Armstrong Legal acquisition underway and raise is open for AFL holders....
Entitlement Offer
This Entitlement Offer Booklet relates to the Entitlement Offer. Under the Entitlement Offer, Eligible
Shareholders with a registered address in Australia, New Zealand or Singapore are entitled to subscribe
for 1 New Share for every 4 existing fully paid ordinary shares in the Company (Shares) held at 7.00pm
(Sydney time) on Wednesday, 6 March 2024 (Record Date), at the Offer Price of $0.15 per New Share.
The Offer Price represents a discount of:
• 13.79% to the TERP3 of $0.174 per Share; and
• 16.67% to the closing price of $0.18 per Share on 28 February 2024, being the last trading day
prior to the announcement of the Entitlement Offer.
New Shares issued under the Entitlement Offer will rank equally with Existing Shares.
The number of New Shares which you are entitled to subscribe for under the Entitlement Offer is set
out in your personalised Entitlement and Acceptance Form that will accompany this Entitlement Offer
Booklet when it is dispatched to Eligible Shareholders on Monday, 11 March 2024.
Under the Entitlement Offer, Eligible Shareholders that take up their full Entitlement may also apply for
Additional New Shares in excess of their Entitlement at the Offer Price (Shortfall Facility). Additional
New Shares will only be available under the Shortfall Facility to the extent that there are Entitlements
under the Entitlement Offer that are not taken up by Eligible Shareholders. Applications under the
Shortfall Facility will be subject to scale back if Eligible Shareholders apply for more Additional New
Shares than available under the Shortfall Facility (see Section 3.6 of this Entitlement Offer Booklet for
further information). The Directors (and their associates) are not entitled to participate in the Shortfall
Facility.
The Entitlement Offer is non-renounceable and therefore your Entitlements cannot be traded on ASX
or any other exchange, nor can they be privately transferred. This means that Eligible Shareholders
who do not take up their full Entitlement will receive no value for those Entitlements and their percentage
holding in the Company will be reduced.
SUMMARY OF ENTITLEMENT OFFER
Entitlement Offer
Ratio 1 New Share for every 4 Shares held
Offer Price $0.15 per New Share
Size Approximately 19.7 million New Shares
Gross proceeds Approximately $2.95 million
KEY DATES
Event Date
Announcement of the Entitlement Offer Thursday, 29 February 2024
Record Date for Entitlement Offer 7.00pm (Sydney time) on Wednesday,
6 March 2024
Despatch of Entitlement Offer Booklets and Entitlement and
Acceptance Forms to Eligible Shareholders
Entitlement Offer opens
Monday, 11 March 2024
Entitlement Offer closes (Closing Date) 5.00pm (Sydney time) on Thursday, 21
March 2024
Settlement of Entitlement Offer Tuesday, 26 March 2024
Allotment of New Shares (Issue Date) Tuesday, 26 March 2024
New Shares issued under the Entitlement Offer commence
trading on ASX on a normal settlement basis
Wednesday, 27 March 2024
Despatch of holding statements in respect of New Shares
issued under the Entitlement Offer
Thursday, 28 March 2024
HELD (but not on Straw)
