Ann: Hannans - Expansion to Major European EV Markets, page-51

ASX Listing Rule Chapter 11 covers Significant Transactions including Change to Activities. Item 11.1.3 under 'Proposed change to nature or scale of activities' says:
If ASX requires, the entity must meet the requirements in chapters 1 and 2 as if the entity were applying for admission to the official list.

Chapter 1 covers Requirements for ASX Listing. Condition 8 under Item 1.1 says:
There must be at least 300 non-affiliated security holders, each of whom holds a parcel of the main class of securities that are not restricted securities with a value of at least $2,000.

As such, I suggest the Company needs to obtain 300 shareholders applying for new shares through the capital raising to prove to the ASX there is a market and that shareholders are on board with the new activities of the Company.