Proposed issue of securities
Announcement Summary
Entity name
AUSTRALIAN SILICA QUARTZ GROUP LTD
Announcement Type
New announcement
Date of this announcement
Friday September 25, 2020
The Proposed issue is:
An offer of securities under a securities purchase plan
A placement or other type of issue
Total number of +securities proposed to be issued for an offer of securities under a securities purchase plan
Maximum Number of | ||
ASX +security code | +Security description | +securities to be issued |
ASQ | ORDINARY FULLY PAID | 21,428,571 |
+Record date
Thursday September 24, 2020
Offer closing date
Friday October 23, 2020
+Issue date
Friday October 30, 2020
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 |
ASQ | ORDINARY FULLY PAID | 28,571,428 |
Proposed +issue date
Friday October 2, 2020
Refer to next page for full details of the announcement
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Proposed issue of securities
Part 1 - Entity and announcement details
1.1 Name of +Entity
AUSTRALIAN SILICA QUARTZ GROUP LTD
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.
1.2 | Registered Number Type | Registration Number |
ABN | 72119699982 | |
1.3 | ASX issuer code | |
ASQ |
- The announcement is New announcement
- Date of this announcement
Friday September 25, 2020
1.6 The Proposed issue is:
An offer of +securities under a +securities purchase plan
A placement or other type of issue
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Proposed issue of securities
Part 4 - Details of proposed offer under securities purchase plan
Part 4A - Conditions
4A.1 - Are any of the following approvals required for the offer of +securities under the +securities purchase plan issue to be unconditional?
+Security holder approval
Court approval
Lodgement of court order with +ASIC
ACCC approval
FIRB approval
Another approval/condition external to the entity
No
Part 4B - Offer details
Class or classes of +securities that will participate in the proposed issue and class or classes of +securities proposed to be issued
ASX +security code and description
ASQ : ORDINARY FULLY PAID
Will the proposed issue of this +security include an offer of attaching +securities?
No
Details of +securities proposed to be issued
ASX +security code and description
ASQ : ORDINARY FULLY PAID
Maximum total number of those +securities that could be issued if all offers under the +securities purchase plan are accepted
21,428,571
Will the offer be conditional on applications for a minimum number of +securities being received or a minimum amount being raised (i.e. a minimum subscription condition)?
No
Will the offer be conditional on applications for a maximum number of +securities being received or a maximum amount being raised (i.e. a maximum subscription condition)?
No
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Proposed issue of securities
Will individual security holders be required to accept the offer for a minimum number or value of +securities (i.e. a minimum acceptance condition)?
Yes
Is the minimum acceptance unit based or dollar based?
Dollar based ($)
Please enter the minimum acceptance value
$ 2,000
Will individual security holders be limited to accepting the offer for a maximum number or value of +securities (i.e. a maximum acceptance condition)?
Yes
Is the maximum acceptance unit based or dollar based?
Dollar based ($)
Please enter the maximum acceptance value
$ 30,000
Describe all the applicable parcels available for this offer in number of securities or dollar value
$2,000, $5,000, $10,000, $20,000, $30,000
Offer price details
Has the offer price been determined?
Yes
In what currency will the offer be made?
What is the offer price per +security?
AUD - Australian Dollar | AUD 0.07000 |
Oversubscription & Scale back details
Will a scale back be applied if the offer is over-subscribed?
Yes
Describe the scale back arrangements
Scale back to be at the discretion of the board
Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class?
Yes
Part 4C - Timetable
4C.1 Date of announcement of +security purchase plan
Friday September 25, 2020
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Proposed issue of securities
4C.2 +Record date
Thursday September 24, 2020
4C.3 Date on which offer documents will be made available to investors
Friday October 2, 2020
4C.4 Offer open date
Friday October 2, 2020
4C.5 Offer closing date
Friday October 23, 2020
4C.6 Announcement of results
Wednesday October 28, 2020
4C.7 +Issue date
Friday October 30, 2020
Part 4D - Listing Rule requirements
4D.1 Does the offer under the +securities purchase plan meet all of the requirements of listing rule 7.2 exception 5 or do you have a waiver from those requirements?
Yes
Part 4E - Fees and expenses
4E.1 Will there be a lead manager or broker to the proposed offer? No
4E.2 Is the proposed offer to be underwritten? No
4E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission?
No
4E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer
Nil
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Proposed issue of securities
Part 4F - Further Information
4F.01 The purpose(s) for which the entity intends to use the cash raised by the proposed issue
To fund current exploration activities and working capital.
4F.1 Will the entity be changing its dividend/distribution policy if the proposed offer is successful? No
4F.2 Countries in which the entity has +security holders who will not be eligible to accept the proposed offer
Offer will only be accessable to Australian and New Zealand Security holders
4F.3 URL on the entity's website where investors can download information about the proposed offe
www.asqg.com.au
4F.4 Any other information the entity wishes to provide about the proposed offer
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Proposed issue of securities
Part 7 - Details of proposed placement or other issue
Part 7A - Conditions
7A.1 - Are any of the following approvals required for the placement or other type of issue?
+Security holder approval
Court approval
Lodgement of court order with +ASIC
ACCC approval
FIRB approval
Another approval/condition external to the entity
No
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)?
Existing class
Will the proposed issue of this +security include an offer of attaching +securities?
No
Details of +securities proposed to be issued
ASX +security code and description
ASQ : ORDINARY FULLY PAID
Number of +securities proposed to be issued
28,571,428
Offer price details
Are the +securities proposed to be issued being issued for a cash consideration?
Yes
In what currency is the cash consideration being paid?
AUD - Australian Dollar
What is the issue price per +security?
AUD 0.07000
Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class?
Yes
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Proposed issue of securities
Part 7C - Timetable
7C.1 Proposed +issue date
Friday October 2, 2020
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? No
7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?
Yes
7D.1b ( i ) How many +securities are proposed to be issued without security holder approval using the entity's 15% placement capacity under listing rule 7.1?
28,571,428
7D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)?
No
7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? No
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? Yes
7E.1a Who is the lead manager/broker?
Taylor Collison
7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?
Management fee of 2% and a Selling fee of 4%
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Proposed issue of securities
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
Nil
Part 7F - Further Information
7F.01 The purpose(s) for which the entity is issuing the securities
To fund current exploration activities and working capital
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
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