Proposed issue of securitiesAnnouncement Summary
Entity name
For personal use only
ENVIRONMENTAL CLEAN TECHNOLOGIES LIMITED.
Announcement Type
New announcement
Date of this announcement 28/3/2022
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
Proposed +issue date 30/11/2022
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
ENVIRONMENTAL CLEAN TECHNOLOGIES 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 ACN
Registration Number 009120405
1.3 ASX issuer code ECT
1.4 The announcement isNew announcement
1.5 Date of this announcement 28/3/2022
1.6 The Proposed issue is:
A placement or other type of issue
Proposed issue of securities
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Proposed issue of securitiesPart 7 - Details of proposed placement or other issue
For personal use only
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 +Security holder approval
Date for determination 30/11/2022
Is the date estimated or actual?
Estimated
** Approval received/condition met?
Comments
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)?
New class
Details of +securities proposed to be issued
Will the proposed issue of this +security include an offer of attaching +securities?
No
ISIN Code (if Issuer is a foreign company and +securities are non CDIs)Have you received confirmation from Will the entity be seeking quotationASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1?
No
ASX +security code
New class-code to be confirmed
OPTIONS
+Security type
Options
of the 'new' class of +securities on ASX?
No
+Security description
Proposed issue of securities
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Proposed issue of securities
Number of +securities proposed to be issued
40,000,000
Offer price details
For personal use only
Are the +securities proposed to be issued being issued for a cash consideration?
No
Please describe the consideration being provided for the +securities
The options issue forms part of the consideration of directors remuneration.
Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities
50,000.000000
Will all the +securities issued in this class rank equally in all respects from their issue date?
Yes
Options details
+Security currency | Exercise price | Expiry date |
AUD - Australian Dollar | AUD 0.0500 | 30/11/2025 |
Details of the type of +security that will be issued if the option is exercised ECT : ORDINARY FULLY PAID
Number of securities that will be issued if the option is exercised One ordinary share for each one option exercised.
Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement.
Refer to the ASX release entitled Project Update: Commissioning program underway made on 28 March 2022.
Part 7C - Timetable
7C.1 Proposed +issue date
30/11/2022
Proposed issue of securities
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Proposed issue of securities
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?
Yes
For personal use only
7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1
30/11/2022
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
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
The options issue forms part of the consideration of directors remuneration.
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
Proposed issue of securities
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ECT - Environmental Clean Technologies Ltd. published this content on 27 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 March 2022 23:30:02 UTC.