Ann: Proposed issue of securities - TMK, page-2

3.1 Offer
Under this Prospectus, the Company invites investors identified by the Directors to apply for up to 50,000 Shares at an issue price of $0.02 per Share to raise up to $1,000 (before expenses).
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3.2 ObjectiveThe Company is seeking to raise only a nominal amount of $1,000 under this Prospectus and, accordingly, the purpose of this Prospectus is not to raise capital.
The primary purpose of this Prospectus is to remove any trading restrictions that may have attached to Shares issued by the Company prior to the Closing Date.
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4.1 Purpose of the OfferThe prmary purpose of this Prospectus is to remove any trading restrictions that may have attached to Shares issued by the Company prior to the Closing Date (including prior to the date of this Prospectus). Specifically, Shares will be issued from the conversion of the following Performance Shares and Performance Rights (if the holders elect to convert them) due to the satisfaction of the following milestones (refer ASX Announcement dated 9 November 2022):
(a) 400,000,000 Class C Performance Shares vested and became convertible into fully paid ordinary shares upon certification of at least 100 bcf 2C PRMS resource within the Gurvantes XXXV Project area within five years from their date of issue (Class C Performance Shares);
(b) 49,687,500 Class C Performance Rights which have the same performance hurdle as the Class C Performance Shares noted above (Class C Performance Rights).
In addition, the following Performance Shares and Performance Rights may convert prior to the Closing Date:
(a) 600,000,000 Class A Performance Shares which shall vest and be convertible into fully paid ordinary shares upon both of the following occurringi) the volume weighted average price of TMK shares being equal or greater than 2 cents for 20 trading days; and(ii) commencement of a drilling program within the Gurvantes XXXV Project area within 3 years from the date of issue,(Class A Performance Shares); and
(b) 74,531,250 Class A Performance Rights which have the same performance hurdles as the Class A Performance Shares noted above (Class A Performance Rights).
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means per eligible share holders may apply $0.02 $1000, 50,000 shares on purpose of 4.1.
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