ENCOUNTER RESOURCES LIMITED — Share Issue/Capital Change 2021

Nov 29, 2021

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Announcement Summary

Entity name

ENCOUNTER RESOURCES LIMITED

Date of this announcement

Tuesday November 30, 2021

The +securities the subject of this notification are:

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+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
New class - code	Unlisted options exercisable at $0.224 each and	3,830,000	29/11/2021
to be confirmed	expiring 28 November 2025

Refer to next page for full details of the announcement

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 1 - Entity and announcement details

1.1 Name of entity

ENCOUNTER RESOURCES LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ABN

Registration number

47109815796

1.3 ASX issuer code

ENR

1.4 The announcement is

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New announcement

1.5 Date of this announcement

30/11/2021

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Part 2 - Issue details

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2.1 The +securities the subject of this notification are:

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+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

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does not have an existing ASX security code ("new class")

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Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX in an Appendix 3B

ASX +security code New class - code to be confirmed	+Security description Unlisted options exercisable at $0.224 each and expiring 28 November 2025
+Security type	ISIN code
Options

Date the +securities the subject of this notification were issued

29/11/2021

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

Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP	Name of registered holder	Number of +securities
Paul Chapman	Paul Chapman	630,000
Philip Crutchfield	Philip Crutchfield	630,000
Will Robinson	Will Robinson	450,000
Peter Bewick	Solvista PL	180,000
Jon Hronsky	Jon Hronsky	180,000

Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

Refer 2021 AGM notice https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02442460-6A1058787?access_token=8 3ff96335c2d45a094df02a206a39ff4

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Options Details

+Security currency

AUD - Australian Dollar

Exercise price Expiry date AUD 0.22400000 28/11/2025

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

Other

Description

Ordinary fully paid shares (ENR)

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms

Refer 2021 AGM notice https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02442460-6A1058787?access_token=8 3ff96335c2d45a094df02a206a39ff4

Any other information the entity wishes to provide about the +securities the subject of this notification

2,070,000 options issued to directors of the Company following shareholder approval at the 2021 AGM on 26 November 2021 and 1,760,000 options issued to employees pursuant to the terms and conditions of the Company's Employee Share and Option Plan,

Issue details

Number of +securities

3,830,000

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

	Total number of
ASX +security code and description	+securities on issue
ENR : ORDINARY FULLY PAID	316,816,826
4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted	on ASX)
	Total number of
ASX +security code and description	+securities on issue
ENRAO : OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES	4,800,000
ENRAB : OPTION EXPIRING 26-NOV-2024 EX $0.222	2,450,000
ENRAQ : OPTION EXPIRING 30-JUN-2024 EX $0.182	650,000
ENRAP : OPTION EXPIRING 31-OCT-2023 EX $0.162	5,050,000
ENRAS : OPTION EXPIRING 30-APR-2025 EX $0.212	1,000,000
New class - code to be confirmed : Unlisted options exercisable at $0.224 each and expiring	3,830,000
28 November 2025

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? Yes

5.1a Select the number of the applicable exception in Listing Rule 7.2

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