Invion : Prospectus

IVX.AX

For personal use only

CONTENTS

1.

DESCRIPTION AND EFFECT OF THE OPTION OFFERS .....................................................

7

1.1

Overview of Placement Option Offer .......................................................................

7

1.2

Overview of SPP Option Offer ..................................................................................

7

1.3

Purpose of funds raised under the Option Offers ..................................................

8

1.4

Opening and closing dates .......................................................................................

8

1.5

No underwriting..........................................................................................................

8

1.6

Rights attaching to New Options .............................................................................

8

1.7

Allotment of New Options .........................................................................................

8

1.8

Prices of Shares .........................................................................................................

8

1.9

Further information....................................................................................................

8

1.10

Foreign Shareholders (Placement Option Offer) ....................................................

9

1.11

Foreign Restrictions (SPP Option Offer) ...............................................................

10

2.

HOW TO APPLY .....................................................................................................................

11

2.1 How to accept the Placement Option Offer (for Placement Participants

only)...........................................................................................................................

11

2.2

How to accept the SPP Option Offer (for SPP Participants only) .......................

11

2.3

Application Form is binding ...................................................................................

11

2.4

Brokerage and stamp duty......................................................................................

13

3.

EFFECT OF THE OPTION OFFERS ON INVION .................................................................

14

3.1

Effect of the Option Offers ......................................................................................

14

3.2

Effect on financial position .....................................................................................

14

3.3

Effect on capital structure.......................................................................................

14

3.4 Potential dilutionary impact of the SPP and Option Offers on

Shareholders ............................................................................................................

16

3.5

Substantial Shareholders........................................................................................

16

3.6 Potential impact of the Placement, SPP and Option Offers on control of

Invion.........................................................................................................................

16

4.

RISK FACTORS......................................................................................................................

18

4.1

Introduction ..............................................................................................................

18

4.2

Risks specific to the Option Offers ........................................................................

18

4.3

Risks specific to Invion ...........................................................................................

18

4.4

General risks ............................................................................................................

20

4.5

Other risks ................................................................................................................

20

5.

ADDITIONAL INFORMATION ................................................................................................

22

5.1

Transaction specific prospectus............................................................................

22

5.2

Information available to Shareholders...................................................................

22

5.3

Rights attaching to New Options ...........................................................................

23

For personal use only

TABLE OF CONTENTS

(continued)

Page

5.4

Rights attaching to Shares .....................................................................................

25

5.5

Corporate Governance ............................................................................................

26

5.6

Litigation ...................................................................................................................

26

5.7

Interests of Directors ...............................................................................................

26

5.8

Interests of named persons ....................................................................................

27

5.9

Consents ...................................................................................................................

27

5.10

Expenses of the Offers ............................................................................................

28

5.11

Electronic Prospectus .............................................................................................

28

6.

DIRECTORS' AUTHORISATION ...........................................................................................

29

7.

DEFINITIONS .........................................................................................................................

30

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3437-1575-7847, v. 3

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IMPORTANT NOTICES

This Prospectus is dated 22 November 2021 and was lodged with ASIC on that date. Neither ASIC nor ASX take any responsibility for the contents of this Prospectus or the merits of the investment to which this Prospectus relates. This Prospectus expires 13 months after the date of this Prospectus. No securities will be issued on the basis of this Prospectus any later than 13 months after the date of issue of this Prospectus.

This Prospectus contains offers of options to acquire continuously quoted securities and has been prepared in accordance with section 713 of the Corporations Act. It does not contain the same level of disclosure as an initial public offering prospectus. In making representations in this Prospectus, regard has been had to the fact that Invion is a disclosing entity for the purposes of the Corporations Act and certain matters may reasonably be expected to be known to investors and professional advisers whom potential investors may consult.

Invion may make additional announcements after the date of this Prospectus and throughout the period that the Option Offers are open that may be relevant to your consideration about whether you should participate in the Option Offers.

No party other than Invion has authorised or caused the issue of this Prospectus, or takes any responsibility for, or makes, any statements, representations or undertakings in this Prospectus or for any action you take in reliance on this Prospectus.

By returning an Application Form, you acknowledge that you have read this Prospectus and you have acted in accordance with, and agree to the terms of, the applicable Option Offer as detailed in this Prospectus.

Foreign jurisdictions

This Prospectus and the accompanying Application Forms do not constitute an offer or invitation in any place in which, or to any person to whom, it would not be lawful to make that offer or invitation. In particular, this Prospectus may not be distributed in the United States of America and the New Options may not be offered or sold, directly or indirectly, to persons in the United States of America.

