OEX.L Regulatory News (OEX)

ASX - RNS Announcement

22 March 2022

ASX: OEX

AIM: OEX

(Oilex or the Company) wishes to advise that following shareholder approval received at the 17 February 2022 Shareholder Meeting, it has issued the following securities:

· 711,295,152 unquoted options (Placement Options). The Placement Options are exercisable at GBP 0.28 pence (0.518 AUD cents) per share on or before 31 December 2022. The Options were issued to shareholders as a one free attaching unquoted option for every two Placement Shares subscribed for, in the January 2022 placement,

· 54,839,185 unquoted options, exercisable at GBP 0.14 pence (0.259 AUD cents) on or before 31 December 2023 (Fee Options), to Novum Securities.

Exercise of Options

Novum has now exercised the 54,839,185 unquoted Fee Options into fully paid ordinary shares.

AIM Admission and Total Voting Rights

Application has been made to the London Stock Exchange plc for the admission of 54,839,185 Shares to trade on AIM (Admission). Admission of the Shares is expected to become effective and dealings to commence at 8.00 a.m. on 24 March 2022. Following Admission, the Company will have 7,167,790,704 shares in issue. The Company does not currently hold any shares in treasury. Accordingly, the total number of voting rights will be 7,167,790,704.

Section 708A(5)(e) Statement

The Corporations Act (Cth) (Act) restricts the on-sale of securities issued without disclosure, unless the sale is exempt under section 708 or 708A of the Act. By giving this notice, the on sale of the Shares noted above will fall within the exemption in section 708A(5) of the Act.

Pursuant to the issue of the 54,839,185 Ordinary Shares on 17 March 2022, Oilex gives notice under section 708A(5)(e) of the Act that:

1) Oilex issued the Shares without disclosure to investors under Part 6D.2 of the Act;

2) As at the date of this notice, Oilex has complied with:

a) the provisions of Chapter 2M of the Act as they apply to Oilex; and

b) section 674 of the Act; and

3) As at the date of this notice, there is no information:

(i) That has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and

(ii) That investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:

A. The assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

B. The rights and liabilities attaching to the Shares.

The relevant Appendix 2A is lodged via ASX on-line forms.

For and on behalf of Oilex Ltd

Suzie Foreman

Company Secretary

For further information, please contact: