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Pin to quick picksOilex Regulatory News (OEX)

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Expanded Equity Capital Raising

Wed, 30th Oct 2019 07:57

RNS Number : 6033R
Oilex Ltd
30 October 2019

ASX - RNS Announcement


30 October 2019





Expanded Equity Capital Raising


Oilex Ltd (Oilex or the Company) advises that it has expanded its recent equity capital raising by £150,000 (A$0.281 million) at a price of 0.19 pence (A$0.00356) per new ordinary share issued (the Placing).  The Placing of 78,947,368 new ordinary shares is to clients Novum Securities Limited (Novum) and existing shareholders of the Company.  The Placing is an expansion of the recent equity capital raising, being to the same subscribers and on the same terms as completed earlier this month and first announced on 30 September 2019.  The net proceeds of the Placing will be used for general working capital purposes.


Pursuant to advisory agreements with Novum, the Company will issue 2,960,526 unlisted options exercisable at 0.19 pence on or before 20 October 2021.  The issue of the shares and options, under Listing Rule 7.1, is anticipated to be completed on or about 5th November 2019.


AIM Admission and Total Voting Rights 


Completion of the Placing is conditional, inter alia, upon admission of the shares issued pursuant to the Placing to trading on AIM.  The new shares will rank pari passu in all respects with the existing shares. 


Application will be made to the London Stock Exchange plc for the admission of the 78,947,368 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 12 November 2019.  Following Admission of these shares, the Company will have 3,302,258,738 shares in issue. The Company does not currently hold any shares in treasury.  Accordingly, the total number of voting rights will be 3,302,258,738.


For and on behalf of Oilex Ltd



Mark Bolton

Chief Financial Officer Company Secretary


For further information, please contact:


Investor Enquiries

Oilex Ltd

Joe Salomon

Managing Director

Email: oilex@oilex.com.au

Tel: +61 8 9485 3200


AIM Broker

Novum Securities


Colin Rowbury

Email: crowbury@novumsecurities.com

Tel: +44 20 7399 9427


AIM Nominated Adviser

Strand Hanson Limited

Nominated Adviser

Rory Murphy/Ritchie Balmer   

Email: oilex@strandhanson.co.uk

Tel: +44 20 7409 3494


Media Enquires (UK)

Vigo Communications

Public Relations

Patrick d'Ancona/Chris McMahon

Email: patrick.dancona@vigocomms.com


Tel:+ 44 20 7390 0230


Media Enquiries (Aus)


Michael Weir

Email: mweir@citadelmagnus.com

Tel: +618 6160 4900



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.
Date   Source Headline
2nd Dec 20197:00 amRNSExtension of Bid closing Date for Cambay
29th Nov 20197:57 amRNSIssue of Options Securities
27th Nov 20191:15 pmRNSUpdated Constitution
27th Nov 20197:00 amRNSResults of the Annual General Meeting
26th Nov 20198:53 amRNSCambay PSC Update

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