Oilex Ltd Waiver of ASX Listing Rule 10.13.5 (8894P)
November 23 2016 - 2:00AM
UK Regulatory
TIDMOEX
RNS Number : 8894P
Oilex Ltd
23 November 2016
ASX Announcement
23 November 2016
ASX: OEX
AIM: OEX
Waiver of ASX Listing Rule 10.13.5
Oilex Ltd refers to its announcement of 24 October 2016 in
relation to its 23 November 2016 Annual General Meeting Notice of
Meeting.
The Company applied to the ASX for a waiver of Listing Rule
10.13.5 in relation to Resolution 3 Approval of Managing Director
Special Funding and Retention Awards.
Pursuant to Listing Rule 10.13.5 the issue price of the
securities must be included in the Notice of Meeting (Notice).
The Company is pleased to advise the ASX on 18 November 2016
granted the requested waiver to permit the Notice to approve the
issue of $100,000 worth of ordinary shares (Award Shares) to the
Managing Director, Mr Jonathan Salomon, without an issue price,
subject to the following conditions:
1.1 The Notice states that the number of Award Shares to be
issued to Mr Salomon will be calculated based on the volume
weighted average price of the underlying shares for the 20 business
days on which the shares traded prior to the date of the Company's
Annual General Meeting (AGM).
1.2 The Company announces the issue price of the Award Shares prior to the AGM.
The Company has calculated the issue price of the Award Shares
at $0.0077 and accordingly 12,987,013 Oilex ordinary shares will be
issued to Mr Salomon upon shareholder approval.
For and on behalf of the Board
Mark Bolton
Chief Financial Officer and Company Secretary
For further information, please contact:
Investor Nominated Media Enquires Media Enquiries
Enquiries Adviser (UK) (Aus)
Oilex Ltd Strand Hanson Vigo Communications Citadel-MAGNUS
Joe Salomon Limited Public Relations Michael Weir
Managing Nominated Patrick d'Ancona/Chris Email:
Director Adviser McMahon mweir@citadelmagnus.com
Email: oilex@oilex.com.au Rory Murphy/Ritchie Email: Tel: +618
Tel: +61 Balmer patrick.dancona@vigocomms.c 6160 4900
8 9485 3200 Email: om Australia
Australia oilex@strandhanson.co.uk chris.mcmahon@vigocomms.com
Tel: +44 20 Tel: +44 20
7409 3494 7830 9700
UK
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