This Prospectus is not to be distributed in, and no offer of SPP Options is to be made in countries other than Australia and New Zealand and no offer of Placement Options is made in countries other than Australia, Hong Kong and the United Kingdom, to the extent the offer can be made in accordance with applicable securities laws (see sections 1.10 and 1.11 for restrictions). The distribution of this Prospectus (including an electronic copy) in other jurisdictions may be restricted by law and, therefore, persons who come into possession of this Prospectus should seek advice on and observe these restrictions. Any failure to comply with these restrictions may constitute a violation of applicable securities laws.

No action has been taken to register or qualify the Option Offers, the New Options, or otherwise permit the public offering of the New Options, in any jurisdiction other than Australia.

Definitions, currency and time

Defined terms used in this Prospectus are contained in section 7. All references to currency are to Australian

dollars and all references to time are to Australian Eastern Daylight Savings Time unless otherwise indicated.

Taxation consequences for Applicants

There will be tax implications associated with participating in the Option Offers and receiving New Options. Invion considers that it is not appropriate to give advice regarding the tax consequences of subscribing for New Options under this Prospectus, the conversion of New Options into Shares, or the subsequent disposal of any New Options. Invion recommends that you consult your professional tax adviser in connection with the Option Offers.

Privacy

Invion collects information about each Applicant provided on an Application Form for the purposes of processing the Application and, if the Application is successful, to administer the Applicant's securityholding in Invion.

By submitting an Application Form, you will be providing personal information to Invion (directly or through the Share Registry). Invion collects, holds and will use that information to assess your Application. Invion collects your personal information to process and administer your securityholding in Invion and to provide related services to you. Invion may disclose your personal information for purposes related to your securityholding in Invion, including to the Share Registry, Invion's related bodies corporate, agents, contractors and third party service providers, including mailing houses and professional advisers, and to ASX and regulatory bodies. You can obtain access to personal information that Invion holds about you. To make a request for access to your personal information held by (or on behalf of) Invion, please contact Invion or its Share Registry.

Governing law

This Prospectus, the Option Offers and the contracts formed on acceptance of the Applications are governed by the law applicable in Victoria, Australia. Each Applicant submits to the exclusive jurisdiction of the Victorian courts and courts competent to hear appeals from those courts.

No representations

No person is authorised to give any information, or to make any representation, in connection with the Option Offers which is not contained in this Prospectus. Any information or representation in connection with the Option Offers not contained in the Prospectus may not be relied upon as having been authorised by Invion or any of its officers. Except as required by law, and only to the extent so required, none of Invion, or any other person, warrants or guarantees the future performance of Invion or any return on any investment made pursuant to this Prospectus.

Past performance

Investors should note that Invion's past performance, including past share price performance, cannot be relied upon as an indicator of (and provides no guidance as to) Invion's future performance including Invion's future financial position or share price performance.

Forward looking statements

This Prospectus contains certain forward-looking statements with respect to the financial condition, results of operations, projects and business of Invion and certain

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For personal use only

plans and objectives of the management of Invion. These forward-looking statements involve known and unknown risks, uncertainties and other factors which are subject to change without notice, and may involve significant elements of subjective judgement and assumptions as to future events which may or may not be correct.

Forward-looking statements are provided as a general guide only and there can be no assurance that actual outcomes will not differ materially from these statements. Neither Invion, nor any other person, gives any representation, warranty, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statement will actually occur. In particular, those forward-looking statements are subject to significant uncertainties and contingencies, many of which are outside the control of Invion. A number of important factors could cause actual results or performance to differ materially from the forward looking statements. Investors should consider the forward looking statements contained in this Prospectus in light of those disclosures.

Risks

Refer to section 4 of the Prospectus for a summary of general and specific risk factors that may affect Invion.

Trading of New Options

Invion will have no responsibility and disclaim all liability (to the maximum extent permitted by law) to persons who trade New Options they believe will be issued to them before they receive their holding statements, whether on the basis of confirmation of the allocation provided by Invion or the Share Registry or otherwise, or who otherwise trade or purport to trade New Options in error or to which they do not hold or are not entitled.

If you are in any doubt as to these matters, you should first consult with your stockbroker, accountant or other professional adviser.

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3437-1575-7847, v. 3

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Disclaimer

Invion Limited published this content on 22 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 November 2021 22:38:05 UTC.