Pacgold : Proposed issue of securities - PGO

Proposed issue of securitiesAnnouncement Summary

Entity name PACGOLD LIMITED

Announcement Type New announcement

Date of this announcement 20/4/2022

The Proposed issue is:

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

Total number of +securities proposed to be issued for a standard pro rata issue (including non-renounceable or renounceable)

Ex date 22/4/2022

+Record date 26/4/2022

Offer closing date 9/5/2022

Issue date 13/5/2022

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Proposed issue of securities

Part 1 - Entity and announcement details

1.1 Name of +Entity

PACGOLD 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 636421782

1.3 ASX issuer code PGO

1.4 The announcement isNew announcement

1.5 Date of this announcement 20/4/2022

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

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Proposed issue of securities

Part 3 - Details of proposed entitlement offer issue

For personal use 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?

No

Part 3B - Offer details

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

ASX +security code and description PGO : ORDINARY FULLY PAID

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)?

Will the proposed issue of this +security include an offer of attaching +securities?

If the entity has quoted company options, do the terms entitle option holders to participate on exercise?

No

No

Existing class

Details of +securities proposed to be issued

ASX +security code and description

PGO : ORDINARY FULLY PAID

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 For a given quantity of +securities

to be issued 5

held 48

Proposed issue of securities

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Proposed issue of securities

What will be done with fractional entitlements?

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

Fractions rounded up to the next whole number

5,142,318

For personal use only

Offer price details for retail security holders

Will individual +security holders be permitted to apply for more than their entitlement (i.e. to over-subscribe)?

Yes

Describe the limits on over-subscription

The Company will allocate any Additional New Shares applied for through the Shortfall Facility at the absolute discretion of the Directors, subject to the allocation not resulting in an Eligible Shareholder's voting power in the Company increasing from 20% or below to more than 20%, or from a starting point that is above 20% and below 90% in breach of section 606 of the Corporations Act.

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

Yes

Describe the scale back arrangements

Scale back arrangements are made at the absolute discretion of the Directors

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class?

Yes

Part 3C - Timetable

3C.1 +Record date

26/4/2022

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Proposed issue of securities

3C.2 Ex date 22/4/2022

3C.4 Record date

26/4/2022

For personal use only

3C.5 Date on which offer documents will be sent to +security holders entitled to participate in the +pro rata issue 28/4/2022

3C.6 Offer closing date 9/5/2022

3C.7 Last day to extend the offer closing date 4/5/2022

3C.9 Trading in new +securities commences on a deferred settlement basis 10/5/2022

3C.11 +Issue date and last day for entity to announce results of +pro rata issue 13/5/2022

3C.12 Date trading starts on a normal T+2 basis 16/5/2022

3C.13 First settlement date of trades conducted on a +deferred settlement basis and on a normal T+2 basis 18/5/2022

Part 3E - Fees and expenses

3E.1 Will there be a lead manager or broker to the proposed offer?

Yes

3E.1a Who is the lead manager/broker?

Euroz Hartleys Limited and Taylor Collison Limited.

3E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

The Company agreed to issue 1,000,000 options (in aggregate) to Euroz Hartleys and Taylor Collison Limited in connection with their role as joint lead managers to the Entitlement Offer, subject to Shareholder approval. The Options are exercisable at $0.945 on or before the date that is 3 years from the date of the grant.

3E.2 Is the proposed offer to be underwritten?

Yes

3E.2a Who are the underwriter(s)?

Euroz Hartleys Limited and Taylor Collison Limited.

Proposed issue of securities

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