ASTRON LIMITED — Capital/Financing Update 2022

Dec 18, 2022

Proposed issue of securities

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Announcement Summary

Entity name

ASTRON CORPORATION LIMITED

Announcement Type

New announcement

Date of this announcement

19/12/2022

The Proposed issue is:

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A placement or other type of issue

Total number of +securities proposed to be issued for a placement or other type of issue

		Maximum Number of
ASX +security code	+Security description	+securities to be issued
New class-code to be	ATRAA Options Expiring 30/11/2024 EX$0.375	800,000
confirmed
New class-code to be	ATRAD Options Expiring 22/11/2025 EX$0.7725	800,000
confirmed
New class-code to be	ATRAC Options Expiring 13/12/2024 EX$0.63	2,300,000
confirmed
New class-code to be	ATRAB Options Expiring 30/11/2024 EX$0.72	800,000
confirmed
New class-code to be	ATRAE Options Expiring 1/10/2025 EX$0.90	600,000
confirmed
ATR	CHESS DEPOSITARY INTERESTS 1:1	4,427,223

Proposed +issue date

21/12/2022

Refer to next page for full details of the announcement

Proposed issue of securities

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Proposed issue of securities

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Part 1 - Entity and announcement details

1.1 Name of +Entity

ASTRON CORPORATION LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type

ARBN

Registration Number 154924553

1.3 ASX issuer code

ATR

1.4 The announcement is

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New announcement

1.5 Date of this announcement

19/12/2022

1.6 The Proposed issue is:

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A placement or other type of issue

Proposed issue of securities

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Proposed issue of securities

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Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 Do any external approvals need to be obtained or other conditions satisfied before the placement or other type of issue can proceed on an unconditional basis? Yes

7A.1a Conditions

Approval/Condition Date for determination Is the date estimated or ** Approval actual? received/condition met? +Security holder approval 22/11/2022 Actual Yes

Comments

Part 7B - Issue details

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class

Will the proposed issue of this +security include an offer of attaching +securities? No

Details of +securities proposed to be issued

ASX +security code and description

ATR : CHESS DEPOSITARY INTERESTS 1:1

Number of +securities proposed to be issued

4,427,223

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration? Yes

Proposed issue of securities

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Proposed issue of securities

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Proposed issue of securities
In what currency is the cash	What is the issue price per
consideration being paid?	+security?
AUD - Australian Dollar	AUD 0.54000
Will these +securities rank equally in all respects from their issue date with
the existing issued +securities in that class?
Yes
Is the proposed security a 'New	Will the proposed issue of this
class' (+securities in a class that is	+security include an offer of
not yet quoted or recorded by ASX)	attaching +securities?
or an 'Existing class' (additional	No
securities in a class that is already
quoted or recorded by ASX)?
New class
Details of +securities proposed to be issued
ISIN Code (if Issuer is a foreign company and +securities are non CDIs)
Have you received confirmation from	Will the entity be seeking quotation
ASX that the terms of the proposed	of the 'new' class of +securities on
+securities are appropriate and	ASX?
equitable under listing rule 6.1?	No
No
ASX +security code New class-code to be confirmed	+Security description ATRAA Options Expiring 30/11/2024 EX$0.375
+Security type
Options
Number of +securities proposed to be	issued
800,000
Offer price details
Are the +securities proposed to be issued being issued for a cash consideration?
No
Please describe the consideration being provided for the +securities Issued under the Employee Share Option Plan
Please provide an estimate of the AUD equivalent of the consideration being
provided for the +securities

Proposed issue of securities

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Proposed issue of securities

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Will all the +securities issued in this class rank equally in all respects from their issue date?

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Yes

	Options details
	+Security currency	Exercise price	Expiry date
	AUD - Australian Dollar	AUD 0.3750	30/11/2024
	Details of the type of +security that will be issued if the option is exercised
	ATR : CHESS DEPOSITARY INTERESTS 1:1
	Number of securities that will be issued if the option is exercised
	800000
	Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities
	proposed to be issued or provide the information by separate announcement. https://www.astronlimited.com.au/wp-content/uploads/2022/10/221028-ATR-AGM-NoM.pdf
	Is the proposed security a 'New	Will the proposed issue of this
	class' (+securities in a class that is	+security include an offer of
	not yet quoted or recorded by ASX)	attaching +securities?
	or an 'Existing class' (additional	No
	securities in a class that is already
	quoted or recorded by ASX)?
	New class
	Details of +securities proposed to be issued
	ISIN Code (if Issuer is a foreign company and +securities are non CDIs)
	Have you received confirmation from	Will the entity be seeking quotation
	ASX that the terms of the proposed	of the 'new' class of +securities on
	+securities are appropriate and	ASX?
	equitable under listing rule 6.1?	No
	No
	ASX +security code New class-code to be confirmed	+Security description ATRAD Options Expiring 22/11/2025 EX$0.7725
	+Security type
	Options

Number of +securities proposed to be issued

800,000

Proposed issue of securities

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Proposed issue of securities

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Offer price details

Are the +securities proposed to be issued being issued for a cash consideration?	Are the +securities proposed to be issued being issued for a cash consideration?
No
Please describe the consideration being provided for the +securities
Issues under Employee Share Option Plan
Please provide an estimate of the AUD equivalent of the consideration being
provided for the +securities
Will all the +securities issued in this class rank equally in all respects from
their issue date?
Yes
Options details
+Security currency Exercise price	Expiry date
AUD - Australian Dollar AUD 0.7725	22/11/2025
Details of the type of +security that will be issued if the option is exercised
ATR : CHESS DEPOSITARY INTERESTS 1:1
Number of securities that will be issued if the option is exercised
800000
Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities
proposed to be issued or provide the information by separate announcement. https://www.astronlimited.com.au/wp-content/uploads/2022/10/221028-ATR-AGM-NoM.pdf
Is the proposed security a 'New Will the proposed issue of this
class' (+securities in a class that is +security include an offer of
not yet quoted or recorded by ASX) attaching +securities?
or an 'Existing class' (additional No
securities in a class that is already
quoted or recorded by ASX)?
New class

