Announcement Summary
Entity name
TORQUE METALS LIMITED..
Announcement Type
New announcement
Date of this announcement 27/4/2022
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
Proposed +issue date 5/5/2022
Refer to next page for full details of the announcementPart 1 - Entity and announcement details
1.1 Name of +Entity
TORQUE METALS LIMITED..
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 ACN
Registration Number 621122905
1.3 ASX issuer code TOR
1.4 The announcement isNew announcement
1.5 Date of this announcement 27/4/2022
1.6 The Proposed issue is:
A placement or other type of issuePart 7 - Details of proposed placement or other issuePart 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
7A.1a Conditions
Approval/Condition +Security holder approval
Date for determination 15/6/2022
Is the date estimated or actual?
Estimated
** Approval received/condition met?
No
Comments
Unlisted Options For the Lead Manager and applicants. Lead Manager 3,750,000 unlisted Options
Attaching to Ordinary Shares 7,475,000 unlisted OptionsPart 7B - Issue details
Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)?
Existing class
Details of +securities proposed to be issued
ASX +security code and description
TOR : ORDINARY FULLY PAID
Will the proposed issue of this +security include an offer of attaching +securities?
Yes
Number of +securities proposed to be issued
14,950,000
Offer price details
Are the +securities proposed to be issued being issued for a cash consideration?
Yes
In what currency is the cash Proposed issue of securities
What is the issue price per 3 / 7
In what currency is the cash consideration being paid?
AUD - Australian Dollar
What is the issue price per +security?
AUD 0.20000
Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class?
Yes
Attaching +Security
Is the proposed attaching security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional +securities in a class that is already quoted or recorded by ASX)?
New class
Attaching +Security - New class (+securities in a class that is not yet quoted or recorded by ASX)
Details of attaching +securities proposed to be issuedISIN Code (if Issuer is a foreign company and +securities are non CDIs)Have you received confirmation from ASX that the terms Will the entity be seeking quotation of the 'new' class ofof the proposed +securities are appropriate and equitable under listing rule 6.1?
No
ASX +security code
New class-code to be confirmed
+Security type Options
Number of +securities proposed to be issued 11,225,000
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 7475000 unlisted 30 cent options issued on a 1 : 2 for every 2 TOR ordinary shares issue 3750000 unlisted 30 cent options issued to brokers
+securities on ASX?
No
+Security description 30 cent unlisted options exercisable within 18 months of the issue.
Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 3,367,500.000000
Will all the +securities issued in this class rank equally in all respects from their issue date?
Yes
Options details
+Security currency
AUD - Australian Dollar
Exercise price AUD 0.3000
Expiry date 14/12/2023
Details of the type of +security that will be issued if the option is exercised
TOR : ORDINARY FULLY PAID
Number of securities that will be issued if the option is exercised 11,225,000
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.
ASX announcement dated 27 April 2022 - yet to be released by ASX
Part 7C - Timetable
7C.1 Proposed +issue date
5/5/2022
Part 7D - Listing Rule requirements
7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1?
No
7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?
Yes
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Torque Metals Ltd. published this content on 27 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2022 04:34:05 UTC.