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Appendix 3B - Issue of Second Tranche Placement

RNS Announcement

RNS Number : 3329W

Oilex Ltd

18 August 2015

ASX Announcement

18 August 2015

ASX: OEX

AIM: OEX

Section 708A(5)(e) Notice - Issue of Shares under Second Tranche Placement and Cancellation of Unlisted Options

Oilex has today issued 287,303,319 ordinary shares at an issue price of $0.041 per share under the second tranche of the placement announced on 8 July 2015.

Oilex gives notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) (Act) that:

1. Oilex issued the Shares without disclosure to investors under Part 6D.2 of the Act;

2 as at the date of this notice, Oilex has complied with:

(a) the provisions of Chapter 2M of the Act as they apply to Oilex; and

(b) section 674 of the Act; and

3 as at the date of this notice, there is no information that is 'excluded information' within the meaning of sections 708A(7) and 708A(8) of the Act.

The Company advises that application has also been made for the admission to trading on AIM and it expects the shares to be admitted to trading on AIM on 24 August 2015.

Cancellation of Unlisted Options

Oilex also advises that it has cancelled 600,000 employee options due to cessation of employment.

For and on behalf of Oilex Ltd

Chris Bath

Chief Financial Officer and Company Secretary

For further information, please contact the company or its advisors listed below:

PAC Partners Pty Ltd

Australian Broker

Andrew Shearer

Email: [email protected]

Tel: +61 3 8633 9862

Australia

Westhouse Securities Limited

AIM Broker

Robert Finlay / Alastair Stratton

Email: [email protected]

Tel: +44 20 7601 6100

Strand Hanson Limited

Nominated Adviser

Rory Murphy /Ritchie Balmer

Email:

[email protected]

Tel: +44 20 7409 3494

Vigo Communications

Public Relations UK

Patrick d'Ancona / Chris McMahon

Email:
[email protected]

[email protected]

Tel: +44 20 7016 9570

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement,

application for quotation of additional securities

and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13

Name of entity

OILEX LTD

ABN

50 078 652 632

We (the entity) give ASX the following information.

Part 1 ‑ All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1	+Class of +securities issued or to be issued	Fully Paid Ordinary Shares

2	Number of +securities issued or to be issued (if known) or maximum number which may be issued	287,303,319

3	Principal terms of the +securities (eg, if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)	Fully Paid Ordinary Shares

4	Do the ⁺securities rank equally in all respects from the date of allotment with an existing +class of quoted +securities? If the additional securities do not rank equally, please state: · the date from which they do · the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment · the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment	Yes

5	Issue price or consideration	$0.041 per share

6	Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets)	The net proceeds will be used to fund part of the Cambay and Bhandut Field work programmes for the 2015/16 year, minimum work commitments in the Canning Basin and working capital.

6a	Is the entity an ⁺eligible entity that has obtained security holder approval under rule 7.1A? If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i	No

6b	The date the security holder resolution under rule 7.1A was passed	Not applicable

6c	Number of ⁺securities issued without security holder approval under rule 7.1	Not applicable

6d	Number of ⁺securities issued with security holder approval under rule 7.1A	Not applicable

6e	Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)	Not applicable

6f	Number of ⁺securities issued under an exception in rule 7.2	Not applicable

6g	If ⁺securities issued under rule 7.1A was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the ⁺issue date and both values. Include the source of the VWAP calculation.	Not applicable

6h	If ⁺securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements	Not applicable

6i	Calculate the entity's remaining issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements

7	⁺Issue dates Notes: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12). For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in appendix 7A. Cross reference: item 33 of Appendix 3B.	18 August 2015

8	Number and +class of all +securities quoted on ASX (including the ⁺securities in section 2 if applicable)	Number	⁺Class
		1,180,420,686 188,255,171	Fully Paid Ordinary Shares Listed options exercisable at $0.15 each by 07/09/2015

9	Number and +class of all +securities not quoted on ASX (including the securities in section 2 if applicable)	Number	+Class
		3,000,000 5,000,000 500,000 2,000,000 2,000,000 3,000,000 500,000 1,075,000 1,500,000 2,000,000 5,000,000 500,000 1,075,000 500,000 4,000,000 1,500,000	$0.15 Options due 17/12/2015 $0.25 Options due 08/03/2016 $0.15 Options due 27/06/2016 $0.15 Options due 04/11/2016 $0.15 Options due 11/11/2016 $0.15 Options due 05/12/2016 $0.25 Options due 27/06/2017 $0.25 Options due 05/08/2017 $0.25 Options due 25/08/2017 $0.25 Options due 11/11/2017 $0.10 Options due 22/12/2017 $0.25 Options due 16/02/2018 $0.35 Options due 05/08/2018 $0.35 Options due 16/02/2019 $0.15 Options due 29/04/2019 $0.35 Options due 25/08/2019

10	Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)	Not applicable

Part 2 ‑ Pro rata issue

11	Is security holder approval required?	Not applicable

12	Is the issue renounceable or non-renounceable?

13	Ratio in which the +securities will be offered

14	+Class of +securities to which the offer relates

15	+Record date to determine entitlements

16	Will holdings on different registers (or subregisters) be aggregated for calculating entitlements?

17	Policy for deciding entitlements in relation to fractions

18	Names of countries in which the entity has security holders who will not be sent new issue documents Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7.

