TIDMOEX

RNS Number : 7425U

Oilex Ltd

07 April 2021

ASX-AIM Announcement

7 April 2021

ASX: OEX

AIM: OEX

Re: Issue of Securities

Oilex Ltd (Oilex or the Company) advises that it has issued 234,348,086 new ordinary shares pursuant to the exercise of unlisted options for conversion proceeds of GBP265,125. The options exercised comprise:

-- 204,545,455 new ordinary shares on the conversion of 204,545,455 options at GBP0.0011 pursuant to the Series D loan. The issue of this options class was approved by shareholders on 30 June 2020. There are no remaining options on issue in this class.

-- 14,802,631 new ordinary shares on the conversion of 14,802,631 options at GBP0.0019. The issue of this options class was approved by shareholders on 27 November 2019 and 30 June 2020. There are no remaining options on issue in the class.

-- 15,000,000 new ordinary shares on the conversion of 15,000,000 options at GBP0.0008. There are no remaining options on issue in the class.

The proceeds of the unlisted options will be applied to the repayment of the Series D Loan and the Company's working capital requirements.

Pursuant to conversion of the options, the Company has issued 234,348,086 shares under Listing Rule 7.2 Exception 9.

AIM Admission and Total Voting Rights

Application has been made to the London Stock Exchange plc for the admission of the 234,348,086 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 13 April 2021. Following Admission of these shares, the Company will have 4,655,766,968 shares in issue. The Company does not currently hold any shares in treasury. Accordingly, the total number of voting rights will be 4,655,766,968.

Section 708A(5)(e) Statement

Pursuant to the issue of the 234,348,086 shares , Oilex gives notice under section 708A(5)(e) of the Corporations Act (Cth) (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 that is 'excluded information' within the meaning of sections 708A(7) and 708(8) of the Act.

For and on behalf of Oilex Ltd

Mark Bolton

Executive Director and Company Secretary

For further information, please contact:

 
 Investor Enquires            AIM Broker                    AIM Nominated                  Media Enquires 
  Oilex Ltd                   Novum Securities              Adviser                        (UK) 
  Joe Salomon                 B roker                       Strand Hanson                  Vigo Communications 
  Managing Director           Colin Rowbury                 Limited                        Public Relations 
  Email: oilex@oilex.com.au   Email:                        Nominated Adviser              Patrick d'Ancona/Chris 
  Tel: +61 8 9485             crowbury@novumsecurities.co   Rory Murphy/Ritchie            McMahon 
  3200                        m                             Balmer                         Email: 
  Australia                   Tel: +44 20 7399              Email:                         patrick.dancona@vigocomms.c 
                              9427                          oilex@strandhanson.co.uk       om 
                              UK                            Tel: +44 20 7409               chris.mcmahon@vigocomms.com 
                                                            3494                           Tel:+ 44 20 7390 
                                                            UK                             0230 UK 
 

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END

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April 07, 2021 12:51 ET (16:51 GMT)

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