Assore interest30 Oct 2024 10:19
The Company notes that:
(c) as at the date of this Notice of Meeting, Assore holds a voting power of 27.56% in the
Company and, throughout the 6 months prior to the date of this Notice of Meeting,
Assore had voting power of at least 19%;
(d) as at 30 April 2024, being six months prior to the date of this Notice of Meeting, the
Shares held by Assore represented 27.56%% of the total number of Shares then on
issue in the Company (being 649,669,053 Shares);
(e) the maximum relevant interest that Assore could obtain within the “3% creep”
exemption as at the date of this Notice of Meeting would therefore be 30.56%;
(f) assuming that Shareholders approve the issue of the Assore Shares to Assore under
Resolution 11, Assore will hold up to approximately 30.56% of the issued Shares in the
Company on an undiluted basis at the maximum, which represents an increase in
voting power of 3% (assuming a total issued capital of 693,147,314 Shares).
Accordingly, the Assore Shares may be issued to Assore in reliance on the “3% creep”
exemption, so that the prohibition under section 606(1) of the Corporations Act does not apply
to the Assore Shares.