Proposed issue of securitiesAnnouncement Summary
Entity name
For personal use only
GALILEE ENERGY LIMITED
Announcement Type
New announcement
Date of this announcement 26/4/2022
The Proposed issue is:
A non pro rata offer of securities under a disclosure document or product disclosure statement (PDS)
Total number of +securities proposed to be issued for a non pro rata offer of securities under a disclosure document or product disclosure statement (PDS)
Maximum Number of
ASX +security code | +Security description | +securities to be issued |
GLLAP | OPTION EXPIRING 04-SEP-2023 EX $0.48 | 4859375 |
Closing date for receipt of acceptances 27/5/2022
Proposed +issue date 2/6/2022
Refer to next page for full details of the announcementProposed issue of securities
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Proposed issue of securities
Part 1 - Entity and announcement details
1.1 Name of +Entity
GALILEE ENERGY LIMITED
For personal use only
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 ABN
Registration Number 11064957419
1.3 ASX issuer code GLL
1.4 The announcement isNew announcement
1.5 Date of this announcement 26/4/2022
1.6 The Proposed issue is:
A non-+pro rata offer of +securities under a +disclosure document or +PDS
Proposed issue of securities
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Proposed issue of securities
Part 5 - Details of proposed non-pro rata offer under a disclosure document or PDS
For personal use only
Part 5A - Conditions
5A.1 Do any external approvals need to be obtained or other conditions satisfied before the non-pro rata offer of +securities under a +disclosure document or + PDS can proceed on an unconditional basis?
No
Part 5B - Offer 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)?
Will the proposed issue of this +security include an offer of attaching +securities?
No
Existing class
Details of +securities proposed to be issued
ASX +security code and description
GLLAP : OPTION EXPIRING 04-SEP-2023 EX $0.48
The number of +securities to be offered under the +disclosure document or +PDS
4,859,375
Will the offer be conditional on applications for a minimum number of +securities being received or a minimum amount being raised (i.e. a minimum subscription condition)?
No
Will individual security holders be required to accept the offer for a minimum number or value of +securities (i.e. a minimum acceptance condition)?
No
Will individual security holders be limited to accepting the offer for a maximum number or value of +securities (i.e. a maximum acceptance condition)?
Yes
Is the maximum acceptance unit based or dollar based?
Unit based
Proposed issue of securities
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Proposed issue of securities
Please enter the maximum acceptance value
93,750
Offer price details
Has the offer price been determined?
For personal use only
No
How and when will the offer price be determined?
There is no consideration payable for the Options. Entitlement to apply arises from participation in the SPP See Announcement 14 April 2022
Will the offer price be determined by way of a bookbuild?
No
Oversubscription & Scale back details
Will the entity be entitled to accept over-subscriptions?
No
Will a scale back be applied if the offer is over-subscribed?
No
Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class?
Yes
Part 5C - Timetable
5C.1 Lodgement date of +disclosure document or +PDS with ASIC 26/4/2022
5C.2 Date when +disclosure document or +PDS and acceptance forms will be made available to investors
27/4/2022
5C.3 Offer open date 27/4/2022
5C.4 Closing date for receipt of acceptances 27/5/2022
5C.6 Proposed +issue date 2/6/2022
Proposed issue of securities
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Proposed issue of securities
Part 5D - Listing Rule requirements
5D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1?
Yes
For personal use only
5D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1 13/4/2022
5D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue?
No
Part 5E - Fees and expenses
5E.1 Will there be a lead manager or broker to the proposed offer?
No
5E.2 Is the proposed offer to be underwritten?
No
5E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission?
No
5E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer
Part 5F - Further Information
5F.01 The purpose(s) for which the entity intends to use the cash raised by the proposed issue
No cash will be raised by the proposed issue. The issue are the attaching options to the issued SPP shares announced 24 Feb 2022
5F.1 Will the entity be changing its dividend/distribution policy if the proposed offer is successful?
No
5F.2 Please explain the entity's allocation policy for the offer, including whether or not acceptances from existing +security holders will be given priority
Shareholders who participated in the SPP will be invited to apply for an equal number of Options to the number of Shares issued to them under the SPP
Proposed issue of securities
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Galilee Energy Limited published this content on 26 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 April 2022 02:59:09 UTC.