Norwood : Notification regarding unquoted securities - NOR

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

Announcement Summary

For personal use only

Entity name

NORWOOD SYSTEMS LIMITED

Date of this announcement

Thursday February 10, 2022

The +securities the subject of this notification are:

Other

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
New class - code	Options exercisable at 2.4cents expiring 08-Feb	15,000,000	08/02/2022
to be confirmed	2025

Refer to next page for full details of the announcement

Notification of Issue, Conversion or Payment up of Unquoted

1 / 7

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

Part 1 - Entity and announcement details

For personal use only

1.1 Name of entity

NORWOOD SYSTEMS LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2	Registered number type	Registration number
ABN	15062959540
1.3	ASX issuer code
NOR

1. The announcement is New announcement
2. Date of this announcement

10/2/2022

Notification of Issue, Conversion or Payment up of Unquoted

2 / 7

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

Part 2 - Issue details

For personal use only

2.1 The +securities the subject of this notification are: Other

Please specify

Issue of Options to Directors as approved at the AGM held on 31-Jan 2022 Resolution 18, 19 and 20

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

does not have an existing ASX security code ("new class")

Notification of Issue, Conversion or Payment up of Unquoted

3 / 7

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX in an Appendix 3B

only	New +securities
ASX +security code			+Security description
	New class - code to be confirmed			Options exercisable at 2.4cents expiring 08-Feb 2025
	+Security type			ISIN code
	Options
use	Date the +securities the subject of this notification were issued
8/2/2022
	Will all the +securities issued in this class rank equally in all respects from their issue date?
personal	Yes
Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under
	listing rule 6.1?
	Yes
	Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being
	issued.
	The Notice of Meeting for an AGM held on 31 Jan 2022
	https://www2.asx.com.au/markets/trade-our-cash-market/announcements.nor
Options Details
	+Security currency	Exercise price		Expiry date
	AUD - Australian Dollar	AUD 0.02400000	8/2/2025
	Details of the existing class of +security that will be issued upon exercise or conversion of this new class of
For	company option
Other

Description

On conversion of the Option Ordinary Fully Paid Shares will be issued

Any other information the entity wishes to provide about the +securities the subject of this notification

Director options as approved at its 31-Jan 2022 AGM issued to the new non-executive directors

Notification of Issue, Conversion or Payment up of Unquoted

4 / 7

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

Options were subject to shareholder approval on 31-Jan 2022

	Issue details
only	Number of +securities
		15,000,000
		Were the +securities issued for a cash consideration?
use	No
Please describe the consideration being provided for the +securities
		Deemed reasonable total non-cash director remuneration for three new directors valued at $88,323 in total or $0.00589
		per option
		Purpose of the issue
		To pay for services rendered
personalFor	Additional Details
non-cash director remuneration

Notification of Issue, Conversion or Payment up of Unquoted

5 / 7