TIDMOEX

RNS Number : 3622E

Oilex Ltd

05 November 2020

ASX-RNS Announcement

5 November 2020

ASX: OEX

AIM: OEX

Waiver Granted

Oilex Ltd ("Oilex or the Company") has been granted a waiver from Listing Rule 10.13.5, to the extent necessary to permit the Company's Notice of Annual General meeting to approve the issue of ordinary shares to Mr Paul Haywood and Mr Peter Schwarz (together, the Non-Executive Directors) , in lieu of cash payments for director fees.

The waiver in respect of Listing Rule 10.13.5 was granted on the following conditions:

(a) The Notice states that the Remuneration Shares will be issued within 12 months after shareholder approval is obtained.

(b) The Remuneration Shares are issued no later than 10 business days after the end of the relevant quarter.

(c) The Notice includes a worked example of the dilution that will occur to existing shareholders of the Company as a result of the issue of Remuneration Shares at three different prices.

(d) The Company's annual report for any period during which the shares are issued to the Directors (or their nominees), discloses details of the number of Remuneration Shares that were issued to them, including the percentage of the Company's issued capital represented by those Remuneration Shares.

   (e)              The terms of the waiver are immediately released to the Market.

For and on behalf of Oilex Ltd

Mark Bolton

Executive Director and Company Secretary

For further information, please contact:

 
 Investor Enquires            AIM Broker                    AIM Nominated                  Media Enquires 
  Oilex Ltd                   Novum Securities              Adviser                        (UK) 
  Joe Salomon                 B roker                       Strand Hanson                  Vigo Communications 
  Managing Director           Colin Rowbury                 Limited                        Public Relations 
  Email: oilex@oilex.com.au   Email:                        Nominated Adviser              Patrick d'Ancona/Chris 
  Tel: +61 8 9485             crowbury@novumsecurities.co   Rory Murphy/Ritchie            McMahon 
  3200                        m                             Balmer                         Email: 
  Australia                   Tel: +44 20 7399              Email:                         patrick.dancona@vigocomms.c 
                              9427                          oilex@strandhanson.co.uk       om 
                              UK                            Tel: +44 20 7409               chris.mcmahon@vigocomms.com 
                                                            3494                           Tel:+ 44 20 7390 
                                                            UK                             0230 UK

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END

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November 05, 2020 02:30 ET (07:30 GMT)

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