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6 Aug 2012 07:42
6 August 2012
Dear Sirs
Appendix 3B
Oilex Ltd (the "Company") refers to its recent announcement relating to a capital raising by way of a fully underwritten pro-rata renounceable entitlement offer.
The Company advises that a pro-rata renounceable entitlement offer of 101,329,954 fully paid ordinary shares at an issue price of $0.07 is to be made. The Company will also issue 50,664,977 options with an exercise price of $0.15 expiring 7 September 2015 on the basis of one option for every 2 shares subscribed for.
For and on behalf of Oilex Ltd
Ben Clube
Finance Director / Company Secretary
cc: Directors - BMc/RB/MC/SB/RM
Rule 2.7, 3.10.3, 3.10.4, 3.10.5
Appendix 3B
New issue announcement,application for quotation of additional securitiesand 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 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003, 24/10/2005, 01/08/2012.
Name of entity |
OILEX LTD |
ABN |
50 078 652 632 |
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 issued or to be issued
| (a) Ordinary Shares (b) Options |
2. | Number of +securities issued or to be issued (if known) or maximum number which may be issued
|
(a) 101,329,954 fully paid ordinary shares
(b) 50,664,977 options |
3. | Principal terms of the +securities (eg, 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) |
(a) Fully paid ordinary shares
(b) Options with an exercise price of $0.15 expiring on 7 September 2015 |
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4. | Do the +securities rank equally in all respects from the date of allotment 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 |
(a) Yes. Ordinary shares will rank equally with existing ordinary shares
(b) Options will not rank equally. Shares issued upon exercise of options will rank equally with existing ordinary shares |
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5. | Issue price or consideration
| (a) Ordinary shares $0.07
(b) Options - Nil |
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6. | Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets)
| To provide funds to drill an offset well near the Cambay-76H well and conduct a production test to assess the commerciality of the Cambay Y Zone tight reservoirs in the Cambay Contract Area, and for general working capital.
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6a | Is the entity an +eligible 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 | No |
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6b | The date the security holder resolution under rule 7.1A was passed | N/A |
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6c | Number of +securities issued without security holder approval under rule 7.1 | N/A |
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6d | Number of +securities issued with security holder approval under rule 7.1A | N/A | ||||
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6e | Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)
| N/A | ||||
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| 6f | Number of securities issued under an exception in rule 7.2 | N/A | ||||
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| 6g | If securities issued 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. | N/A | ||||
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6h | If securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements | N/A | ||||
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6i | Calculate the entity's remaining issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements | N/A | ||||
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7. | Dates of entering +securities into uncertificated holdings or despatch of certificates
|
Allotment date 7 September 2012 | ||||
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Number | +Class | |||||
8. | Number and +class of all +securities quoted on ASX (including the securities in clause 2 if applicable)
|
354,654,839
50,664,977 |
Ordinary Shares
Options | |||
Number | +Class | |||
9. | Number and +class of all +securities not quoted on ASX (including the securities in clause 2 if applicable)
|
2,000,000 16,687,500 75,000 4,150,000 8,737,500 75,000
|
$0.30 Options due 15/09/2012 $0.30 Options due 10/11/2012 $0.50 Options due 01/08/2013 $0.30 Options due 01/07/2014 $0.37 Options due 10/11/2014 $0.63 Options due 01/08/2015
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2008 Performance Rights
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22,000 | Tranche 3 expire 1/07/2013 | |||
10. | Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests) |
N/A | ||
Part 2 ‑ Bonus issue or pro rata issue [Item 11 to 33 - Not Applicable]
11 | Is security holder approval required?
| No
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12 | Is the issue renounceable or non-renounceable? | Renounceable |
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13 | Ratio in which the +securities will be offered | 2 new shares for every 5 shares held and one attaching option for every 2 new shares subscribed for |
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14 | +Class of +securities to which the offer relates | (a) Ordinary fully paid shares
(b) Options to acquire ordinary fully paid shares |
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15 | +Record date to determine entitlements | 5.00pm WST 15 August 2012
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16 | Will holdings on different registers (or subregisters) be aggregated for calculating entitlements? | N/A |
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17 | Policy for deciding entitlements in relation to fractions
| Fractional entitlements will be rounded up to the nearest whole number of shares or options |
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18 | Names of countries in which the entity has +security holders who will not be sent new issue documents Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7. | China Channel Islands Czech Republic Spain Greece Hong Kong Switzerland United Arab Emirates India Ireland Japan Netherlands Sultanate of Oman Papua New Guinea Portugal Singapore Thailand United States of America British Virgin Islands
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19 | Closing date for receipt of acceptances or renunciations | 30 August 2012 |
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20 | Names of any underwriters
| Patersons Securities Limited |
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21 | Amount of any underwriting fee or commission | $425,586 management and underwriting fee plus 101,329,954 options to acquire ordinary shares at an exercise price of $0.07 expiring 7 September 2015 |
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22 | Names of any brokers to the issue
| Patersons Securities Limited |
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23 | Fee or commission payable to the broker to the issue | $60,000 |
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24 | Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of +security holders | N/A |
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25 | If the issue is contingent on +security holders' approval, the date of the meeting | N/A |
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26 | Date entitlement and acceptance form and prospectus or Product Disclosure Statement will be sent to persons entitled | 16 August 2012 |
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27 | If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders | 6 August 2012 |
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28 | Date rights trading will begin (if applicable) | 9 August 2012 |
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29 | Date rights trading will end (if applicable)
| 23 August 2012 |
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30 | How do +security holders sell their entitlements in full through a broker? | Complete back of Entitlement and Acceptance Form and send to broker |
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31 | How do +security holders sell part of their entitlements through a broker and accept for the balance? | Complete back of Entitlement and Acceptance Form and send to broker together with the rights to be accepted |
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32 | How do +security holders dispose of their entitlements (except by sale through a broker)? | Complete a standard renunciation or transfer form (obtainable from broker or share registry) and send together with Entitlement and Acceptance Form |
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33 | +Despatch date
| 7 September 2012 |
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) | 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) [Items 35 to 42 - Not Applicable]
Additional securities forming a new class of securities
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.
·; We warrant that if confirmation is required under section 1017F of the Corporations Act in relation to the +securities to be quoted, it has been provided 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 not available now, 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: 6 August 2012
(Finance Director / Company Secretary)
Print name: Ben Clube
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