Proposed issue of securities
Announcement Summary
Entity name
XSTATE RESOURCES LIMITED
Announcement Type
New announcement
Date of this announcement
Monday March 22, 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 |
XST | ORDINARY FULLY PAID | 10,135,135 |
Proposed +issue date
Wednesday May 19, 2021
Refer to next page for full details of the announcement
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Proposed issue of securities
Part 1 - Entity and announcement details
1.1 Name of +Entity
XSTATE RESOURCES 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.
1.2 | Registered Number Type | Registration Number |
ABN | 96009217154 | |
1.3 | ASX issuer code | |
XST |
- The announcement is New announcement
- Date of this announcement
Monday March 22, 2021
1.6 The Proposed issue is:
A placement or other type of issue
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Proposed issue of securities
Part 7 - Details of proposed placement or other issue
Part 7A - Conditions
7A.1 - Are any of the following approvals required for the placement or other type of issue?
+Security holder approval
Court approval
Lodgement of court order with +ASIC
ACCC approval
FIRB approval
Another approval/condition external to the entity
Yes
7A.1a Conditions
Approval/Condition | Date for determination | Is the date estimated or |
+Security holder approval | Wednesday May 19, 2021 | actual? |
Estimated | ||
- Approval received/condition met?
No
Comments
Shares to be issued for acquisition are subject to shareholder approval. Estimated date provided relates to upcoming AGM to be held in May.
Part 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
Will the proposed issue of this +security include an offer of attaching +securities?
No
Details of +securities proposed to be issued
ASX +security code and description
XST : ORDINARY FULLY PAID
Number of +securities proposed to be issued
10,135,135
Offer price details
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Proposed issue of securities
Are the +securities proposed to be issued being issued for a cash consideration?
No
Please describe the consideration being provided for the +securities
Shares issued as consideration for acquisition of further 10% interest in Red Earth assets in Alberta, Canada.
Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities
0.014800
Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class?
Yes
Part 7C - Timetable
7C.1 Proposed +issue date
Wednesday May 19, 2021
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? Yes
7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1
Wednesday May 19, 2021
7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? No
7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No
7D.4 Will any of the +securities to be issued be subject to +voluntary escrow?
No
Part 7E - Fees and expenses
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Proposed issue of securities
7E.1 Will there be a lead manager or broker to the proposed issue? No
7E.2 Is the proposed issue to be underwritten? No
7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue
Nil
Part 7F - Further Information
7F.01 The purpose(s) for which the entity is issuing the securities
Shares issued as consideration for acquisition of further 10% interest in Red Earth assets in Alberta, Canada.
7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No
7F.2 Any other information the entity wishes to provide about the proposed issue
No
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Disclaimer
Xstate Resources Limited published this content on 21 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 April 2021 17:43:01 UTC.