Proposed issue of securities
Announcement Summary
For personal use only
Entity name
VORTIV LIMITED
Announcement Type
New announcement
Date of this announcement
21/12/2021
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
Maximum Number of | ||
ASX +security code | +Security description | +securities to be issued |
New class-code to be | Class C Director Options | 60,000,000 |
confirmed |
Proposed +issue date
24/1/2022
Refer to next page for full details of the announcement
Proposed issue of securities | 1 / 6 |
Proposed issue of securities
Part 1 - Entity and announcement details
For personal use only
1.1 Name of +Entity
VORTIV 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 |
ACN | 057335672 | |
1.3 | ASX issuer code | |
VOR |
- The announcement is New announcement
- Date of this announcement
21/12/2021
1.6 The Proposed issue is:
A placement or other type of issue
Proposed issue of securities | 2 / 6 |
Proposed issue of securities
Part 7 - Details of proposed placement or other issue
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 | ||||||||||
use | 7A.1a Conditions | |||||||||
Approval/Condition | Date for determination | Is the date estimated or | ** Approval | |||||||
+Security holder approval | 18/1/2022 | actual? | received/condition met? | |||||||
Actual | ||||||||||
Comments | ||||||||||
Extraordinary General Meeting to be held on 18 January 2022. Notice of EGM issued on 17 December 2021. | ||||||||||
personal | ||||||||||
P rt 7B - Issue details | ||||||||||
Is the proposed security a 'New | Will the proposed issue of this | |||||||||
class' (+securities in a class that is | +security include an offer of | |||||||||
not yet quoted or recorded by ASX) | attaching +securities? | |||||||||
or an 'Existing class' (additional | No | |||||||||
securities in a class that is already | ||||||||||
quoted or recorded by ASX)? | ||||||||||
New class | ||||||||||
Details of +securities proposed to be issued | ||||||||||
For | ISIN Code (if Issuer is a foreign company and +securities are non CDIs) | |||||||||
Have you received confirmation from | Will the entity be seeking quotation | |||||||||
ASX that the terms of the proposed | of the 'new' class of +securities on | |||||||||
+securities are appropriate and | ASX? | |||||||||
equitable under listing rule 6.1? | No | |||||||||
Yes | ||||||||||
ASX +security code | +Security description | |||||||||
New class-code to be confirmed | Class C Director Options | |||||||||
+Security type Options
Proposed issue of securities | 3 / 6 |
Proposed issue of securities
Number of +securities proposed to be issued 60,000,000
Offer price details | |||
only | Are the +securities proposed to be issued being issued for a cash consideration? | ||
No | |||
Please describe the consideration being provided for the +securities | |||
Since their appointment in April 2021 each of the Directors have all made significant unrewarded time commitments to | |||
assist the Company in identifying and executing on its future growth strategy. The Directors have been directly and | |||
actively involved in the Company's business to a far greater extent than is standard and usual for a non-executive director | |||
use | of a microcap listed company, for no additional remuneration. The issue of the Director Options to the Directors (refer | ||
resolutions 2 to 4 in the Notice of EGM) will incentivise and further align their interests to the success of the Company | |||
Please provide an estimate of the AUD equivalent of the consideration being | |||
provided for the +securities | |||
Will all the +securities issued in this class rank equally in all respects from | |||
their issue date? | |||
personal | Yes | ||
Options details | |||
+Security currency | Exercise price | Expiry date | |
AUD - Australian Dollar | AUD 0.0300 | 17/1/2026 | |
Details of the type of +security that will be issued if the option is exercised | |||
VOR : ORDINARY FULLY PAID | |||
Number of securities that will be issued if the option is exercised | |||
one ordinary share for each option | |||
For | 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. | |||
https://www.asx.com.au/asxpdf/20211217/pdf/45497cwyg23w5w.pdf | |||
Part 7C - Timetable
7C.1 Proposed +issue date
24/1/2022
Proposed issue of securities | 4 / 6 |
Proposed issue of securities
Part 7D - Listing Rule requirements
only | 7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? | ||
No | |||
7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% | |||
placement capacity under listing rule 7.1? | |||
No | |||
7D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's | |||
additional 10% placement capacity under listing rule 7.1A (if applicable)? | |||
use | No | ||
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? | |||
personal | 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 | |||
For | 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
To remunerate and incentivise the directors and to align their interests to the success of the Company.
7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No
Proposed issue of securities | 5 / 6 |
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Vortiv Limited published this content on 21 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 December 2021 04:19:04 UTC.