Australia's largest stock trading and investment forum Australia's #1 stock forum

AJQ

0.00%

10.0¢ armour energy limited

Ann: Proposed Amendments to Secured Amortising Notes, page-9

First 9 Last

Share
Profile

Follow
poor & confused

84 Posts.

8

16/04/22

14:44

Post #: 60880717
Share

Originally posted by poor & confused: ↑

Some very interesting details in the supporting documents.
1. Armour has sought to extend the Tribeca facility to September 2022 and have requested covenant relief
from Noteholders to September 2022 as Armour expects to complete the McArthur IPO before this date

2. McArthur NT and Armour Energy Limited shall enter into a further amended and restated EPSA
(Restated EPSA) under which the IPO Consideration for the Sale Interests is to be the issuance
of 160 million shares in McArthur OG (Acquisition); and
• Pursuant to the Restated EPSA, McArthur OG will undertake the issue/share split of existing
share capital resulting in Armour Energy Limited holding 160 million ordinary fully paid shares
in McArthur OG which are delineated into two equal tranches, namely:
• 80 million McArthur OG Shares (Tranche 1 Shares); and
• 80 million McArthur OG Shares (Tranche 2 Shares being the Distribution Shareholding).

3. Armour Energy Limited Distribution of Tranche 2 McArthur OG Shareholding
Following the receipt of the Demerger Transaction Approvals, Armour Energy Limited will transfer the
legal and registered ownership of the Distribution Shareholding to a special purpose vehicle (Prescribed
Holder).
The Prescribed Holder will hold the Distribution Shares as bare trustee for the benefit of the Eligible
Armour Energy Limited Distribution Shareholders. The Distribution Shareholding shall be subject to an
escrow period to be agreed with Morgans as the McArthur OG IPO Lead Manager of not less than sixmonths (Distribution Escrow).
Upon completion of (1) the McArthur OG IPO and (2) the Distribution Escrow, the Prescribed Holder will
distribute the Distribution Shareholding on a pro-rata basis to the Eligible Armour Energy Limited
Distribution Shareholders.

Bottom line
1. ipo sept quarter
2 armour get 160m mcarthur shares at ipo escrowed for 6 months or more
3. armour shareholders ( at time of distribution ) get 80 m shares distributed after minimum 6 months,company keeps balance

Expand

Correction to my post - have reread the announcement
Bottom line
1. ipo sept quarter - correct

2 armour get 160m mcarthur shares at ipo escrowed for 6 months or more - error get the shares pre ipo - 6 months escrow only applies to tranche 2. I believe the tranche1 shares will be split to create the ipo shares - SOMEONE WITH MORE KNOWLEDGE NEEDS TO CORRECT ME IF I AM WRONG IN MY REASONING DONT WANT TO MISLEAD

• 80 million McArthur OG Shares (Tranche 1 Shares); and• 80 million McArthur OG Shares (Tranche 2 Shares being the Distribution Shareholding).

3. armour shareholders ( at time of distribution ) get 80 m shares distributed after minimum 6 months

AJQ Price at posting: 1.1¢ Sentiment: Hold Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

With financials holding the fort, materials must step up with some heavy lifting to stimulate stocks

SS1

Sun Silver submits US$60M Silver Paste Funding Application to US DoE

Time for retail therapy buying in the shopping Scentre for hot stocks

End of FY is a time to juggle wins, losses and capital gains taxes

Eurozone-based companies find new ways to secure a regional lithium supply