REG - 88 Energy Limited - Completion of Consolidation of Capital

88 EnergyAnnouncement

Mon 15:45

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RNS Number : 3144I  88 Energy Limited  12 May 2025

12 May 2025

88 Energy Limited

Completion of Consolidation of Capital

 

88 Energy Limited (ASX:88E, AIM:88E, OTC:EEENF) ("88 Energy" or the "Company")
wishes to advise, that following the completion of the consolidation of
capital on a one (1) share for every twenty-five (25) shares held basis as
approved by shareholders on 6 May 2025 (the "Consolidation"), the issued share
capital of the Company is now as follows:

 

                     Shares          Listed Options  Unlisted Options  Performance Rights  Warrants
 Pre-Consolidation   28,933,811,952  538,888,890     240,000,000       155,740,000         269,444,442
 Post-Consolidation  1,157,350,417   21,555,519      9,599,999         6,229,600           10,777,770

 

The following table sets out the effect of the Consolidation on the Options
currently on issue:

 Options                                                                         Pre-Consolidation  Post-Consolidation  Exercise Price post-Consolidation
 Listed Options exercisable at $0.0075 per share and expire 15 December 2026     538,888,890        21,555,519          $0.1875
 Unlisted Options with an exercise price of $0.02 and an expiry of 28 October    90,000,000         3,600,000           $0.50
 2025
 Unlisted Options with an exercise price of $0.02 and an expiry of 16 February   75,000,000         3,000,000           $0.50
 2026
 Unlisted Options with an exercise price of $0.0055 and an expiry of 6 May 2028  75,000,000         2,999,999           $0.1375

 

The following table summarises the effect of the Consolidation on the
Warrants:

 Warrants                                                                     Pre-Consolidation  Post-Consolidation  Conversion Price post-Consolidation
 Unlisted Warrants exercise price of £0.0039 and expiring 15 December 2026.   269,444,442        10,777,770          £0.0975

 

Further details on the Consolidation were announced on 4 April 2025.

 

Admission and Total Voting Rights:

 

An application has been made to the London Stock Exchange for the Post
Consolidation Shares to be admitted to trading on AIM. Admission is expected
to become effective in respect of, and dealings on AIM are expected to
commence in, all of the Post Consolidation Shares, at 8:00 a.m. on 13 May
2025.

 

Following the Consolidation, the Company has a total of 1,157,350,417 ordinary
shares on issue, all of which have voting rights. The figure of 1,157,350,417
ordinary shares may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change of their interest in, the Company.

 

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                Tel: +44 (0)20 7397 8900
 Derrick Lee                                      Tel: +44 (0)131 220 6939

 Pearl Kellie                                     Tel: +44 (0)131 220 9775

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

 

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