Environment Clean Technologies Limited (ECT or Company), advises the ASX has granted the Company’s request for a waiver of Listing Rule 6.24 in relation to option expiry notices.
Paragraph 6.1 of Appendix 6A ordinarily requires such notices to be printed and mailed to shareholders. This ASX announcement has been determined to be sufficient to satisfy that requirement, as follows:
- This notice applies to the 846,088,751 listed options (ASX code ECTOC) exercisable on or before 31 July 2019 (Option);
- Each Option is exercisable to acquire one fully paid ordinary ECT share (ASX code: ECT) at $0.045;
- The Options were issued at nil consideration to the holders of ordinary shares on 2 August 2017 on the basis of 1 Option for every 4 fully paid ordinary shares;
- The due date for payment to exercise the Options is 5.00 pm (AEST) on 31 July 2019;
- If you (as Option holder) do not elect to exercise your Options by 5.00 pm on 31 July 2019, your options will lapse and all rights under the Options will cease;
- Quotation of the Options will cease at close of trading on 25 July 2019, being 4 business day before 31 July 2019;
- The Company has been in voluntary suspension since 12 March 2019;
- The last market sale price on 12 March 2019 (being the last trading day prior to the date of this notice) of the Company’s fully paid ordinary shares, into which the Options are exercisable, was $0.013;
- The highest and lowest market sale price of the Company’s fully paid ordinary shares during the past 6 months was $0.013 on 12 March 2019 and $0.009 on 24 December 2018 respectively;
- No underwriting agreement exists in respect of the Options; and
- If the market price of the Company’s share price exceeds $0.034 before the Option expiry date, the Company will immediately send an option expiry notice to the holders of the options.
[sent electronically without signature]