Proposed issue of securities
Announcement Summary
For personal use only
Entity name
ERRAWARRA RESOURCES LTD
Announcement Type
New announcement
Date of this announcement
23/11/2021
The Proposed issue is:
A placement or other type of issue
Total number of +securities proposed to be issued for a placement or other type of issue
Maximum Number of | ||
ASX +security code | +Security description | +securities to be issued |
New class-code to be | ORDINARY FULLY PAID RESTRICTED | 15,000,000 |
confirmed | ||
New class-code to be | OPTION EXPIRING 3 YEARS FROM ISSUE RESTRICTED | 7,500,000 |
confirmed |
Proposed +issue date
28/2/2022
Refer to next page for full details of the announcement
Proposed issue of securities | 1 / 7 |
Proposed issue of securities
Part 1 - Entity and announcement details
For personal use only
1.1 Name of +Entity
ERRAWARRA RESOURCES LTD
We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.
If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).
1.2 | Registered Number Type | Registration Number |
ABN | 95155472834 | |
1.3 | ASX issuer code | |
ERW |
- The announcement is New announcement
- Date of this announcement
23/11/2021
1.6 The Proposed issue is:
A placement or other type of issue
Proposed issue of securities | 2 / 7 |
Proposed issue of securities
Part 7 - Details of proposed placement or other issue
only | |||||||
Part 7A - Conditions | |||||||
7A.1 Do any external approvals need to be obtained or other conditions satisfied before the placement or other | |||||||
type of issue can proceed on an unconditional basis? | |||||||
Yes | |||||||
use | 7A.1a Conditions | ||||||
Approval/Condition | Date for determination | Is the date estimated or | ** Approval | ||||
+Security holder approval | 28/2/2022 | actual? | received/condition met? | ||||
Estimated | |||||||
Comments | |||||||
Given the related party nature of the proposed acquisition and potential impacts to voting power, shareholder approvals | |||||||
personal | will be sought by mid February 2022 pursuant to ASX Listing Rule 10.1 and Item 7, Section 611 of the Corporations Act. | ||||||
The general meeting date is indicative only. An Independent Expert's Report on the acquisition will be provided to | |||||||
shareholders along with the notice of meeting. Refer to ASX announcement dated 23 November 2021 for further | |||||||
information. | |||||||
Part 7B - Issue details | |||||||
Is the proposed security a 'New | Will the proposed issue of this | ||||||
class' (+securities in a class that is | +security include an offer of | ||||||
not yet quoted or recorded by ASX) | attaching +securities? | ||||||
or an 'Existing class' (additional | No | ||||||
securities in a class that is already | |||||||
quoted or recorded by ASX)? | |||||||
New class | |||||||
Details of +securities proposed to be issued | |||||||
For | ISIN Code (if Issuer is a foreign company and +securities are non CDIs) | ||||||
Have you received confirmation from | Will the entity be seeking quotation | ||||||
ASX that the terms of the proposed | of the 'new' class of +securities on | ||||||
+securities are appropriate and | ASX? | ||||||
equitable under listing rule 6.1? | No | ||||||
Yes |
Proposed issue of securities | 3 / 7 |
Proposed issue of securities
ASX +security code | +Security description | ||
New class-code to be confirmed | ORDINARY FULLY PAID RESTRICTED | ||
+Security type | |||
Ordinary fully or partly paid | |||
only | shares/units | ||
Number of +securities proposed to be issued | |||
15,000,000 | |||
Offer price details | |||
Are the +securities proposed to be issued being issued for a cash consideration? | |||
No | |||
use | Please describe the consideration being provided for the +securities | ||
Upon receipt of shareholders' approval and on completion of the acquisition issue 15,000,000 shares to Western | |||
Exploration (or his nominees) at a deemed issue price of $0.20 per share. The shares will be restricted for 12 months from | |||
the date of issue. Refer to ASX announcement dated 23 November 2021 for further information. | |||
Please provide an estimate of the AUD equivalent of the consideration being | |||
personal | provided for the +securities | ||
No | |||
3,000,000.000000 | |||
Will all the +securities issued in this class rank equally in all respects from | |||
their issue date? | |||
Yes | |||
Ordinary fully or partly paid shares/units details | |||
+Security currency | |||
AUD - Australian Dollar | |||
Will there be CDIs issued over the | |||
+securities? | |||
For | Is it a partly paid class of +security? | ||
No | |||
Is it a stapled +security? | |||
No | |||
Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities | |||
proposed to be issued or provide the information by separate announcement. | |||
https://www.errawarra.com/reports/121085-ERW_211123_ASX_Annc_Andover_Acquisition_19_11_21_2802248_8_pdf.p | |||
df | |||
Proposed issue of securities | 4 / 7 |
Proposed issue of securities
Is the proposed security a 'New | Will the proposed issue of this | ||
class' (+securities in a class that is | +security include an offer of | ||
not yet quoted or recorded by ASX) | attaching +securities? | ||
or an 'Existing class' (additional | No | ||
securities in a class that is already | |||
quoted or recorded by ASX)? | |||
New class | |||
Details of +securities proposed to be issued | |||
only | ISIN Code (if Issuer is a foreign company and +securities are non CDIs) | ||
Have you received confirmation from | Will the entity be seeking quotation | ||
ASX that the terms of the proposed | of the 'new' class of +securities on | ||
use | |||
+securities are appropriate and | ASX? | ||
equitable under listing rule 6.1? | No | ||
Yes | |||
ASX +security code | +Security description | ||
New class-code to be confirmed | OPTION EXPIRING 3 YEARS FROM ISSUE RESTRICTED | ||
+Security type | |||
Options | |||
personal | |||
Number of +securities proposed to be issued | |||
7,500,000 | |||
Offer price details | |||
Are the +securities proposed to be issued being issued for a cash consideration? | |||
No | |||
Please describe the consideration being provided for the +securities | |||
Upon receipt of shareholders' approval and on completion of the acquisition issue 7,500,000 options to Western | |||
Exploration (or his nominees) exercisable at $0.30 each on or before the date that is 3 years from the date of issue. The | |||
options will be restricted for 12 months from the date of issue. Refer to ASX announcement dated 23 November 2021 for | |||
further information. | |||
Please provide an estimate of the AUD equivalent of the consideration being | |||
For | provided for the +securities | ||
Will all the +securities issued in this class rank equally in all respects from | |||
their issue date? | |||
Yes | |||
Proposed issue of securities | 5 / 7 |
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Errawarra Resources Ltd. published this content on 22 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 November 2021 22:58:05 UTC.