Ann: Application for quotation of securities - IMM, page-6

I plugged both docs into OpenAI. Here the analysis:

✅ Document 1: Conversion of Convertible Notes

[File: 4cca40a473e63ea8d387c8f7ca4a1da9.pdf]

• Converted Instrument: Convertible Notes (ASX: IMMAN)

• Total Converted: 859,427 notes

• Resulting Shares Issued: 7,441,304 ordinary shares (ASX: IMM)

• Conversion Price: AUD $0.15 per share

• Conversion Date: July 17, 2025

• Issue Date of Shares: July 18, 2025

• Remaining Convertible Notes Outstanding: Zero

• Post-transaction Quoted Shares: 1,467,830,879 IMM ordinary shares

This filing confirms that all outstanding convertible notes have now been fully converted to equity.

✅ Document 2: Conversion of Options

[File: 860d8ab027ed1eb84114647506366b60.pdf]

• Converted Instrument: Options (ASX: IMMAL, expiring Aug 4, 2025, strike price $0.248)

• Total Converted: 847,600 options

• Resulting Shares Issued: 33,904 ordinary shares

• Conversion Price: AUD $0.25 per share

• Conversion Date: July 17, 2025

• Issue Date of Shares: July 18, 2025

• Remaining Options Outstanding (IMMAL): Zero

• Post-transaction Quoted Shares: 1,460,423,479 IMM ordinary shares
  (Note: discrepancy in quoted shares vs. first doc likely due to timing of filings)

Key Takeaways & Implications

1. Full Conversion

Both all outstanding convertible notes (IMMAN) and all expiring options (IMMAL) have now been converted. As of July 18, 2025, none remain on the books.

2. Simplified Capital Structure

With both the convertible notes and these options fully exercised, Immutep has significantly cleaned up its capital structure, likely:

• In preparation for a major corporate event (e.g., acquisition, public offering, or financing), or

• To remove overhang and reduce dilution uncertainty.

3. Capital Raised

• Through the conversion of notes: effectively a non-cash event, assuming prior issuance was debt-backed.

• Through option exercise: raises some cash (at $0.25 per share for 33,904 shares ≈ AUD $8,476).

4. Outstanding Equity Instruments Left

• Only performance rights (IMMAM) remain unquoted: 17,448,176

• No more convertible notes or options listed as outstanding.

Summary

Immutep has converted all of its outstanding convertible notes and options into ordinary shares, significantly streamlining its capital structure. This move removes any convertible debt overhang and signals a possible upcoming strategic event or stronger positioning for market valuation.