Middle Island Resources : 13 Jan 2022 - Proposed issue of securities PDF
MDI.AX
Proposed issue of securities
Announcement Summary
Entity name
MIDDLE ISLAND RESOURCES LIMITED
Announcement Type
New announcement
Date of this announcement
13/1/2022
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
Unlisted options to acquire fully paid ordinary shares
6,000,000
confirmed
Proposed +issue date
14/2/2022
Refer to next page for full details of the announcement
Proposed issue of securities
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Proposed issue of securities
Part 1 - Entity and announcement details
1.1 Name of +Entity
MIDDLE ISLAND RESOURCES 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
142361608
1.3
ASX issuer code
MDI
13/1/2022
1.6 The Proposed issue is:
A placement or other type of issue
Proposed issue of securities
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Proposed issue of securities
Part 7 - Details of proposed placement or other issue
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
7A.1a Conditions
Approval/Condition
Date for determination
Is the date estimated or
** Approval
+Security holder approval
11/2/2022
actual?
received/condition met?
Actual
No
Comments
Part 7B - Issue details
Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)?
New class
Will the proposed issue of this +security include an offer of attaching +securities?
No
Details of +securities proposed to be issued
ISIN Code (if Issuer is a foreign company and +securities are non CDIs)
Have you received confirmation from ASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1?
No
ASX +security code
New class-code to be confirmed
Will the entity be seeking quotation of the 'new' class of +securities on ASX?
No
+Security description
Unlisted options to acquire fully paid ordinary shares
+Security type
Options
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Proposed issue of securities
Number of +securities proposed to be issued
6,000,000
Offer price details
Are the +securities proposed to be issued being issued for a cash consideration?
No
Please describe the consideration being provided for the +securities
Issued as an incentive and motivation to contribute special exertion
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?
Yes
Options details
+Security currency
Exercise price
Expiry date
AUD - Australian Dollar
AUD 0.1279
14/2/2027
Details of the type of +security that will be issued if the option is exercised
MDI : ORDINARY FULLY PAID
Number of securities that will be issued if the option is exercised
6000000
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.
www.middleisland.com.au
Part 7C - Timetable
7C.1 Proposed +issue date
14/2/2022
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Proposed issue of securities
Part 7D - Listing Rule requirements
7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? Yes
7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1
11/2/2022
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? 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
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 incentivise and motivate directors
7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No
7F.2 Any other information the entity wishes to provide about the proposed issue
Proposed issue of securities
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Disclaimer
Middle Island Resources Limited published this content on 13 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 January 2022 07:00:09 UTC.