19	Closing date for receipt of acceptances or renunciations

20	Names of any underwriters

21	Amount of any underwriting fee or commission

22	Names of any brokers to the issue

23	Fee or commission payable to the broker to the issue


24			Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of security holders

25			If the issue is contingent on security holders' approval, the date of the meeting

26			Date entitlement and acceptance form and offer documents will be sent to persons entitled

27			If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders

28			Date rights trading will begin (if applicable)

29			Date rights trading will end (if applicable)

30			How do security holders sell their entitlements in full through a broker?

31			How do security holders sell part of their entitlements through a broker and accept for the balance?

32			How do security holders dispose of their entitlements (except by sale through a broker)?

33			+Issue date

Part 3 ‑ Quotation of securities

You need only complete this section if you are applying for quotation of securities

34	Type of securities (tick one)
(a)	ü	⁺Securities described in Part 1

(b)	o	All other ⁺securities Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)
Additional securities forming a new class of securities
Tick to indicate you are providing the information or documents

35		If the +securities are +equity securities, the names of the 20 largest holders of the additional +securities, and the number and percentage of additional +securities held by those holders

36		If the +securities are +equity securities, a distribution schedule of the additional +securities setting out the number of holders in the categories 1 - 1,000 1,001 - 5,000 5,001 - 10,000 10,001 - 100,000 100,001 and over

37		A copy of any trust deed for the additional +securities

Entities that have ticked box 34(b)
38	Number of securities for which +quotation is sought		Not applicable

39	+Class of +securities for which quotation is sought

40	Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted +securities? If the additional +securities do not rank equally, please state: · the date from which they do · the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment · the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

41	Reason for request for quotation now Example: In the case of restricted securities, end of restriction period (if issued upon conversion of another ⁺security, clearly identify that other ⁺security)

Number and +class of all +securities quoted on ASX (including the securities in clause 38)

Number

⁺Class

Quotation agreement

1 +Quotation of our additional +securities is in ASX's absolute discretion. ASX may quote the +securities on any conditions it decides.

2 We warrant the following to ASX.

· The issue of the +securities to be quoted complies with the law and is not for an illegal purpose.

· There is no reason why those +securities should not be granted +quotation.

· An offer of the +securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

· Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any +securities to be quoted and that no-one has any right to return any +securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the +securities be quoted.

· If we are a trust, we warrant that no person has the right to return the +securities to be quoted under section 1019B of the Corporations Act at the time that we request that the +securities be quoted.

3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

4 We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before +quotation of the +securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Chris Bath

(Chief Financial Officer / Company Secretary)

Appendix 3B - Annexure 1

Calculation of placement capacity under rule 7.1 and rule 7.1A for ⁺eligible entities

Introduced 01/08/12, Amended 04/03/13

Part 1

Rule 7.1 - Issues exceeding 15% of capital
Step 1: Calculate "A", the base figure from which the placement capacity is calculated
Insert number of fully paid ⁺ordinary securities on issue 12 months before the ⁺issue date or date of agreement to issue	Not applicable
Add the following: • Number of fully paid ⁺ordinary securities issued in that 12 month period under an exception in rule 7.2
· Number of fully paid ⁺ordinary securities issued in that 12 month period with shareholder approval
• Number of partly paid ⁺ordinary securities that became fully paid in that 12 month period
Note: • Include only ordinary securities here - other classes of equity securities cannot be added • Include here (if applicable) the securities the subject of the Appendix 3B to which this form is annexed • It may be useful to set out issues of securities on different dates as separate line items
Subtract the number of fully paid ⁺ordinary securities cancelled during that 12 month period
"A"

Step 2: Calculate 15% of "A"
"B"	0.15 [Note: this value cannot be changed]
Multiply "A" by 0.15
Step 3: Calculate "C", the amount of placement capacity under rule 7.1 that has already been used
Insert number of ⁺equity securities issued or agreed to be issued in that 12 month period not counting those issued: • Under an exception in rule 7.2 • Under rule 7.1A • With security holder approval under rule 7.1 or rule 7.4 Note: • This applies to equity securities, unless specifically excluded - not just ordinary securities • Include here (if applicable ) the securities the subject of the Appendix 3B to which this form is annexed • It may be useful to set out issues of securities on different dates as separate line items
"C"
Step 4: Subtract "C" from ["A" x "B"] to calculate remaining placement capacity under rule 7.1
"A" x 0.15 Note: number must be same as shown in Step 2
Subtract "C" Note: number must be same as shown in Step 3
Total ["A" x 0.15] - "C"	[Note: this is the remaining placement capacity under rule 7.1]

Part 2

Rule 7.1A - Additional placement capacity for eligible entities
Step 1: Calculate "A", the base figure from which the placement capacity is calculated
"A" Note: number must be same as shown in Step 1 of Part 1	Not applicable
Step 2: Calculate 10% of "A"
"D"	0.10 Note: this value cannot be changed
Multiply "A" by 0.10
Step 3: Calculate "E", the amount of placement capacity under rule 7.1A that has already been used
Insert number of equity securities issued or agreed to be issued in that 12 month period under rule 7.1A Notes: • This applies to equity securities - not just ordinary securities • Include here - if applicable - the securities the subject of the Appendix 3B to which this form is annexed • Do not include equity securities issued under rule 7.1 (they must be dealt with in Part 1), or for which specific security holder approval has been obtained • It may be useful to set out issues of securities on different dates as separate line items
"E"
Step 4: Subtract "E" from ["A" x "D"] to calculate remaining placement capacity under rule 7.1A
"A" x 0.10 Note: number must be same as shown in Step 2
Subtract "E" Note: number must be same as shown in Step 3
Total ["A" x 0.10] - "E"	Note: this is the remaining placement capacity under rule 7.1A

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END

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RNS metadata

Title: Appendix 3B - Issue of Second Tranche Placement
Time: 09:54:25
Date: 18 Aug 2015
Category: Miscellaneous
ID: 3329W