TAP OIL LIMITED ASX ANNOUNCEMENT | Tap Oil Limited | ||
ABN 89 | 068 572 341 | ||
15 December 2020 | Level 2, 190 St Georges | ||
Terrace | |||
ASX: TAP | Perth WA 6000 | ||
Australia | |||
T: +61 | 8 9485 | 1000 | |
F: +61 | 8 9485 | 1060 | |
E: info@tapoil.com.au |
www.tapoil.com.au
Tap Oil Limited announces completion of off-market equal access share buy-back
Tap Oil Limited (Company) is pleased to announce that it has bought back $13,316,947 of fully paid ordinary shares in the capital of the Company (Shares) through the off-market equal access share buy- back (Buy Back) previously announced on ASX on 29 September 2020, and approved by Shareholders at its general meeting held on 29 October 2020.
The Buy Back closed on 14 December 2020.
The maximum number of shares that could be bought back under the Buy Back was capped at 230,000,000 Shares at the Buy Back price of $0.078 per Share.
Shareholders submitted valid applications for a total of 170,730,090 Shares to be bought back. Given the number of Shares applied to be bought back was less than the maximum number of Shares proposed to be bought back by the Company, all valid applications were accepted in full with no scaling back required.
The completion of the Buy Back achieves the Company's goal to provide its Shareholders with an opportunity to potentially realise some or all of their investment in the Company prior to Company's delisting from the Official List of the ASX on 18 December 2020.
The Company's Share structure following completion of the Buy Back is set out in the table below.
Number of | Percentage of total issued | |
Shares | Shares before Buy Back | |
Total issued Shares before | 431,269,296 | 100% |
Buy Back | ||
Buy Back Limit | 230,000,000 | 53.71% |
Total issued Shares after | 260,539,206 | 60% |
Buy Back |
Dispatch of cheques and direct crediting to bank accounts of the Buy Back proceeds will be completed as soon as practicable, anticipated to occur 15 December 2020.
In accordance with ASX Listing Rule 3.8A, attached is an Appendix 3F relating to the Buy Back.
1
On 29 October 2020, Shareholders approved the Company's removal from the Official List of the ASX from the close of trading on 18 December 2020. The Company wishes to advise Shareholders that following the Company's removal from the Official List, any further announcements to be made by the Company will be made available on the Company's website at http://www.tapoil.com.au/site/investor- centre.
Authorised by the Board of Tap Oil Limited
Investor enquiries
Link Market Services
Share Registry
Phone: 1300 650 320
2
Appendix 3F
Final share buy-back notice
Rule 3.8A
Appendix 3F
Final share buy-back notice
(except minimum holding buy-back)
Introduced 1/9/99. Origin: Appendices 7D and 7E. Amended 30/9/2001, 11/01/10
Information and documents given to ASX become ASX's property and may be made public.
Name of entity | ABN/ARSN | |||
Tap Oil Limited | 89 068 572 341 | |||
We (the entity) give ASX the following information. | ||||
Description of buy-back | ||||
1 | Type of buy-back | |||
Off-market equal access buy-back | ||||
Details of all shares/units bought back
- Number of shares/units bought 170,730,090 back
- Total consideration paid or $13,316,947.02 payable for the shares/units
4 | If buy-back is an on-market buy- | N/A |
back - highest and lowest price | ||
paid |
- See chapter 19 for defined terms. 11/01/2010 Appendix 3F Page 1
Appendix 3F
Final share buy-back notice
Compliance statement
1. The company is in compliance with all Corporations Act requirements relevant to this buy-back.
or, for trusts only:
- The trust is in compliance with all requirements of the Corporations Act as modified by Class Order 07/422, and of the trust's constitution, relevant to this buy-back.
- There is no information that the listing rules require to be disclosed that has not already been disclosed, or is not contained in, or attached to, this form.
Sign here: | .............................. Date: 15 December 2020 |
(Company secretary) | |
Print name: | Shannon Coates |
== == == == == |
+ See chapter 19 for defined terms.
Appendix 3F Page 2 | 11/01/2010 |
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original document
- Permalink
Disclaimer
Tap Oil Limited published this content on 15 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 December 2020 06:16:07 UTC
