Proposed issue of securities
Announcement Summary
Entity name
LEFROY EXPLORATION LIMITED
Announcement Type
New announcement
Date of this announcement 10/11/2021
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 |
LEX | 50C US ORDINARY FULLY PAID | 18,000,000 |
Proposed +issue date
16/11/2021
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
LEFROY EXPLORATION 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 |
ARBN | 052123930 | |
1.3 | ASX issuer code | |
LEX |
- The announcement is New announcement
- Date of this announcement
10/11/2021
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 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
7A.1a Conditions
Approval/Condition | Date for determination | Is the date estimated or |
+Security holder approval | 2/12/2021 | actual? |
Estimated | ||
Comments |
- Approval received/condition met?
No
Issue of 857,144 placement shares to be issued to Directors is subject to shareholder approval.
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
Details of +securities proposed to be issued
Will the proposed issue of this +security include an offer of attaching +securities?
No
ASX +security code and description
LEX : 50C US ORDINARY FULLY PAID
Number of +securities proposed to be issued
18,000,000
Offer price details
Are the +securities proposed to be issued being issued for a cash consideration?
Yes
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Proposed issue of securities
In what currency is the cash consideration being paid?
AUD - Australian Dollar
What is the issue price per +security?
AUD 0.35000
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
16/11/2021
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? No
7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?
Yes
7D.1b ( i ) How many +securities are proposed to be issued without security holder approval using the entity's 15% placement capacity under listing rule 7.1?
17,142,856 fully paid ordinary shares.
7D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)?
No
7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? Yes
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
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Proposed issue of securities
Part 7E - Fees and expenses
7E.1 Will there be a lead manager or broker to the proposed issue? Yes
7E.1a Who is the lead manager/broker?
Bridge Street Capital Partners and Arlington Group Asset Management were Joint Lead Managers and Bookrunners for the Placement.
7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?
A 2% management fee on the gross proceeds and a 3% placement fee on the gross proceeds (excluding funds raised from Directors or their nominees).
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
N/A - see fees above at 7E.1b.
Part 7F - Further Information
7F.01 The purpose(s) for which the entity is issuing the securities
The proceeds of the Placement will be used to accelerate exploration at the Company's 100% owned Eastern Lefroy Gold Project and for general working capital purposes.
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
Refer ASX announcement of 10 November 2021.
7F.3 Any on-sale of the +securities proposed to be issued within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of:
The publication of a cleansing notice under section 708A(5), 708AA(2)(f), 1012DA(5) or 1012DAA(2)(f)
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Disclaimer
Lefroy Exploration Ltd. published this content on 12 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 November 2021 01:46:00 UTC.