Details of +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

Proposed issue of securities

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Proposed issue of securities

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Have you received confirmation from Will the entity be seeking quotation
ASX that the terms of the proposed of the 'new' class of +securities on
+securities are appropriate and ASX?
equitable under listing rule 6.1? No
No
ASX +security code +Security description
New class-code to be confirmed ATRAC Options Expiring 13/12/2024 EX$0.63
+Security type
Options
Number of +securities proposed to be issued
2,300,000
Offer price details
Are the +securities proposed to be issued being issued for a cash consideration?
No
Please describe the consideration being provided for the +securities
Issued under Employee Share Option Plan
Please provide an estimate of the AUD equivalent of the consideration being
provided for the +securities
Will all the +securities issued in this class rank equally in all respects from
their issue date?
Yes
Options details
+Security currency Exercise price Expiry date
AUD - Australian Dollar AUD 0.6300 13/12/2024
Details of the type of +security that will be issued if the option is exercised
ATR : CHESS DEPOSITARY INTERESTS 1:1
Number of securities that will be issued if the option is exercised
2,300,000
Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities
proposed to be issued or provide the information by separate announcement.
https://www.astronlimited.com.au/wp-content/uploads/2022/10/221028-ATR-AGM-NoM.pdf
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Proposed issue of securities

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Is the proposed security a 'New Will the proposed issue of this class' (+securities in a class that is +security include an offer of not yet quoted or recorded by ASX) attaching +securities? or an 'Existing class' (additional No securities in a class that is already quoted or recorded by ASX)? New class Details of +securities proposed to be issued ISIN Code (if Issuer is a foreign company and +securities are non CDIs) Have you received confirmation from Will the entity be seeking quotation ASX that the terms of the proposed of the 'new' class of +securities on +securities are appropriate and ASX? equitable under listing rule 6.1? No No ASX +security code +Security description New class-code to be confirmed ATRAB Options Expiring 30/11/2024 EX$0.72

+Security type

Options

Number of +securities proposed to be issued

800,000 Offer price details

Are the +securities proposed to be issued being issued for a cash consideration? No

Please describe the consideration being provided for the +securities

Issued under Employee Share Option Plan Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Options details

+Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.7200 30/11/2024

Proposed issue of securities

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Proposed issue of securities

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Details of the type of +security that will be issued if the option is exercised

ATR : CHESS DEPOSITARY INTERESTS 1:1

	Number of securities that will be issued if the option is exercised 800000	Number of securities that will be issued if the option is exercised 800000
	Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities
	proposed to be issued or provide the information by separate announcement. https://www.astronlimited.com.au/wp-content/uploads/2022/10/221028-ATR-AGM-NoM.pdf
	Is the proposed security a 'New	Will the proposed issue of this
	class' (+securities in a class that is	+security include an offer of
	not yet quoted or recorded by ASX)	attaching +securities?
	or an 'Existing class' (additional	No
	securities in a class that is already
	quoted or recorded by ASX)?
	New class
	Details of +securities proposed to be issued
	ISIN Code (if Issuer is a foreign company and +securities are non CDIs)
	Have you received confirmation from	Will the entity be seeking quotation
	ASX that the terms of the proposed	of the 'new' class of +securities on
	+securities are appropriate and	ASX?
	equitable under listing rule 6.1?	No
	No
	ASX +security code New class-code to be confirmed	+Security description ATRAE Options Expiring 1/10/2025 EX$0.90
	+Security type
	Options
	Number of +securities proposed to be issued
	600,000
	Offer price details
	Are the +securities proposed to be issued being issued for a cash consideration?
	No
	Please describe the consideration being provided for the +securities

Issued under Employee Share Option Plan

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities

Proposed issue of securities

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Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Options details
+Security currency Exercise price	Expiry date
AUD - Australian Dollar AUD 0.9000	1/10/2025
Details of the type of +security that will be issued if the option is exercised
ATR : CHESS DEPOSITARY INTERESTS 1:1
Number of securities that will be issued if the option is exercised
600000
Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities
proposed to be issued or provide the information by separate announcement. https://www.astronlimited.com.au/wp-content/uploads/2022/10/221028-ATR-AGM-NoM.pdf

Part 7C - Timetable 7C.1 Proposed +issue date 21/12/2022

Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? No

7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? No

7D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No

7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? Yes

7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules?

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No 7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No Part 7E - Fees and expenses 7E.1 Will there be a lead manager or broker to the proposed issue? No 7E.2 Is the proposed issue to be underwritten? No 7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue Part 7F - Further Information 7F.01 The purpose(s) for which the entity is issuing the securities Approvals and environmental studies for the Donald project, ongoing studies into geology, metallurgy and mining, further ongoing engineering studies, project management expenses and working capital and corporate costs. 7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No 7F.2 Any other information the entity wishes to provide about the proposed issue 7F.3 Any on-sale of the +securities proposed to be issued within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of: The publication of a cleansing notice under section 708A(5), 708AA(2)(f), 1012DA(5) or 1012DAA(2)(f)

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