ActivEX : Disclosure Document

For personal use only

ActivEX Limited

ACN 113 452 896

Prospectus

THIS PROSPECTUS IS BEING ISSUED UNDER SECTION 713 OF THE CORPORATIONS ACT FOR AN OFFER OF UP TO 15,784,950 NEW OPTIONS TO THE PLACEMENT PARTICIPANTS AND THE JOINT LEAD MANAGERS

THIS OFFER CLOSES AT 5.00PM AEDT ON WEDNESDAY, 19 JANUARY 2022

VALID APPLICATIONS MUST BE RECEIVED BEFORE THAT TIME

Please read the instructions in this Prospectus and on the accompanying Application Form

prior to applying for New Options under the Offer

THIS IS AN IMPORTANT DOCUMENT AND REQUIRES YOUR IMMEDIATE ATTENTION. IT

SHOULD BE READ IN ITS ENTIRETY

THE NEW OPTIONS OFFERED BY THIS PROSPECTUS ARE OF A SPECULATIVE NATURE. IF YOU ARE IN DOUBT ABOUT WHAT TO DO, YOU SHOULD CONSULT YOUR PROFESSIONAL ADVISER WITHOUT DELAY

For personal use only

CORPORATE DIRECTORY

Directors

Min Yang (Chairman and Non-Executive Director) Mark Derriman (Executive Director)

Geoff Baker (Non-Executive Director) Dongmei Ye (Non-Executive Director)

Louis Chien (Alternate Director to Min Yang)

Company Secretary

William Kuan

Registered and Corporate Office

Suite 2, 3B Macquarie Street

Sydney NSW 2000

Share Registry

Boardroom Pty Limited

Level 12, 255 George Street

Sydney NSW 2000

Stock Exchange Listing

ASX Code: AIV

For personal use only

		Table of contents
1	Details of the Offer ...................................................................................................	1
	1.1	Background to the Offer..................................................................................................	1
	1.2	The Offer.........................................................................................................................	1
	1.3	Timetable ........................................................................................................................	1
	1.4	Application for Options....................................................................................................	2
	1.5	Application monies..........................................................................................................	3
	1.6	Issue of Options ..............................................................................................................	3
	1.7	ASX quotation .................................................................................................................	3
	1.8	CHESS............................................................................................................................	3
	1.9	Residents outside Australia ............................................................................................	3
	1.10	Risk factors .....................................................................................................................	4
	1.11	Taxation implications ......................................................................................................	4
	1.12	Major activities and financial information ........................................................................	4
	1.13	Enquiries concerning Prospectus ...................................................................................	4
	1.14	Privacy ............................................................................................................................	4
	1.15	Electronic Prospectus .....................................................................................................	4
2	Risk factors...............................................................................................................	5
	2.1	Specific risks associated with the Company...................................................................	5
	2.2	General risks................................................................................................................	11
	2.3	Investment speculative ................................................................................................	12
3	Effect of the Offer ...................................................................................................	12
	3.1	Capital structure on completion of the Offer ................................................................	12
	3.2	Financial effect of the Offer .........................................................................................	13
	3.3	Effect of control on the Company ................................................................................	13
	3.4	Pro forma statement of financial position ....................................................................	13
	3.5	Market price of Shares.................................................................................................	14
	3.6	Dividend policy.............................................................................................................	14
4	Additional information ...........................................................................................	14
	4.1	Rights attaching to Options .........................................................................................	14
	4.2	Rights attaching to Shares...........................................................................................	15
	4.3	Company is a disclosing entity ....................................................................................	17
	4.4	Copies of documents ...................................................................................................	17
	4.5	Information excluded from continuous disclosure notices ...........................................	18
	4.6	Determination by ASIC ................................................................................................	18
	4.7	Directors' interests .......................................................................................................	18
	4.8	Substantial holders ......................................................................................................	19
	4.9	Interests of named persons .........................................................................................	20
	4.10	Expenses of the Offer ..................................................................................................	20
	4.11	Litigation ......................................................................................................................	20
5	Authorisation ..........................................................................................................	21
6	Glossary..................................................................................................................	21

For personal use only

IMPORTANT INFORMATION

This Prospectus is dated Thursday, 13 January 2022. A copy of the Prospectus was lodged with ASIC on that date. ASIC and ASX take no responsibility for the contents of this Prospectus. No Options will be issued on the basis of this Prospectus any later than 13 months after the date of this Prospectus (being the expiry date of this Prospectus).

A copy of this Prospectus is available for inspection at the registered office of the Company at Suite 2, 3B Macquarie Street, Sydney NSW 2000, Australia during normal business hours. The Company will also provide copies of other documents on request (see Section 4.4).

