Ann: Trading Halt, page-11

Company: Vintage Energy Limited
Code: VEN

Deal Summary:

Offer Price:

A$0.01 per New Share

Discount:

• Last price (25 March 2024) A$0.0160 37.5% discount
• 5 day VWAP A$0.0148 32.5% discount
• 10 day VWAP A$0.0154 34.9% discount
• 15 day VWAP A$0.0167 40.3% discount
• TERP A$0.0131 23.8% discount

Offer Details:

Offer to raise approximately A$8.0 million, through the issue of ~800.0 million new ordinary shares (“New Shares”) (representing ~92.0% of VEN’s currently issued capital), comprising:

• Placement to raise approximately A$1.3 million through the issue of ~130.5 million New Shares (representing ~15.0% of VEN’s currently issued capital) (“Institutional Placement”);
• An Accelerated Non-Renounceable Entitlement Offer to raise a minimum A$6.7 million (an issue of 1 New Share for every 1.3 existing shares) through the issue of ~669.5 million New Shares (representing ~77.0% of VEN’s currently issued capital);
  • An Accelerated Institutional Entitlement Offer (“Institutional Entitlement Offer”) including a bookbuild offering of shares equal in number to those not taken up by eligible institutional securityholders under the Institutional Entitlement Offer and the entitlements of ineligible securityholders
  • A retail entitlement offer (“Retail Entitlement Offer”)
• The Offer is intended to be fully underwritten

Use of Proceeds:

• Drilling at Odin-2 and Odin-3
• Perforate and complete one well
• Offer costs and working capital