Avira Resources Limited (ASX: AVW) (Avira or the Company) advises that, subject to obtaining shareholder approval at an upcoming general meeting, it intends to conduct an offer of a new class of options (New Options).
The offer of New Options (Options Offer) will be made pursuant to a prospectus (Prospectus). All holders of the Company's existing class of options that expire on 31 December 2024 (AVWOA Options) with a registered address in Australia or New Zealand will have priority to apply for New Options under the Options Offer (Priority Offer).
The director of Avira with a relevant interest in AVWOA Options (James Robinson) intends to apply for his full allocation under the Priority Offer. This related party participation is subject to separate shareholder approval. Any New Options not applied for under the Priority Offer will be offered to other applicants at the discretion of the directors of the Company. In addition, the Company proposes to seek shareholder approval to consolidate its capital on a 20:1 basis (Consolidation).
The Options Offer, which will also be subject to completion of the Consolidation, is for an offer of 48,435,500 New Options on a postConsolidation basis (or 968,710,000 New Options on a preConsolidation basis) with each holder under the Priority Offer eligible to apply for 1 New Option (on a post-Consolidation basis) for every 20 AVWOA Options held on 31 December 2024, subject to rounding of individual holdings for the effect of the Consolidation (or 1 New Option on a pre-Consolidation basis for every 1 AVWOA Option held on 31 December 2024). The New Options (on a post-Consolidation basis) are proposed to have an issue price of $0.001 each, an exercise price of $0.015 each and an expiry date of 30 June 2027. The Options Offer (assuming full subscription) will raise approximately $48,435 (before costs).
The Company intends to apply for quotation of the New Options.
Contact:
Tel: + 61 8 9463 2463
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