Investor News

Non-renounceable Entitlement Offer Extension of Closing Date

Environmental Clean Technologies Limited (ASX: ECT) (ECT or Company) advises that it has resolved to extend the Closing Date for the current non-renounceable entitlement offer.

As announced via the ASX on 6 December 2019, the Company is making a one-for-one pro rata non-renounceable entitlement offer (Offer) of up to 4,800,516,393 new fully paid ordinary shares (new shares) at an issue price of 0.10 cents to raise up to $4.8 million before costs.

Following recent feedback from a range of shareholders regarding confusion over the application process, and further to the Company’s announcement of 24 January 2020 that sought to clarify the application process, the Closing Date has been extended by a further 11 days to Monday 10 February 2020. The revised indicative timetable is as follows:

Item Time
ECT announces the Entitlement Offer and gives a completed Appendix 3B to ASX. Monday 9 December 2019
Ex-date – Shares trade ex-Entitlement (Ex-Date) Wednesday 11 December 2019
Record date to identify Eligible Shareholders Thursday 12 December 2019
Dispatch the Prospectus and personalised entitlement and acceptance forms.
Announcement of dispatch Offer Opening Date
Tuesday 17 December 2019
Last day to extend the Offer Closing Date. Tuesday 4 February 2020
Offer closes at 5 pm Monday 10 February 2020
If agreed by ASX, securities quoted on a deferred settlement basis from market open Tuesday 11 February 2020
Announcement of results of issue Thursday 13 February 2020
Last day to issue the Shares and Options taken up in the Offer. The Company to lodge an Appendix 2A with ASX applying for quotation of the Shares and Options Monday 17 February 2020

The above dates are indicative only and subject to change. The Company reserves the right, subject to the Corporations Act and Listing Rules, to change any date including further extending the Closing Date of the Offer or withdrawing the Offer without notice. Any extension of the Closing Date will have a consequential effect on the issue date of the New Shares.

Eligible shareholder will need to ensure their application monies for their entitlement and any shortfall shares are received by Automic Registry Services Pty Ltd by no later than 5pm (AEDT) on 10 February 2020.

The Prospectus for the Offer has been sent to Eligible Shareholders and is also available on both the ASX and Company websites (see below). Shareholders wishing to participate in the offer should read the Prospectus and will need to either:

  • Complete the personalised application form and send it along with payment to Automic Registry Services, or;
  • Make electronic payment using the BPay details in the personalised application form.

If making payment via BPay shareholders DO NOT need to send the application form.

For further information, contact:

Glenn Fozard – Chairman           [email protected]