Challenger Energy : Notification of Consolidation/Split

Notification of Consolidation/Split

Notification of Consolidation/Split

Announcement Summary

Entity name

CHALLENGER ENERGY LIMITED

Applicable security for the reorganisation

only	CEL		ORDINARY FULLY PAID
	CELAB		OPTION EXPIRING 30-JUNE-2020 EX 5C
	CELAI		PERFORMANCE RIGHT
	Announcement Type
use
	New Announcement
	Date of this announcement
	Monday April 1, 2019
	Reorganisation type
	Security consolidation
personal	Effective Date
	Wednesday May 1, 2019
	Record Date
	Thursday May 2, 2019
	Issue Date
	Thursday May 9, 2019
	Additional Information
	Consolidation of Capital - Ordinary Resolution
	"That, subject to and conditional upon the passing of all Essential Resolutions, pursuant to section 254H of the
	Corporations Act and for all other purposes, the issued capital of the Company be consolidated on the basis that:
	(a)	the existing 389,466,818 Shares are consolidated into 77,893,364 Shares;
	(b)	the existing 34,750,000 Options are consolidated on a corresponding ratio; and
For	(c)	the existing 4,000,000 Performance Rights are consolidated on a corresponding ratio,
	and, where this Consolidation results in a fraction of a Share, an Option, or a Performance Right being held, the
	Company be authorised to round that fraction up to the nearest whole Share, Option or Performance Right, as
	applicable.¿

Refer to below for full details of the announcement

Announcement Details

Part 1 - Entity and announcement details

1.1 *Name of +Entity

CHALLENGER ENERGY LIMITED

Notification of Consolidation/Split

1 / 5

Notification of Consolidation/Split

		1.2 *Registered Number Type			Registration Number
					45123591382
		ABN
only		1.3 *ASX issuer code
		CEL
		1.4 *The announcement is
		New announcement
		1.5 *Date of this announcement
		Monday April 1, 2019
		1.6 *Securities affected by the reorganisation
use
			CEL		ORDINARY FULLY PAID
			CELAB		OPTION EXPIRING 30-JUNE-2020 EX 5C
			CELAI		PERFORMANCE RIGHT
	Part 2 - Approvals
personal		2.1 *Are any of the below approvals required for the reorganisation 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 reorganisation.
		Yes
		2.2 Approvals
			Approval/Condition	Date for determination	Is the date estimated	**Approval
			+Security holder	Monday April 29,	or actual?	received/condition
For			approval	2019	Actual	met?
						[Select...]
			Comments

Part 3 - Reorganisation timetable and details

3.1*+Record date

Thursday May 2, 2019

3.2Date of +security holder meeting

Monday April 29, 2019

Notification of Consolidation/Split

2 / 5

Notification of Consolidation/Split

3.3Last day for trading in the pre-re-organised +securities

Tuesday April 30, 2019

3.4*Effective date. Trading in the re-organised securities commences on a +deferred settlement basis. If the +entity's securities are suspended from trading during this period there will be no +deferred settlement trading however ASX still captures this date.

Wednesday May 1, 2019

3.5Record date

Thursday May 2, 2019

onlyFriday May 3, 2019

3.6 First day for +entity to send notices to +security holders of the change in the number of +securities they hold. First day for +entity to register +securities on a post-reorganised basis

3.7 *+Issue date. +Deferred settlement market ends. Last day for +entity to send notices to +security holder of the change in the number of +securities they hold. Last day for +entity to

useregister +securities on a post-reorganised basis Thursday May 9, 2019

3.8 Trading starts on a normal T+2 basis

Friday May 10, 2019

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

Tuesday May 14, 2019

Part 4 - Reorganisation type and details

4.1*The reorganisation is

+Security consolidation

personal		4.1a *Consolidation ratio: the +securities will be consolidated on the basis that every
		5
		(pre-consolidation) +securities will be consolidated into
		1
		(post-consolidation) +security (/ies).
		4.2 *Scrip fraction rounding
		Fractions rounded up to the next whole number
	Part 5 - +Securities on issue before and after reorganisation
For		5.1 *+Securities on issue before and after the reorganisation
		*ASX +Security Code	*ASX +Security
		CEL	Description
			ORDINARY FULLY
			PAID
		Quoted/unquoted	Number on issue	Number on issue after	Estimate/Actual
		Quoted	before reorganisation	reorganisation	Actual
			389,466,818	77,893,364
	Notification of Consolidation/Split				3 / 5

Notification of Consolidation/Split

		*ASX +Security Code	*ASX +Security
		CELAB	Description
			OPTION EXPIRING
			30-JUNE-2020 EX 5C
only		Quoted/unquoted	Number on issue		Number on issue after		Estimate/Actual
		Unquoted	before reorganisation		reorganisation		Actual
			34,750,000		6,950,000
		*ASX +Security Code	*ASX +Security
		CELAI	Description
			PERFORMANCE
			RIGHT
use		Quoted/unquoted	Number on issue		Number on issue after		Estimate/Actual
		Unquoted	before reorganisation		reorganisation		Estimated
			18,500,000		800,000
				30-JUNE-2020 EX 5C
		5.2 *Exercise price of options
		*ASX +Security Code		*ASX +Security Description
		CELAB		OPTION EXPIRING
		Quoted/unquoted		Exercise price before		Exercise price after
		Unquoted		reorganisation		reorganisation
				0.05000000		0.25000000
		*ASX +Security Code		*ASX +Security Description
		CELAI		PERFORMANCE RIGHT
		Quoted/unquoted		Exercise price before		Exercise price after
		Unquoted		reorganisation		reorganisation
				0.00000000		0.00000000

Part 6 - Further information

personal	6.1 Further information relating to the reorganisation
	Resolution 2 - Consolidation of Capital is an 'Essential Resolution' and each Essential Resolution is conditional on
For	each other Essential Resolution
	being approved.
	Resolutions 1 to 11 and Resolution 14 are Essential Resolutions.

Notification of Consolidation/Split

4 / 5

Notification of Consolidation/Split

6.2 Additional information for inclusion in the Announcement Summary

For personal use only

Consolidation of Capital - Ordinary Resolution

"That, subject to and conditional upon the passing of all Essential Resolutions, pursuant to section 254H of the Corporations Act and for all other purposes, the issued capital of the Company be consolidated on the basis that:

(a)the existing 389,466,818 Shares are consolidated into 77,893,364 Shares;

(b)the existing 34,750,000 Options are consolidated on a corresponding ratio; and

(c)the existing 4,000,000 Performance Rights are consolidated on a corresponding ratio,

and, where this Consolidation results in a fraction of a Share, an Option, or a Performance Right being held, the Company be authorised to round that fraction up to the nearest whole Share, Option or Performance Right, as applicable.¿

Notification of Consolidation/Split

5 / 5