Proposed issue of securities

Update Summary

For personal use only

Entity name

ICON ENERGY LIMITED

Announcement Type

Update to previous announcement

Date of this announcement

29/11/2021

Reason for update to a previous announcement

Icon Energy Limited lodged an announcement Proposed issue of securities - ICN (Appendix 3B) with ASX on Monday 29 November 2021 with the error to the offer price of the option at AUD0.05 on page five (5).

Therefore, Icon is lodging an amended Appendix 3B without the offer price for the free attaching options. Free attaching options over ordinary shares are exercisable at AUD0.05 ea on or before 12 September 2022.

Refer to next page for full details of the announcement

Proposed issue of securities

1 / 8

Proposed issue of securities

Part 1 - Entity and announcement details

For personal use only

1.1 Name of +Entity

ICON ENERGY LIMITED

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

Registration Number

ABN

61058454569

1.3

ASX issuer code

ICN

1.4 The announcement is

Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

Icon Energy Limited lodged an announcement Proposed issue of securities - ICN (Appendix 3B) with ASX on Monday 29 November 2021 with the error to the offer price of the option at AUD0.05 on page five (5).

Therefore, Icon is lodging an amended Appendix 3B without the offer price for the free attaching options. Free attaching options over ordinary shares are exercisable at AUD0.05 ea on or before 12 September 2022.

1.4b Date of previous announcement to this update

29/11/2021

1.5 Date of this announcement

29/11/2021

1.6 The Proposed issue is:

A standard +pro rata issue (non-renounceable or renounceable)

1.6a The proposed standard +pro rata issue is:

+ Non-renounceable

Proposed issue of securities

2 / 8

Proposed issue of securities

Part 3 - Details of proposed entitlement offer issue

only

Part 3A - Conditions

3A.1 Do any external approvals need to be obtained or other conditions satisfied before the entitlement offer can

proceed on an unconditional basis?

use

No

Part 3B - Offer details

Class or classes of +securities that will participate in the proposed issue and class or classes of +securities

personal

proposed to be issued

ASX +security code and description

ICN : ORDINARY FULLY PAID

Is the proposed security a 'New

Will the proposed issue of this

If the entity has quoted company

class' (+securities in a class that is

+security include an offer of

options, do the terms entitle option

not yet quoted or recorded by ASX)

attaching +securities?

holders to participate on exercise?

or an 'Existing class' (additional

Yes

No

securities in a class that is already

quoted or recorded by ASX)?

Existing class

D tails of +securities proposed to be issued

ASX +security code and description

ICN : ORDINARY FULLY PAID

For

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

ISIN Code for the entitlement or right to participate in a non-renounceable

issue (if Issuer is foreign company and +securities are non CDIs)

Offer ratio (ratio to existing holdings at which the proposed +securities will be issued)

The quantity of additional +securities to be issued

For a given quantity of +securities held

1

2

Proposed issue of securities

3 / 8

Proposed issue of securities

What will be done with fractional entitlements?

Maximum number of +securities proposed to be issued (subject to rounding)

only

Fractions rounded down to the nearest

328,803,469

whole number or fractions disregarded

Offer price details for retail security holders

In what currency will the offer be

What is the offer price per +security

made?

for the retail offer?

AUD - Australian Dollar

AUD 0.01000

use

Oversubscription & Scale back details

personal

Will individual +security holders be permitted to apply for more than their

entitlement (i.e. to over-subscribe)?

New class

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

Attaching +Security

Is the proposed attaching security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX)

For

or an 'Existing class' (additional +securities in a class that is already quoted or recorded by ASX)?

Attaching +Security - New class (+securities in a class that is not yet quoted or recorded by ASX)

Details of attaching +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

Proposed issue of securities

4 / 8

Proposed issue of securities

ISIN Code for the entitlement or right to participate in a non-renounceable issue (if Issuer is foreign company and +securities are non CDIs)

only

Have you received confirmation from ASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1?

Yes

ASX +security code

New class-code to be confirmed

Will the entity be seeking quotation of the 'new' class o +securities on ASX?

Yes

+Security description

Options over ordinary shares exercisable at $0.05 ea on or before 12 September 2022

+Security type

Options

Offer ratio (ratio of attaching securities at which the new +securities will be issued)

For personal use

The quantity of attaching +securities to be issued

1

What will be done with fractional entitlements?

Fractions rounded down to the nearest whole number or fractions disregarded

Offer price details for retail security holders

In what currency will the offer be made?

AUD - Australian Dollar

Oversubscription & Scale back details

Will individual +security holders be permitted to apply for more than their entitlement (i.e. to over-subscribe)?No

Will a scale back be applied if the offer is over-subscribed?

No

For a given quantity of the new +securities issued

1

Maximum number of +securities proposed to be issued (subject to rounding)

328,803,469

What is the offer price per +security for the retail offer?

AUD 0.00000

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Proposed issue of securities

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Disclaimer

Icon Energy Limited published this content on 29 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 November 2021 07:09:05 UTC.