Adavale Resources : Update - Proposed issue of securities - ADD

About this update from Adavale Resources Limited

Proposed issue of securities Update Summary For personal use only Entity name ADAVALE RESOURCES LIMITED Announcement Type Update to previous announcement Date of this announcement 29/7/2022 Reason for update to a previous announcement Updating the Issue date from 21 September to 23 September 2022 as per the Prospectus Refer to next page for full details of the announcement Proposed issue of securities 1 / 8 Proposed issue of securities Part 1 - Entity and announcement details For personal use only 1.1 Name of +Entity ADAVALE 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 008719015 1.3 ASX issuer code ADD 1.4 The announcement is Update/amendment to previous announcement 1.4a Reason for update to a previous announcement Updating the Issue date from 21 September to 23 September 2022 as per the Prospectus 1.4b Date of previous announcement to this update 27/7/2022 1.5 Date of this announcement 29/7/2022 1.6 The Proposed issue is: A standard +pro rata issue (non-renounceable or renounceable) 1.6a The proposed standard +pro rata issue is: + Non-renounceable Proposed issue of securities 2 / 8 Proposed issue of securities Part 3 - Details of proposed entitlement offer issue only Part 3A - Conditions 3A.1 Do any external approvals need to be obtained or other conditions satisfied before the entitlement offer can proceed on an unconditional basis? use No Part 3B - Offer details Class or classes of +securities that will participate in the proposed issue and class or classes of +securities personal proposed to be issued ASX +security code and description ADD : ORDINARY FULLY PAID Is the proposed security a 'New Will the proposed issue of this If the entity has quoted company class' (+securities in a class that is +security include an offer of options, do the terms entitle option not yet quoted or recorded by ASX) attaching +securities? holders to participate on exercise? or an 'Existing class' (additional Yes No securities in a class that is already quoted or recorded by ASX)? Existing class D tails of +securities proposed to be issued ASX +security code and description ADD : ORDINARY FULLY PAID For ISIN Code (if Issuer is a foreign company and +securities are non CDIs) ISIN Code for the entitlement or right to participate in a non-renounceable issue (if Issuer is foreign company and +securities are non CDIs) Offer ratio (ratio to existing holdings at which the proposed +securities will be issued) The quantity of additional +securities to be issued For a given quantity of +securities held 1 6 Proposed issue of securities 3 / 8 Proposed issue of securities personal use only What will be done with fractional Maximum number of +securities entitlements? proposed to be issued (subject to rounding) Fractions rounded up to the next 59,554,598 whole number Offer price details for retail security holders In what currency will the offer be What is the offer price per +security made? for the retail offer? AUD - Australian Dollar AUD 0.02000 Oversubscription & Scale back details Will individual +security holders be permitted to apply for more than their entitlement (i.e. to over-subscribe)? Yes Describe the limits on over-subscription No limit and the shortfall allocation is at the Company's absolute discretion. Will a scale back be applied if the offer is over-subscribed? Yes Describe the scale back arrangements At the Company's absolute discretion. Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes Attaching +Security For Is the proposed attaching 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 Attaching +Security - New class (+securities in a class that is not yet quoted or recorded by ASX) Details of attaching +securities proposed to be issued Proposed issue of securities 4 / 8 Proposed issue of securities ISIN Code (if Issuer is a foreign company and +securities are non CDIs) ISIN Code for the entitlement or right to participate in a non-renounceable issue (if Issuer is foreign company and +securities are non CDIs) only 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 o +securities on ASX? No +Security description Options exercisable at $0.03 each expiring 12 months from the grant date use +Security type Options Offer ratio (ratio of attaching securities at which the new +securities will be issued) The quantity of attaching +securities to be issued 1 What will be done with fractional entitlements? Fractions rounded up to the next whole number For a given quantity of the new +securities issued 3 Maximum number of +securities proposed to be issued (subject to rounding) 19,851,533 Offer price details for retail security holders For personal In what currency will the offer be made? AUD - Australian Dollar Oversubscription & Scale back details Will individual +security holders be permitted to apply for more than their entitlement (i.e. to over-subscribe)? Yes Describe the limits on over-subscription What is the offer price per +security for the retail offer? AUD 0.00000 No limit and the shortfall allocation is at the Company's absolute discretion. Will a scale back be applied if the offer is over-subscribed? Yes Proposed issue of securities 5 / 8 This is an excerpt of the original content. To continue reading it, access the original document here .

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