DATAWORKS GROUP LIMITED — Capital/Financing Update 2020

Jul 26, 2020

Proposed issue of securities

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Announcement Summary

Entity name

IXUP LIMITED

Announcement Type

New announcement

Date of this announcement

Monday July 27, 2020

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
n/a	Unlisted options	8,000,000
IXU	ORDINARY FULLY PAID	150,000,000

Proposed +issue date

Tuesday September 15, 2020

Refer to next page for full details of the announcement

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Proposed issue of securities

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Part 1 - Entity and announcement details

1.1 Name of +Entity

IXUP 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.

1.2 Registered Number Type

ABN

Registration Number

85612182368

1.3 ASX issuer code

IXU

1.4 The announcement is

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New announcement

1.5 Date of this announcement

Monday July 27, 2020

1.6 The Proposed issue is:

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A placement or other type of issue

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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 - Are any of the following approvals required for the placement or other type of issue? +Security holder approval Court approval Lodgement of court order with +ASIC ACCC approval FIRB approval Another approval/condition external to the entity Yes

7A.1a Conditions

Approval/Condition Date for determination Is the date estimated or ** Approval actual? received/condition met? +Security holder approval Monday September 14, Estimated 2020

Comments

Part 7B - Issue details

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)? Existing class

Details of +securities proposed to be issued

ASX +security code and description

IXU : ORDINARY FULLY PAID

Number of +securities proposed to be issued

150,000,000

Offer price details

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

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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 0.01000

	Will these +securities rank equally in all respects from their issue date with	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 Unlisted options
	+Security type
	Options
	Number of +securities proposed to be issued
	8,000,000
	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

As part consideration payable to the Lead Manager of the Placement.

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

Options details
+Security currency Exercise price	Expiry date
AUD - Australian Dollar AUD 0.0200	Monday September 16, 2024
Details of the type of +security that will be issued if the option is exercised
IXU : ORDINARY FULLY PAID
Number of securities that will be issued if the option is exercised
One fully paid ordinary share (ASX:IXU)
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.
See ASX Announcement dated 27 July 2020 at www.investors.ixup.com/	Investor-Centre

Part 7C - Timetable

7C.1 Proposed +issue date

Tuesday September 15, 2020

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? Yes

7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1 Monday September 14, 2020

7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? No

7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No

7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No

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Part 7E - Fees and expenses

7E.1 Will there be a lead manager or broker to the proposed issue? Yes

7E.1a Who is the lead manager/broker?

Cygnet Capital Pty Limited

7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

6% (plus GST) of all funds raised under the Placement, not including the first $500,000 raised (being a total of up to $60,000 (plus GST)).

8,000,000 unlisted options (exercisable at $0.02 on or before the date that is four years from the date of issue), subject to shareholder approval.

7E.2 Is the proposed issue to be underwritten?

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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

Additional working capital and to pay for services rendered.

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

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