Proposed issue of securities
Announcement Summary | ||
Entity name | ||
ORION MINERALS LTD | ||
Announcement Type | ||
New announcement | ||
Date of this announcement | ||
22/11/2022 | ||
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 |
ORN | ORDINARY FULLY PAID | 6,562,500 |
Proposed +issue date
2/12/2022
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
ORION MINERALS LTD
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 |
ACN | 098939274 | |
1.3 | ASX issuer code | |
ORN |
- The announcement is New announcement
- Date of this announcement
22/11/2022
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 | ** Approval |
+Security holder approval | 24/11/2022 | actual? | received/condition met? |
Actual | |||
Comments
Shareholder approval for purposes of Listing Rule 10.11 for the issue of shares, will be sought at a shareholder meeting.
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
ORN : ORDINARY FULLY PAID
Number of +securities proposed to be issued
6,562,500
Offer price details
Are the +securities proposed to be issued being issued for a cash consideration?
No
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Proposed issue of securities
Please describe the consideration being provided for the +securities
Consideration as payment of Directors Fees in lieu of cash settlement as detailed in the Notice of Meeting for the Annual General Meeting to be held on 24 November 2022.
Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities
131,250.000000
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
2/12/2022
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?
No
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
Part 7E - Fees and expenses
7E.1 Will there be a lead manager or broker to the proposed issue? No
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Proposed issue of securities
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
Part 7F - Further Information
7F.01 The purpose(s) for which the entity is issuing the securities
Each of the Company's Non-Executive Directors, agreed, subject to Shareholder approval, to receive their Director fees in Shares in lieu of cash as set out in the AGM Notice of Meeting.
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
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
Orion Minerals Ltd. published this content on 22 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 November 2022 22:35:28 UTC.