REG - 88 Energy Limited - Notice of AGM and Proposed Capital Consolidation

88 EnergyAnnouncement

04/04/2025 07:00

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RNS Number : 6951D  88 Energy Limited  04 April 2025

4 April 2025

88 Energy Limited

 Notice of AGM

and

Proposed Capital Consolidation

88 Energy Limited (ASX & AIM: 88E) ("88 Energy" or the "Company") is
pleased to confirm that a notice ("Notice") of annual general meeting of the
Company (the "AGM") has been lodged to convene the AGM, which will be held on
6 May 2025 at 10:00am (AWST) at: Quest Kings Park, 54 Kings Park Road, Perth,
WA, 6005.

At the AGM the Company is proposing five resolutions, further details of which
are set out in the Notice of AGM, which is available on the Company's website:
www.88energy.com (http://www.88energy.com) .

Resolution 5 proposes that Shareholders approve the consolidation of the
issued share capital of the Company on a 25:1 basis (the "Consolidation"),
such that every twenty-five (25) Shares, Depositary Interests, Options,
Performance Rights or Warrants are consolidated into one (1) Share, Depositary
Interest, Option, Performance Right or Warrant, respectively.

For Depositary Interests ("DIs"), which represent ordinary shares of the
Company ("Shares"), and which are admitted to trading on AIM, the proposed
timetable for the Consolidation is expected to be as follows:

 Action                                                                          Date
 Company announces Consolidation (using an Appendix 3A.3 on ASX).                04-Apr-25
 Company sends out the Notice of Meeting.                                        04-Apr-25
 Shareholders pass Resolution 5 to approve the Consolidation.                    06-May-25
 Company announces Effective Date of Consolidation.                              06-May-25
 Effective Date of Consolidation.                                                06-May-25
 Last day for pre-Consolidation trading.                                         07-May-25
 Last day to reposition securities between the share and DI registers on a       07-May-25
 pre-Consolidation basis
 Post-Consolidation trading commences on a deferred settlement basis.            08-May-25
 Suspension of Admission to Trading on AIM (7.30am)                              09-May-25
 ISIN disabled in CREST for DIs                                                  09-May-25
 Record Date.                                                                    09-May-25
 Last day for the Company to register transfers on a pre-Consolidation basis.    09-May-25
 First day for the Company to update its register and send holding statements    12-May-25
 to security holders reflecting the change in the number of Securities they
 hold.
 CRSDN transactions keyed against all CREST holders - Euroclear to reduce        12-May-25
 positions
 Ex-Date and Restoration of Dealings in the DIs, now representing Consolidated   13-May-25
 Shares, on AIM on Existing ISIN
 CREST Accounts Credited with DIs now representing revised number of             13-May-25
 Consolidated Shares
 Last day for the Company to update its register and to send holding statements  16-May-25
 to security holders reflecting the change in the number of Securities they
 hold and to notify ASX that this has occurred.

Further information on the Consolidation is set out in the Notice of AGM.

To avoid market confusion and potentially unsettled trades at the Record Date,
if resolution 5 is passed at the AGM, it is expected that trading in the
Company's DIs on AIM will be temporarily suspended at 7.30am on 9 May 2025,
with the restoration of trading of the DIs on AIM expected to occur at 7:30am
on 13 May 2025.

A further announcement will be made regarding the Company's new total number
of Shares in issue and voting rights should the requisite resolutions be
passed at the AGM and the consolidation of capital proceeds. It is expected
that fractional entitlements to a Security resulting from the Consolidation
will rounded down to the nearest whole Security.

Shareholders are encouraged to lodge a directed proxy form prior to the AGM.

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                                      Tel: +44 (0)131 220 6939
 Pearl Kellie

 

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