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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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.01 | 4.65% | 0.225 | 0.22 | 0.23 | 0.245 | 0.215 | 0.215 | 398,445,995 | 14:04:13 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Crude Petroleum & Natural Gs | 0 | -14.44M | -0.0006 | 0.00 | 0 |
From Apr 2019 to Apr 2024
TIDM88E
RNS Number : 7909F
88 Energy Limited
31 October 2018
88 Energy Limited
Issued Share Capital & Appendix 3B
88 Energy Limited (ASX: 88E) ("88 Energy" or the "Company") confirms that following the closing of the Non-Renounceable Rights Issue, announced on 3rd October 2018 (the "Rights Issue"), the Company has issued a total of 202,295,078 new shares pursuant to the Rights Issue ("New Shares").
Following the issue of the New Shares, which rank pari passu to the existing ordinary shares in the Company, the Company has 5,775,984,724 ordinary shares in issue, all of which have voting rights. Application has been made for admission of the New Shares to trading on AIM, which is expected to occur on 1st November 2018.
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 Tel: + 44 131 220 6939
Neil McDonald/Derrick Lee
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).
Hot Features
Premium
1 +Class of +securities Fully Paid Ordinary Shares
issued or to be issued
Number of +securities
issued or to be issued
(if known) or maximum
number which may be
2 issued 202,295,078
3 Principal terms of Fully Paid Ordinary Shares
the +securities (e.g.
if options, exercise
price and expiry date;
if partly paid +securities,
the amount outstanding
and due dates for
payment; if +convertible
securities, the conversion
price and dates for
conversion)
4 Do the +securities Yes
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
5 Issue price or consideration $0.018 per share
6 Purpose of the issue Issue of Shares for pro-rata
(If issued as consideration non-renounceable Rights Issue
for the acquisition to shareholders on the basis
of assets, clearly of 1 new share for every 7 shares
identify those assets) held on the record date as per
ASX announcement released on
3(rd) October 2018, and Offer
Document lodged with ASX on
5(th) October 2018.
The Company intends to use the
funds from the Rights issue
to for potential production
testing at the Winx-1 exploration
well, possible cost overruns
associated with the drilling
of Winx-1, lease rentals and
interest costs to maintain assets
in good standing, ongoing geological
and geophysical work and working
capital and general administration.
6a Is the entity an +eligible Yes
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
6b The date the security 18 April 2018
holder resolution
under rule 7.1A was
passed
6c Number of +securities Nil
issued without security
holder approval under
rule 7.1
6d Number of +securities Nil
issued with security
holder approval under
rule 7.1A
6e Number of +securities Nil
issued with security
holder approval under
rule 7.3, or another
specific security
holder approval (specify
date of meeting)
6f Number of +securities 202,295,078 fully paid ordinary
issued under an exception shares
in rule 7.2
6g If +securities issued N/A
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.
6h If +securities were N/A
issued under rule
7.1A for non-cash
consideration, state
date on which valuation
of consideration was
released to ASX Market
Announcements
6i Calculate the entity's 787,276,042 under rule 7.1
remaining issue capacity 70,706,249 under rule 7.1A
under rule 7.1 and 857,982,291 Total
rule 7.1A - complete
Annexure 1 and release
to ASX Market Announcements
7 +Issue dates 31 October 2018
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
Number and +class
of all +securities
quoted on ASX (including
the +securities in Fully paid ordinary
8 section 2 if applicable) 5,775,984,724 shares
----------------------------------
Number +Class
9 Number and
+class of
all +securities 60,465,301 Unlisted options exercisable at $0.021
not quoted on or before 1 November 2018
on ASX (including
the +securities 131,500,000 Unlisted options exercisable at $0.055
in section on or before 27 October 2021
2 if applicable)
22,000,000 Unlisted options exercisable at $0.05
on or before 27 October 2021
90,000,000 Unlisted options exercisable at $0.06
on or before 14 March 2020
10,000,000 Unlisted options exercisable at $0.03
on or before 31 July 2020
21,900,000
Performance Rights (subject to vesting
31,249,110 conditions)
Performance Rights (subject to vesting
conditions) (Employee)
------------------------------------------------------
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 No
approval required?
12 Is the issue renounceable Non-renounceable
or non-renounceable?
