 issued 11 March 2016 (on exercise of options previously approved by Shareholders) 500,000 issued 11 March 2016 (on exercise of options previously approved by Shareholders) 3,000,000 issued 17 March 2016 (on exercise of Options previously issued under Employee Incentive Option Scheme) 200,000 issued 19 April 2016 (on exercise of Options previously approved by Shareholders) 51,215 issued 18 May 2016 (on exercise of Options previously approved by Shareholders) 476,709,698 issued 3 May 2016 and ratified at AGM on 31 May 2016 238,354,849 issued 3 May 2016 and ratified at AGM on 31 May 2016 1,000,000 issued 9 September 2016 (on exercise of Options previously approved by Shareholders) -------------------------------------------------------------- ---------------------------------------
Subtract the number of fully paid +ordinary securities cancelled during that 12 month period 5,500,000 540,000 -------------------------------------------------------------- --------------------------------------- "A" 3,894,180,418 -------------------------------------------------------------- --------------------------------------- Step 2: Calculate 15% of "A" ------------------------------------------------------------------------------------------------- "B" 0.15 [Note: this value cannot be changed] ------------------------------------------------------------- ---------------------------------- Multiply "A" by 0.15 584,127,063 ------------------------------------------------------------- ---------------------------------- Step 3: Calculate "C", the amount of placement capacity under rule 7.1 that has already been used ------------------------------------------------------------------------------------------------- Insert number of +equity securities issued or agreed to be issued in that 12 month 275,000,000 Ordinary Shares period not counting those issued 25 October 2016 issued: 137,500,000 Unlisted Options * Under an exception in rule 7.2 issued 25 October 2016 ($0.055; 5 year term) 22,000,000 Unlisted Options * Under rule 7.1A issued 25 October 2016 ($0.05; 5 year term) * With security holder approval under rule 7.1 or rule 7.4 Note: * This applies to equity securities, unless specifically excluded - not just ordinary securities * Include here (if applicable) the securities the subject of the Appendix 3B to which this form is annexed * It may be useful to set out issues of securities on different dates as separate line items ------------------------------------------------------------- ---------------------------------- "C" 434,500,000 ------------------------------------------------------------- ---------------------------------- Step 4: Subtract "C" from ["A" x "B"] to calculate remaining placement capacity under rule 7.1 ------------------------------------------------------------------------------------------------- "A" x 0.15 Note: number must be same as shown in Step 2 584,127,063 ------------------------------------------------------------- ---------------------------------- Subtract "C" Note: number must be same as shown in Step 3 434,500,000 ------------------------------------------------------------- ---------------------------------- Total ["A" x 0.15] - "C" 149,627,063 [Note: this is the remaining placement capacity under rule 7.1] ------------------------------------------------------------- ----------------------------------
Part 2
Rule 7.1A - Additional placement capacity for eligible entities -------------------------------------------------------------------------------------------- Step 1: Calculate "A", the base figure from which the placement capacity is calculated -------------------------------------------------------------------------------------------- "A" Note: number must be same as shown in Step 1 of Part 1 3,894,180,418 -------------------------------------------------------------- ---------------------------- Step 2: Calculate 10% of "A" -------------------------------------------------------------------------------------------- "D" 0.10 Note: this value cannot be changed -------------------------------------------------------------- ---------------------------- Multiply "A" by 0.10 389,418,042 -------------------------------------------------------------- ---------------------------- Step 3: Calculate "E", the amount of placement capacity under rule 7.1A that has already been used -------------------------------------------------------------------------------------------- Insert number of +equity securities issued or agreed - to be issued in that 12 month period under rule 7.1A Notes: * This applies to equity securities - not just ordinary securities * Include here - if applicable - the securities the subject of the Appendix 3B to which this form is annexed * Do not include equity securities issued under rule 7.1 (they must be dealt with in Part 1), or for which specific security holder approval has been obtained * It may be useful to set out issues of securities on different dates as separate line items -------------------------------------------------------------- ---------------------------- "E" - -------------------------------------------------------------- ---------------------------- Step 4: Subtract "E" from ["A" x "D"] to calculate remaining placement capacity under rule 7.1A ---------------------------------------------------------------- "A" x 0.10 Note: number must be same as shown in Step 2 389,418,042 ---------------------------- ---------------------------------- Subtract "E" - Note: number must be same as shown in Step 3 ---------------------------- ---------------------------------- Total ["A" x 0.10] - "E" 389,418,042 Note: this is the remaining placement capacity under rule 7.1A ---------------------------- ----------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCGMMZGVNFGVZG
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October 27, 2016 02:07 ET (06:07 GMT)
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