Northern Minerals : Consolidation/Split - NTU

Notification of Consolidation/Split

Announcement Summary

Entity name

NORTHERN MINERALS LIMITED

Applicable security for the reorganisation

NTU	ORDINARY FULLY PAID
NTUAI	ORDINARY FULLY PAID
NTUAZ	PERFORMANCE RIGHTS
NTUAA	OPTION EXPIRING 02-MAR-2024 EX 4.5C
NTUAX	OPTION EXPIRING 22-FEB-2024 EX $0.074
NTUAY	OPTION EXPIRING 27-JUL-2024 EX $0.074
Announcement Type
New Announcement
Date of this announcement
10/11/2022
Reorganisation type
Security consolidation

Trading in the post consolidation or split +securities commences on a deferred settlement basis

21/12/2022

Record Date

22/12/2022

Issue Date

3/1/2023

Additional Information

NTU¿s convertible note (ASX security code NTUAB) is convertible into approximately 365.6 million ordinary shares in NTU at $0.048 per ordinary share, subject to the terms of the convertible note deed poll. Following the proposed security consolidation, the convertible note will be convertible into approximately 14.6 million ordinary shares in NTU at $1.20 per ordinary share. For further information regarding the terms of the convertible note, please see the Notice of General Meeting released to the ASX by NTU on 9 November 2022.

Notification of Consolidation/Split

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Notification of Consolidation/Split

Refer to below for full details of the announcement

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Notification of Consolidation/Split

Announcement Details

Part 1 - Entity and announcement details

1.1 Name of +Entity

NORTHERN MINERALS LIMITED

1.2	Registered Number Type	Registration Number
ABN	61119966353
1.3	ASX issuer code
NTU

1. The announcement is New announcement
2. Date of this announcement

10/11/2022

1.6 Securities affected by the consolidation or split

ASX +Security Code	ASX +Security Description
NTU	ORDINARY FULLY PAID
NTUAI	ORDINARY FULLY PAID
NTUAZ	PERFORMANCE RIGHTS
NTUAA	OPTION EXPIRING 02-MAR-2024 EX 4.5C
NTUAX	OPTION EXPIRING 22-FEB-2024 EX $0.074
NTUAY	OPTION EXPIRING 27-JUL-2024 EX $0.074

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Notification of Consolidation/Split

Part 2 - Approvals

2.1 Are any of the below approvals required for the consolidation or split before business day 0 of the timetable? Security holder approval

Court approval

Lodgement of court order with +ASIC

ACCC approval

FIRB approval

Another approval/condition external to the entity required to be given/met before business day 0 of the timetable for the consolidation or split.

Yes

2.2 Approvals

Approval/Condition	Date for determination	Is the date estimated or	Approval
+Security holder approval	12/12/2022	actual?	received/condition met?
Actual

Comments

In accordance with s 254H of the Corporations Act 2002 (Cth), the ASX Listing Rules, the Company's constitution and for all other purposes, shareholders have been asked to pass a resolution at NTU's general meeting to be held on 12 December 2022 to approve the consolidation of NTU's issued share capital. Further information concerning NTU's proposed share consolidation can be found within the Notice of General Meeting released to the ASX on 9 November 2022.

Part 3 - Consolidation or split timetable and details

3.1 +Record date

22/12/2022

3.2 Date of +security holder meeting

12/12/2022

3.2a Effective date of consolidation or split

19/12/2022

3.3 Last day for trading in the pre consolidation or split +securities

20/12/2022

3.4 Trading in the post consolidation or split +securities commences on a deferred settlement basis.

21/12/2022

3.5 Record date

22/12/2022

3.6 First day for entity to update its register and to send holding statements to +security holders reflecting the change in the number of +securities they hold.

23/12/2022

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3.7 Last day for entity to update its register and send holding statements to +security holders reflecting the change in the number of +securities they hold and to notify ASX that this has occurred. (+Issue Date)

3/1/2023

3.8 Trading starts on a normal T+2 basis

4/1/2023

3.9 First settlement of trades conducted on a +deferred settlement basis and on a normal T+2 basis

6/1/2023

Part 4 - Event type and details

4.1 The event is

+Security consolidation

4.1a Consolidation ratio: the +securities will be consolidated on the basis that every

25

(pre-consolidation) +securities will be consolidated into

1

(post-consolidation) +security (/ies).

4.2 Scrip fraction rounding

Fractions rounded down to the nearest whole number or fractions disregarded

Part 5 - +Securities on issue before and after consolidation or split

5.1 +Securities on issue before and after the consolidation or split
ASX +Security Code	ASX +Security Description
NTU	ORDINARY FULLY PAID
Quoted/unquoted	Number on issue pre	Number on issue post	Estimate/Actual
Quoted	consolidation or split	consolidation or split	Estimated
	4,986,141,299	199,445,651
ASX +Security Code	ASX +Security Description
NTUAI	ORDINARY FULLY PAID
Quoted/unquoted	Number on issue pre	Number on issue post	Estimate/Actual
Unquoted	consolidation or split	consolidation or split	Estimated
	4,353,400	174,136
ASX +Security Code	ASX +Security Description
NTUAZ	PERFORMANCE RIGHTS
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