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88 Energy Limited
Share Issue/Capital Change • Jun 16, 2025
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Share Issue/Capital Change
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National Storage Mechanism | Additional information 
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:[email protected] |
|
| 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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