ASX Announcement
1 February 2018
ASX: OEX
AIM: OEX
Notice of Initial Substantial Holder (603)
Oilex Ltd (the Company) is pleased to advise that Republic Investment Management Pte Ltd has notified the Company that it has an initial relevant interest in 131,578,948 fully paid ordinary shares, representing 7.04% of the ordinary shares on issue.
The shares were issued at A$0.0038 per share as part of the Tranche 1 placement of A$600,000 announced on 12 December 2017. The two tranche placement which secures up to A$2.35 million, is an important step for the Company and provides funding certainty to fast track commencement of the 2018 work programme upon the Cambay PSC licence renewal.
The Tranche 2 issue of approximately 349,240,000 shares at a price of A$0.005 (0.283 pence) to raise a further A$1.75 million (£0.99 million) is subject to shareholder approval, as well as the successful extension of the Cambay PSC by the Government of India for a further ten years on or before 31 March 2018. The Company anticipates holding its general meeting to approve Tranche 2 in March 2018.
Please refer to the attached Form 603.
http://www.rns-pdf.londonstockexchange.com/rns/5663D_-2018-2-1.pdf
For and on behalf of Oilex Ltd
Mark Bolton
Chief Financial Officer and Company Secretary
For further information, please contact:
Investor Enquiries Oilex Ltd Joe Salomon Managing Director Email: [email protected] Tel: +61 8 9485 3200 Australia |
AIM Broker Cornhill Capital Limited Broker Daniel Gee Email: [email protected] Tel: +44 20 3700 2500 UK |
AIM Nominated Adviser Strand Hanson Limited Nominated Adviser Rory Murphy/Ritchie Balmer Email: [email protected] Tel: +44 20 7409 3494 UK |
Media Enquires (UK) Vigo Communications Public Relations Patrick d'Ancona/Chris McMahon Email: [email protected] [email protected] Tel: +44 20 7830 9700 |
Media Enquiries (Aus) Citadel-MAGNUS Michael Weir Email: [email protected] Tel: +618 6160 4900 Australia |
