ASTRON LIMITED — Capital/Financing Update 2022

Oct 27, 2022

Proposed issue of securities

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Announcement Summary

Entity name

ASTRON CORPORATION LIMITED

Announcement Type

New announcement

Date of this announcement

28/10/2022

The Proposed issue is:

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An offer of securities under a securities purchase plan

Total number of +securities proposed to be issued for an offer of securities under a securities purchase plan

		Maximum Number of
ASX +security code	+Security description	+securities to be issued
ATR	CHESS DEPOSITARY INTERESTS 1:1	5,555,556

+Record date

14/10/2022

Offer closing date

14/11/2022

+Issue date

21/11/2022

Refer to next page for full details of the announcement

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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

28/10/2022

1.6 The Proposed issue is:

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An offer of +securities under a +securities purchase plan

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Part 4 - Details of proposed offer under securities purchase plan

Part 4A - Conditions

4A.1 Do any external approvals need to be obtained or other conditions satisfied before the offer of +securities under the +securities purchase plan issue can proceed on an unconditional basis? No

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Part 4B - Offer details

Class or classes of +securities that will participate in the proposed issue and class or classes of +securities proposed to be issued

ASX +security code and description

ATR : CHESS DEPOSITARY INTERESTS 1:1

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

Maximum total number of those +securities that could be issued if all offers under the +securities purchase plan are accepted 5,555,556

Will the offer be conditional on applications for a minimum number of +securities being received or a minimum amount being raised (i.e. a minimum subscription condition)? No

Will the offer be conditional on applications for a maximum number of +securities being received or a maximum amount being raised (i.e. a maximum subscription condition)? Yes Describe the maximum subscription condition Maximum $3 million to be raised, subject to board discretion to accept over subscriptions

Will individual security holders be required to accept the offer for a minimum number or value of +securities (i.e. a minimum acceptance condition)? Yes Is the minimum acceptance unit based or dollar based? Dollar based ($) Please enter the minimum acceptance value $ 2,500 Will individual security holders be limited to accepting the offer for a maximum number or value of +securities (i.e. a maximum acceptance condition)? Yes Is the maximum acceptance unit based or dollar based? Dollar based ($)

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Please enter the maximum acceptance value

$ 30,000

		00
				available for this offer in number of securities or dollar value30,000d?hat is the offer price perecurity?UD 0.54000ailsffer is over-subscribed?nts
Describe all the applicable parcels available for this offer in number of securities or dollar value$2,500; $5,000; $10,000; $20,000; $30,000Offer price detailsHas the offer price been determined?In what currency will the offerbe made?AUD - Australian DollarWhat is the offer price per+security?AUD 0.54000Oversubscription & Scale back detailsWill a scale back be applied if the offer is over-subscribed?Describe the scale back arrangementsAt the discretion of the boardWill these +securities rank equally in all respects from their issue date with the existing issued+securities in that class?Part 4C - Timetable4C.1 Date of announcement of +security purchase plan17/10/20224C.2 +Record date14/10/20224C.3 Date on which offer documents will be made available to investors24/10/20224C.4 Offer open date24/10/20224C.5 Offer closing date14/11/20224C.7 +Issue date and last day for entity to announce results of +securitypurchase plan offer21/11/2022YesYesYes		ibe all th	e applicable parcels	available for this offer in number of securities or dollar value
	$2,50	0; $5,00	0; $10,000; $20,000; $	30,000
		price dehe offerat currende?Australiubscripscale baibe the s	tailsprice been determinecy will the offeran DollarW+sAtion & Scale back detck be applied if the ocale back arrangeme	d?hat is the offer price perecurity?UD 0.54000ailsffer is over-subscribed?nts
	At th	e discreti	on of the board
		metableDate of a2022Record2022Date on	nnouncement of +secdatewhich offer document	urity purchase plans will be made available to investors
4C.117/10/4C.2 +14/10/4C.324/10/4C.424/10/4C.514/11/4C.7 +purch21/11/
		2022Offer ope2022Offer clo2022Issue dase plan2022	n datesing dateate and last day for enoffer	tity to announce results of +security
		sue of s	curities	/ 7

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Part 4D - Listing Rule requirements

4D.1 Does the offer under the +securities purchase plan meet all of the requirements of listing rule 7.2 exception 5 or do you have a waiver from those requirements? Yes

Part 4E - Fees and expenses

4E.1 Will there be a lead manager or broker to the proposed offer? No

4E.2 Is the proposed offer to be underwritten? No

4E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission? No

4E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer

Part 4F - Further Information

4F.01 The purpose(s) for which the entity intends to use the cash raised by the proposed issue

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.

4F.1 Will the entity be changing its dividend/distribution policy if the proposed offer is successful? No

4F.2 Countries in which the entity has +security holders who will not be eligible to accept the proposed offer USA

4F.3 URL on the entity's website where investors can download information about the proposed offer https://www.astronlimited.com.au/wp-content/uploads/2022/10/221024-ATR-SPP-Booklet-1.pdf

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4F.4 Any other information the entity wishes to provide about the proposed offer

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