Proposed issue of securities
Announcement Summary
For personal use only
Entity name
CRESO PHARMA LIMITED
Announcement Type
New announcement
Date of this announcement
24/2/2022
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
Maximum Number of | ||
ASX +security code | +Security description | +securities to be issued |
New class-code to be | Listed Options (subject to meeting certain listing | 67,851,448 |
confirmed | requirements) | |
New class-code to be | Listed Options (subject to meeting certain listing | 4,612,320 |
confirmed | requirements) | |
New class-code to be | Listed Options (subject to meeting certain listing | 72,463,768 |
confirmed | requirements) | |
CPH | ORDINARY FULLY PAID | 72,463,768 |
Proposed +issue date 2/3/2022
Refer to next page for full details of the announcement
Proposed issue of securities | 1 / 11 |
Proposed issue of securities
Part 1 - Entity and announcement details
For personal use only
1.1 Name of +Entity
CRESO PHARMA 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 | Registration Number |
ABN | 89609406911 | |
1.3 | ASX issuer code | |
CPH |
- The announcement is New announcement
- Date of this announcement
24/2/2022
1.6 The Proposed issue is:
A placement or other type of issue
Proposed issue of securities | 2 / 11 |
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 | 29/4/2022 | actual? | received/condition met? | |
Estimated | ||||
No | ||||
Comments | ||||
Refer to the Company's ASX release dated 24 February 2022 for background information on the Company's current | ||||
Placement ("Placement"). |
Subject to shareholder approval, the Company intends to issue:
- 4,612,320 shares and 4,612,320 options to Non-Executive Director, Adam Blumenthal for his participation into the Placement; and
- one new option for every one Option issued under the Placement to EverBlu Capital Pty Ltd ('EverBlu') as part remuneration for their appointment as lead manager to the Placement.
personal | ||||
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 | Yes | |||
For | 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
CPH : ORDINARY FULLY PAID
Number of +securities proposed to be issued 67,851,448
Proposed issue of securities | 3 / 11 |
Proposed issue of securities
Please describe the consideration being provided for the +securities
Issue of one free attaching option for every one new shares issued to participants under the current Placement announced on 24 February 2022 ("Placement Options"). Creso Pharma will seek quotation for the new options, subject to meeting certain listing requirements.
Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities
only
Will all the +securities issued in this class rank equally in all respects from their issue date? Yes
Options details
For personal use
+Security currency AUD - Australian Dollar
Exercise price | Expiry date |
AUD 0.1400 | 6/10/2023 |
Details of the type of +security that will be issued if the option is exercised
CPH : ORDINARY FULLY PAID
Number of securities that will be issued if the option is exercised
67,851,448 CPH Ordinary Shares.
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.
Please note these options are proposed to be issued on or around 4 April 2022, when the Company anticipates it will issue a prospectus for the offer of these options. The material terms of these Options will be included in the prospectus under which these Options will be issued under.
Please further note the issue date and expiry date provided above is indicative only, and will be calculated 18 months from the date of issue. Creso Pharma will seek quotation for the new options, subject to meeting certain listing requirements.
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 | Yes |
securities in a class that is already | |
quoted or recorded by ASX)? | |
Existing class |
Proposed issue of securities | 5 / 11 |
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Creso Pharma Ltd. published this content on 24 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 February 2022 00:20:42 UTC.