13 Ratio in which the 1 share of every 7 seven shares
+securities will be held on the Record Date
offered
14 +Class of +securities Offer of ordinary shares to
to which the offer eligible holders of shares
relates at the Record Date
15 +Record date to determine 10 October 2018
entitlements
16 Will holdings on different No
registers (or subregisters)
be aggregated for calculating
entitlements?
17 Policy for deciding Rounding Up
entitlements in relation
to fractions
18 Names of countries All countries except Australia,
in which the entity New Zealand and United Kingdom
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 5:00pm (WST) 26 October 2018
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 12 October 2018
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 31 October 2018
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)
---------
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: Sarah Smith Date: 31 October 2018
(Company Secretary)
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 4,649,763,932
----------------------------------------------------
Add the following:
* Number of fully paid +ordinary securities issued in 202,295,078 shares to be issued
that 12 month period under an exception in rule 7.2 for Rights Issue
2,000,000 issued 16 January
* Number of fully paid +ordinary securities issued in 2018 (on exercise of Listed
that 12 month period with shareholder approval Options previously approved
by Shareholders)
9,344,441 issued 22 January
2018 (on exercise of Listed
Options previously approved
by Shareholders)
2,000,000 issued 30 January
2018 (on exercise of Listed
Options previously approved
by Shareholders)
5,075,000 issued 06 February
2018 (on exercise of Listed
Options previously approved
by Shareholders)
36,000,000 issued 06 February
2018 (on exercise of Options
* Number of partly paid +ordinary securities that previously approved by Shareholders)
became fully paid in that 12 month period 9,000,000 issued 07 February
2018 (on exercise of Unlisted
Options previously approved
Note: by Shareholders)
* Include only ordinary securities here - other classes 9,223,533 issued 07 February
of equity securities cannot be added 2018 (on exercise of Listed
Options previously approved
by Shareholders)
* Include here (if applicable) the securities the 28,625,037 issued 16 February
subject of the Appendix 3B to which this form is 2018 (on exercise of Listed
annexed Options previously approved
by Shareholders)
109,255,214 issued 23 February
* It may be useful to set out issues of securities on 2018 (on exercise of Listed
different dates as separate line items Options previously approved
by Shareholders)
106,313,042 issued 02 March
2018 (on exercise of Listed
Options previously approved
by Shareholders)
121,364,340 issued 09 March
2018 (on exercise of Listed
Options previously approved
by Shareholders)
9,189,043 issued 14 March
2018 (on exercise of Listed
Options previously approved
by Shareholders). Underwritten
shortfall allocation
13,224,952 shares issued on
31 August 2018 (on exercise
of Options previously approved
by Shareholders)
2,500,000 (on exercise of
Options previously approved
by Shareholders)
----------------------------------------------------
Subtract the number of fully
paid +ordinary securities
cancelled during that 12
month period
----------------------------------------------------
"A" 5,315,173,613
----------------------------------------------------
Step 2: Calculate 15% of "A"
"B" 0.15
[Note: this value cannot be
changed]
-------------------------------------------
Multiply "A" by 0.15 797,276,042
-------------------------------------------
Step 3: Calculate "C", the amount of placement capacity
under rule 7.1 that has already been used
Insert number of +equity 10,000,000 Unlisted Options
securities issued or agreed issued 31 July 2018
to be issued in that 12 month
period not counting those
issued:
* Under an exception in rule 7.2
* Under rule 7.1A
* 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" 10,000,000
-------------------------------------------
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 2 797,276,042
-------------------------------------------
Subtract "C"
Note: number must be same
as shown in Step 3 10,000,000
-------------------------------------------
Total ["A" x 0.15] - "C" 787,276,042
[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 5,315,173,613
-----------------------------------------
Step 2: Calculate 10% of "A"
"D" 0.10
Note: this value cannot be
changed
-----------------------------------------
Multiply "A" by 0.10 531,517,361
-----------------------------------------
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 460,811,112 shares issued
to be issued in that 12 month 10 May 2018
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" 460,811,112
-----------------------------------------
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 2 531,517,361
--------------------------------------------
Subtract "E"
Note: number must be same
as shown in Step 3 460,811,112
--------------------------------------------
Total ["A" x 0.10] - "E" 70,706,249
Note: this is the remaining
placement capacity under rule
7.1A
--------------------------------------------
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
IOEFKDDDBBDKKKN
(END) Dow Jones Newswires
October 31, 2018 03:00 ET (07:00 GMT)
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