TIDMOEX

RNS Number : 4513T

Oilex Ltd

20 July 2015

ASX Announcement

20 July 2015

ASX: OEX

AIM: OEX

Capital Raising - Update

On 7 July 2015, the Company announced that it was undertaking a capital raising package to secure approximately A$30 million (before costs) (Capital Raising). A component of the Capital Raising included approximately A$9.4 million through the issue of 225,490,196 Shares to Zeta Resources Limited (Zeta Deferred Shares) at A$0.04182 per Share.

As announced on 8 July 2015, Oilex is seeking Shareholder approval at a General Meeting on 12 August 2015 for the issue and allotment of the Zeta Deferred Shares within five (5) months after the General Meeting, this required the Company to seek an ASX waiver of Listing Rule 7.3.2 which stipulates all shares must be issued no later than three (3) months after the date of the General Meeting.

The Company has been notified this waiver will not be granted.

Subject to shareholder approval, the Company will now proceed to issue and allot the Zeta Deferred Shares within three (3) months after the date of the General Meeting in accordance with Listing Rule 7.3.2

For and on behalf of Oilex Ltd

Ron Miller

Managing Director

For further information, please contact the company or its advisors listed below:

 
 PAC Partners                                                  Strand Hanson               Vigo Communications 
 Pty Ltd                                Westhouse Securities    Limited                    Public Relations 
 Australian Broker                                   Limited    Nominated Adviser          UK 
 Andrew Shearer                                   AIM Broker    Rory Murphy                Patrick d'Ancona 
 Email:                             Robert Finlay / Alastair    /Ritchie Balmer            / Chris McMahon 
 ashearer@pacpartners.com.au                        Stratton    Email:                     Email: 
 Tel: +61 3 8633                                      Email:    oilex@strandhanson.co.uk   patrick.dancona@vigocomms.c 
 9862                          alastair.stratton@westhousese    Tel: +44 20                om 
 Australia                                      curities.com    7409 3494                  chris.mcmahon@vigocomms.com 
                                            Tel: +44 20 7601    UK                         Tel: +44 20 7016 
                                                        6100                               9570 
                                                          UK                               UK 
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