REG - 88 Energy Limited - Small Holding Share Sale Facility

88 EnergyAnnouncement

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RNS Number : 9756M  88 Energy Limited  16 June 2025

16 June 2025

 

88 Energy Limited

 

Small Holding Share Sale Facility

 

88 Energy Limited (ASX: 88E) ("88 Energy" or the "Company") is pleased to
announce that it has established a Small Holding Sale Facility (Facility) for
holders of "Less than Marketable Parcels" of the Company's shares.

 

The Company is providing the Facility to allow smaller shareholders the
opportunity to sell their shares without having to use a broker or pay
brokerage fees.

 

The Company values all of its shareholders; however, it incurs significant
administration costs maintaining such a large number of Less than Marketable
Parcels. By facilitating this sale, the Company hopes to significantly reduce
the administrative costs associated with maintaining a large number of very
small holdings.

 

The ASX Listing Rules define a Less than Marketable Parcel as those with a
market value of less than A$500. As at 5:00pm (AWST) on 13 June 2025 (Facility
Record Date), a Less than Marketable Parcel of shares is a holding comprised
of 21,739 or fewer shares, based on the Company's closing share price of
$0.023 on the Facility Record Date.

 

The Company has approximately 12,113 shareholders of which approximately 8,329
hold a Less than Marketable Parcel (Minority Members). These shareholders in
aggregate represent approximately 5.64% of all issued shares.

 

If Minority Members wish to sell their shares through this facility, they do
not have to take any action. If Minority Members do not wish to sell their
shares through this facility, they must complete and return the Notice of
Retention Form to the Company's share registry, Computershare by 5.00pm (AWST)
on 30 July 2025.

 

The Facility is not available to those shareholders who are residents of the
United Kingdom, and it is not available to persons who hold an interest in the
Company's shares via depositary interests in CREST.

 

A copy of the letter and the Notice of Retention that is currently being
prepared by the Company will be released to ASX and mailed to eligible
Minority Members by no later than 18 June 2025. If you have any queries,
please contact Computershare on 1300 850 505 (within Australia) and +613 9415
4000 (outside Australia) between the hours of 8:30 AM to 5:00 PM (AEST) Monday
to Friday.

 

Euroz Hartleys Limited has been appointed as broker for shares sold under the
Facility. Following the disposal of Less than Marketable Parcel shares, the
cash proceeds of each sale shall be forwarded to Minority Members whose shares
have been sold as soon as possible. The Company will pay the transaction costs
of shareholders who use the Facility to sell their shares, excluding tax
consequences from the sale which remain the shareholder's responsibility.

 

Indicative timetable

 

The indicative key dates for the Small Holding Sale Facility are outlined
below.

 Event                                                    Date
 Record Date for the Facility                             5.00pm (AWST) on Friday, 13 June 2025
 Announcement to ASX Sale Facility                        Monday, 16 June 2025
 Letters sent to holders of Less than Marketable Parcels  Wednesday, 18 June 2025
 Closing Date for receipt of Share Retention Forms        5.00pm (AWST) on Wednesday, 30 July 2025

 

 

 

This announcement has been authorised by the Board.

 

 

Media and Investor Relations:

 

 88 Energy Ltd

 Ashley Gilbert, Managing Director

 Tel: +61 (0)8 9485 0990

 Email:investor-relations@88energy.com

 Fivemark Partners, Investor and Media Relations
 Michael Vaughan                                  Tel: +61 (0)422 602 720

 EurozHartleys Ltd
 Dale Bryan                                       Tel: +61 (0)8 9268 2829

 Cavendish Capital Markets Limited
 Derrick Lee / Pearl Kellie                       Tel: +44 (0)131 220 6939

 Hannam & Partners

 Leif Powis / Neil Passmore                       Tel: +44 (0) 207 907 8500

 

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