The Company will apply to ASX within seven (7) days of the date of this Prospectus for Official Quotation by ASX of the Options offered by this Prospectus; however, the Company does not guarantee that the Options will be admitted for Official Quotation by ASX or that the Options will be able to be traded on the Official List of ASX.

Applications for Options will only be accepted on an Application Form which is attached to, or provided by the Company with, a copy of this Prospectus. The Corporations Act prohibits any person from passing on to another person an Application Form unless it is accompanied by a complete and unaltered copy of this Prospectus.

The Company is a disclosing entity listed on the Official List of ASX and this Prospectus is a transaction specific prospectus issued under section 713 of the Corporations Act in reliance on information previously disclosed to ASX by the Company. It does not contain, by itself, all information that would be contained in a prospectus for an initial public offering or all information relevant to a decision to invest in the Company.

No person is authorised to give any information or to make any representation in connection with the Offer which is not contained in this Prospectus. Any information or representation not so contained may not be relied on as having been authorised by the Company in connection with the Offer.

No action has been taken to permit the Offer of Options under this Prospectus in any jurisdiction other than Australia. The distribution of this Prospectus in jurisdictions outside Australia may be restricted by law and therefore persons into whose possession this document comes should seek advice on and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of those laws. This Prospectus does not constitute an offer of Options in any jurisdiction where, or to any person to whom, it would be unlawful to issue this Prospectus.

This document is important and should be read in its entirety before deciding to participate in the Offer. This does not take into account the investment objectives, financial or taxation or particular needs of any Applicant. Before making any investment in the Company, each Applicant should consider whether such an investment is appropriate to their particular needs, and considering their individual risk profile for speculative investments, investment objectives and individual financial circumstances. Each Applicant should consult their stockbroker, solicitor, accountant or other professional adviser without delay. The Options offered by this Prospectus should be considered speculative. Please refer to Section 2 for details relating to investment risks.

By returning an Application Form, you acknowledge that you have received and read this Prospectus and you have acted in accordance with the terms of the Offer detailed in this Prospectus.

Definitions of certain terms used in this Prospectus are contained in Section 6. All references to currency are to Australian dollars and all references to time are to AEDT, unless otherwise indicated.

For personal use only

Page 1

1 Details of the Offer

1.1 Background to the Offer

As announced on 18 November 2021 and 23 November 2021, the Company completed a placement of a total of 26,569,901 Shares (Placement Shares), each at an issue price of $0.08, to raise $2.125 million (before costs) (Placement).

In connection with the Placement, the Company proposes to issue:

1. to the joint lead managers for the Placement, Cadmon Advisory and Panthea Capital, (Joint Lead Managers) up to 2,500,000 Options; and
2. to those persons who participated in the Placement (Placement Participants) up to 13,284,950 Options, being one (1) free-attaching Option for every two (2) Placement Shares subscribed for by that Placement Participant,

being a total of 15,784,950 Options (New Options) (Offer).

1. The Offer
   Under this Prospectus, the Company is offering the Joint Lead Managers and the Placement Participants the opportunity to apply for the New Options. Each New Option has a nil issue price and an exercise price of $0.12 per Option. Section 4.1 contains a summary of the rights attaching to the Options. Each Option entitles the holder to be issued one Share on exercise of that Option. Section 4.2 contains a summary of the rights attaching to the underlying Shares.
   Subject to the quotation requirements of the ASX Listing Rules, if the Options are listed on the Official List of ASX, the Options issued under this Prospectus will form a new class of listed securities of the Company. The Company does not guarantee that the Options will be admitted for Official Quotation by ASX or that the Options will be able to be traded on the Official List of ASX.
   There is no minimum amount sought to be raised by the Offer. There is no provision for oversubscriptions.
   The Offer is not underwritten.
   The New Options are being issued to either "sophisticated investors" or "professional investors" within the meaning of sections 708(8), 708(10) and 708(11) of the Corporations Act. The Company is precluded from issuing a cleansing notice in respect of the New Options as they are not in a class of securities that were quoted securities at all times in the last three months. Consequently, the Company must issue the New Options under this Prospectus. This Prospectus has also been issued to facilitate secondary trading of the New Options and any Shares issued upon exercise of the New Options.
   The Company is not issuing the New Options with the purpose of the persons to whom they are being issued selling or transferring their New Options, or granting, issuing or transferring interests in those New Options within 12 months of the issue; however, this Prospectus provides them with the ability to do so should they wish.
   Accordingly, the purpose of this Prospectus is to:
2. 1. make the Offer; and
   2. facilitate secondary trading of the New Options and Shares issued upon exercise of the New Options.
3. Timetable
   The proposed timetable for the Offer is set out below: