Notification of Consolidation/Split

Announcement Summary

Entity name

PILOT ENERGY LIMITED

Applicable security for the reorganisation

PGY

ORDINARY FULLY PAID

PGYAM

OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES

Announcement Type

New Announcement

Date of this announcement

Tuesday June 13, 2017

Reorganisation type

Security consolidation

Effective Date

Friday July 14, 2017

Record Date

Monday July 17, 2017

Issue Date

Monday July 24, 2017

Refer to below for full details of the announcement

Announcement Details

Part 1 - Entity and announcement details

  1. *Name of +Entity

    PILOT ENERGY LIMITED

  2. *Registered Number Type

    ACN

    115229984

    Registration Number

  3. *ASX issuer code

    PGY

  4. *The announcement is

    New announcement

  5. *Date of this announcement

    Tuesday June 13, 2017

  6. *Securities affected by the reorganisation

PGY

ORDINARY FULLY PAID

PGYAM

OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES

Part 2 - Approvals

  1. *Are any of the below approvals required for the reorganisation before business day 0 of the timetable?

    Security holder approval Court approval

    Lodgement of court order with +ASIC ACCC approval

    FIRB approval

    Another approval/condition external to the entity required to be given/met before business day 0 of the timetable for the reorganisation.

    Yes

  2. Approvals

Approval/Condition

+Security holder approval

Date for determination

Wednesday July 12,

2017

Is the date estimated or actual?

Actual

**Approval received/condition met?

No

Comments

Part 3 - Reorganisation timetable and details

  1. *+Record date

    Monday July 17, 2017

  2. Date of +security holder meeting

    Wednesday July 12, 2017

  3. Last day for trading in the pre-re-organised +securities

    Thursday July 13, 2017

  4. *Effective date. Trading in the re-organised securities commences on a +deferred settlement basis. If the +entity's securities are suspended from trading during this period there will be no

    +deferred settlement trading however ASX still captures this date.

    Friday July 14, 2017

  5. Record date

    Monday July 17, 2017

  6. First day for +entity to send notices to +security holders of the change in the number of

    +securities they hold. First day for +entity to register +securities on a post-reorganised basis

    Tuesday July 18, 2017

  7. *+Issue date. +Deferred settlement market ends. Last day for +entity to send notices to

    +security holder of the change in the number of +securities they hold. Last day for +entity to register +securities on a post-reorganised basis

    Monday July 24, 2017

  8. Trading starts on a normal T+2 basis

    Tuesday July 25, 2017

  9. First settlement of trades conducted on a +deferred settlement basis and on a normal T+2 basis

Thursday July 27, 2017

Part 4 - Reorganisation type and details

4.1 *The reorganisation is

+Security consolidation

  1. a *Consolidation ratio: the +securities will be consolidated on the basis that every

    50

    (pre-consolidation) +securities will be consolidated into

    1

    (post-consolidation) +security (/ies).

  2. *Scrip fraction rounding

Fractions rounded up to the next whole number

Part 5 - +Securities on issue before and after reorganisation

  1. *+Securities on issue before and after the reorganisation

    *ASX +Security Code

    PGY

    *ASX +Security Description ORDINARY FULLY

    PAID

    Quoted/unquoted

    Quoted

    Number on issue before reorganisation 2,938,816,834

    Number on issue after reorganisation 58,776,337

    Estimate/Actual

    Estimated

    *ASX +Security Code

    PGYAM

    *ASX +Security Description OPTION EXPIRING

    VARIOUS DATES EX

    VARIOUS PRICES

    Quoted/unquoted

    Unquoted

    Number on issue before reorganisation 207,500,000

    Number on issue after reorganisation 4,150,000

    Estimate/Actual

    Estimated

  2. *Exercise price of options

*ASX +Security Code

PGYAM

*ASX +Security Description

OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES

Quoted/unquoted

Unquoted

Exercise price before reorganisation

AUD 0.00000000

Exercise price after reorganisation AUD 0.00000000

Part 6 - Further information

  1. Further information relating to the reorganisation

    N/A

  2. Additional information for inclusion in the Announcement Summary

Pilot Energy Limited published this content on 13 June 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 13 June 2017 03:04:14 UTC.

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