To view the PDF file, sign up for a MySharenet subscription.

ORION MINERALS LIMITED - Appendix 3B: Proposed Issue of Securities

Release Date: 07/08/2020 08:59
Code(s): ORN     PDF:  
Wrap Text
Appendix 3B: Proposed Issue of Securities

Orion Minerals Limited
Incorporated in the Commonwealth of Australia
Australian Company Number 098 939 274
ASX share code: ORN
JSE share code: ORN
ISIN: AU000000ORN1
(“Orion” or “the Company”)


Appendix 3B: Proposed Issue of Securities


Announcement Summary

    Entity name
    ORION MINERALS LTD

    Announcement Type
    New announcement

    Date of this announcement
    Friday August 7, 2020

    The Proposed issue is:
    A placement or other type of issue


    Total number of +securities proposed to be issued for a placement or other type of issue

    ASX +security code                    +Security description                Maximum Number of
                                                                               +securities to be issued

    ORN                                   ORDINARY FULLY PAID                  122,075,745




    Proposed +issue date
    Wednesday September 30, 2020


    Refer to next page for full details of the announcement


Part 1 – Entity and announcement details


    1.1 Name of +Entity
    ORION MINERALS 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
    ACN                                                    098939274

    1.3 ASX issuer code
    ORN

    1.4 The announcement is
    New announcement

    1.5 Date of this announcement
    Friday August 7, 2020

    1.6 The Proposed issue is:
    A placement or other type of issue



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
    Yes

    7A.1a Conditions

    Approval/Condition         Date for determination Is the date estimated or        ** Approval
                                                      actual?                         received/condition met?
    +Security holder approval Wednesday September 30, Estimated
                              2020


    Comments




    Approval/Condition         Date for determination      Is the date estimated or   ** Approval
                                                           actual?                    received/condition met?
    FIRB approval              Thursday August 20, 2020    Estimated



    Comments


Part 7B – Issue details

    Is the proposed security a 'New class' (+securities in a Will the proposed issue of this +security include an
    class that is not yet quoted or recorded by ASX)              offer of attaching +securities?
    or an 'Existing class' (additional securities in a class that No
    is already quoted or recorded by ASX)?
    Existing class

Details of +securities proposed to be issued

    ASX +security code and description
    ORN : ORDINARY FULLY PAID

    Number of +securities proposed to be issued
    122,075,745


    Offer price details

    Are the +securities proposed to be issued being issued for a cash consideration?
    No


    Please describe the consideration being provided for the +securities
    On 14 May 2020, Orion announced that it had entered into a $1.0M loan facility with Tembo Capital
    Mining Fund II LP (Tembo) (increased to $2.0M on 29 June 2020) (Loan Facility).

    An estimated $2.1M of the $2.4M payable by Tembo in connection with the issue of Shares to Tembo
    under Tranche 2 of the placement (as announced to the ASX on 7 August 2020) will be applied to
    reducing the amount re-payable to Tembo under the Loan Facility, at a deemed issue price of 1.7 cents
    per Share, being the same price paid by all investors under the placement. This estimated amount
    assumes that a shareholder meeting is held on or about 30 September 2020.

    Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities
    2,075,287.000000

    Will these +securities rank equally in all respects from their issue date with the existing issued +securities in
    that class?
    Yes



Part 7C – Timetable


    7C.1 Proposed +issue date
    Wednesday September 30, 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?
    Yes

    7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1
    Wednesday September 30, 2020

    7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue?
    Yes

    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?
    No

    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


Part 7F – Further Information

    7F.01 The purpose(s) for which the entity is issuing the securities
    To fund the retirement of debt

    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

Date: 07-08-2020 08:59:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story