RNS Number : 3622E
Oilex Ltd
05 November 2020
ASX-RNS Announcement
5 November 2020
ASX: OEX
AIM: OEX
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:
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Investor Enquires
Oilex Ltd
Joe Salomon
Managing Director
Email: oilex@oilex.com.au
Tel: +61 8 9485 3200
Australia
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AIM Broker
Novum Securities
B
roker
Colin Rowbury
Email:
crowbury@novumsecurities.com
Tel: +44 20 7399 9427
UK
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AIM Nominated Adviser
Strand Hanson Limited
Nominated Adviser
Rory Murphy/Ritchie Balmer
Email: oilex@strandhanson.co.uk
Tel: +44 20 7409 3494
UK
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Media Enquires (UK)
Vigo Communications
Public Relations
Patrick d'Ancona/Chris McMahon
Email: patrick.dancona@vigocomms.com
chris.mcmahon@vigocomms.com
Tel:+ 44 20 7390 0230 UK
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