Notice under Section 708AA of Corp Act
Released
Released
Announcement PDF
12 September 2024
Companies Announcements Office
ASX Limited
Notice under Section 708AA of the Corporations Act 2001 (Cth)
Energy Technologies Limited ACN 002 679 469 (EGY or Company) (ASX code: EGY) today
announced a non-renounceable Offer to Eligible Shareholders on the basis of one (1) fully paid ordinary
share (New Share) for every one (1) fully paid ordinary share held, at an issue price of $0.03 (3 cents)
per New Share to raise a maximum of approximately $12.7 million (before costs) by the issue of
approximately 422,074,788 New Shares (Offer).
Eligible Shareholders are those shareholders who are, as at the Record Date (being 7.00pm
(Melbourne time) on 17 September 2024), registered with a registered address situated in Australia,
New Zealand and certain shareholders in the United Kingdom (Eligible Shareholders).
Shaw and Partners have been appointed as lead manager of the Offer. The Offer is not underwritten.
Notice
In accordance with section 708AA(2)(f) of the Corporations Act 2001 (Cth) (the Act), the Company
gives notice that:
(a)
The New Shares will be offered for issue without disclosure to investors under Part 6D.2 of the
Act;
(b)
This notice is given by the Company under section 708AA(2)(f) of the Act;
(c)
As at the date of this notice, the Company has complied with:
(d)
(e)
(i)
the provisions of Chapter 2M of the Act as they apply to the Company; and
(ii)
section 674 and 674A of the Act;
As at the date of this notice, there is no information:
(i)
that has been excluded from a continuous disclosure notice in accordance with the
Listing Rules of ASX; and
(ii)
that investors and their professional advisers would reasonably require, and would
reasonably expect to find in a disclosure document, for the purpose of making an
informed assessment of:
(A)
the assets and liabilities, financial position and performance, profits and losses
and prospects of the Company; and
(B)
the rights and liabilities attaching to the New Shares.
The effect of the Offer on the control of the Company will vary with the level of New Shares
issued to Eligible Shareholders under the Offer. However, the Company will not issue any New
Shares such that an allocation would result in the Eligible Shareholder or any person acquiring
Notice under section 708AA of the Corporations Act 2001 (Cth)
a relevant interest in the Shares which increases their voting power in the Company from 20%
or below to more than 20%; or a starting point that is above 20% and below 90%.
Effect of Offer
Assuming that all the shares offered under the Offer are subscribed, the effect of the Offer on the total
issued shares in the Company would be as follows:
Issued Shares
Shares
Total issued share capital of the Company as at the date of this notice
422,074,788
Number of Shares offered under the Offer (assuming maximum number of Shares
are issued under the Offer)
422,074,788
Total issued share capital of the Company at completion of the Offer
844,149,576
Investors should note the following:
If particular Eligible Shareholders do not take up all of their entitlements under the offer, the
Share interests of those Shareholders will be diluted;
The proportional interests of Shareholders with registered addresses outside Australia, New
Zealand and certain shareholders in the United Kingdom will be diluted because those
Shareholders are not entitled to participate in the Offer; and
Should all Eligible Shareholders subscribe for their full entitlement under the Offer, there will not
be any material impact on the control of the Company following the issue of Shares under the
Offer.
Further details about the Offer were announced to ASX on or around the date of this notice.
Yours sincerely
Matthew Driscoll
Chairman and Non-Executive Director
Notice under section 708AA of the Corporations Act 2001 (Cth)
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