PRice being held down, page-223

First 223 Last

Share
Profile

Follow
J L

1,904 Posts.

177

20/04/21

22:03

Post #: 52605074
Share

Originally posted by Confuzed1: ↑

The ASX has a complex set of rules wrt raising more capital, particularly if it is more than 15% of it's capital.
ASX Listing Rules Chapter 7 - Changes in capital and new ...
www.asx.com.au/documents/rules/Chapter07.pdf
ASX before finalising them. This chapter also contains rules that apply to an issue of + securities in a different entity. Timetables relating to changes in capital are in Appendix 7A. New issues Issues exceeding 15% of capital 7.1 +Subject to rules 7.1A and 7.1B, without the approval of the holders of its ordinary securities, an + entity must not issue or agree to issue more equity securities ...

7.4 requires Share Holders to approve it hence the Notice.

Seems like the $18M is being raised to see LCK through to the end of 2023 and may be called up in 2 extra lots (one of $6M has already been put into LCK). See the Agreement-

"(b) Use of funds: In accordance with the Agreement, the Company must use the funds received from the Investor for general corporate and working capital purposes that are reasonable in light of the nature of the Company’s business at the time of use.The Company intends to use the funds to progress the development of the Company’s flagship Leigh CreekEnergy Project (LCEP) through the next phases of the commercial pathway, including geotechnical evaluation and exploration and monitoring drilling of Petroleum Production Licence (PPL) 269. The Company also intends to use the funds received to progress activities for Leigh Creek Oil & Gas operations, undertake business development activities, along with general corporate activities and for general working capital".

Have not looked at the actual voting stuff yet though. Will do that soon.

Expand

Mate, I think you are struggling a bit here. This is not advice, just my opinion. Anyone who votes this down has a death wish for the company. J L.

LCK Price at posting: 16.5¢ Sentiment: None Disclosure: Held
2 Upvote

1 Great analysis

Reply

Top Stories

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

AR3

Overland drilling proves promising for Australian Rare Earths' uranium hopes

3DA

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

Trump is President Again: What Does This Mean for Crypto?

CPV

ClearVue inks deal with UK heated glass player to combine solar tech with its offering

There are more pages in this discussion • 74 more messages in this thread...

First 223 Last

Add NRZ (ASX) to my watchlist

(20min delay)
Last 0.4¢		Change 0.000(0.00%)		Mkt cap ! $8.724M

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

PRice being held down, page-223

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Overland drilling proves promising for Australian Rare Earths' uranium hopes

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

Trump is President Again: What Does This Mean for Crypto?

ClearVue inks deal with UK heated glass player to combine solar tech with its offering

Featured News

Featured News

PRice being held down, page-223

Top Stories

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Overland drilling proves promising for Australian Rare Earths' uranium hopes

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

Trump is President Again: What Does This Mean for Crypto?

ClearVue inks deal with UK heated glass player to combine solar tech with its offering

Featured News

Featured News