GBM RESOURCES LIMITED. — Share Issue/Capital Change 2019

Nov 24, 2019

Notification of Consolidation/Split

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Notification of Consolidation/Split

Announcement Summary

Entity name

GBM RESOURCES LIMITED

Applicable security for the reorganisation

GBZ ORDINARY FULLY PAID GBZAA OPTION EXPIRING 31-JAN-2023 EX 0.9C

Announcement Type

Update to previous announcement

Date of this announcement

Monday November 25, 2019

Reason for the Update

Shareholder approval of share consolidation approved by shareholders at the Annual General Meeting held on 25 November 2019.

Refer to below for full details of the announcement

Announcement Details

Part 1 - Entity and announcement details

1.1 *Name of +Entity

GBM RESOURCES LIMITED

Registration Number

1.2 *Registered Number Type ABN 91124752745 1.3 *ASX issuer code GBZ

1.4 *The announcement is

Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

Shareholder approval of share consolidation approved by shareholders at the Annual General Meeting held on 25 November 2019.

1.4b * Date of previous announcement(s) to this update

Thursday November 21, 2019

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1.5 *Date of this announcement

Monday November 25, 2019

1.6 *Securities affected by the reorganisation

GBZ ORDINARY FULLY PAID GBZAA OPTION EXPIRING 31-JAN-2023 EX 0.9C

Part 2 - Approvals

2.1 *Are any of the below approvals required for the reorganisation before business day 0 of the timetable?

• Security holder approval Court approval Lodgement of court order with +ASIC ACCC approval

• FIRB approval

• Another approval/condition external to the entity required to be given/met before business day 0 of the timetable for the reorganisation.

Yes

2.2 Approvals

Approval/Condition Date for determination Is the date estimated Approval +Security holder Monday November or actual? received/condition approval 25, 2019 Actual met? Yes Comments**

Part 3 - Reorganisation timetable and details

3.1 *+Record date

Thursday November 28, 2019

3.2 Date of +security holder meeting

Monday November 25, 2019

3.3 Last day for trading in the pre-re-organised +securities

Tuesday November 26, 2019

3.4 *Effective date. Trading in the re-organised securities commences on a +deferred settlement basis. If the +entity's securities are suspended from trading during this period there will be no +deferred settlement trading however ASX still captures this date.

Wednesday November 27, 2019

3.5 Record date

Thursday November 28, 2019

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3.6 First day for +entity to send notices to +security holders of the change in the number of +securities they hold. First day for +entity to register +securities on a post-reorganised basis Friday November 29, 2019

3.7 *+Issue date. +Deferred settlement market ends. Last day for +entity to send notices to +security holder of the change in the number of +securities they hold. Last day for +entity to register +securities on a post-reorganised basis Thursday December 5, 2019

3.8 Trading starts on a normal T+2 basis

Friday December 6, 2019

3.9 First settlement of trades conducted on a +deferred settlement basis and on a normal T+2 basis

Tuesday December 10, 2019

Part 4 - Reorganisation type and details

4.1 *The reorganisation is

+Security consolidation

4.1a *Consolidation ratio: the +securities will be consolidated on the basis that every

10

(pre-consolidation) +securities will be consolidated into

1

(post-consolidation) +security (/ies).

4.2 *Scrip fraction rounding

Fractions rounded up to the next whole number

Part 5 - +Securities on issue before and after reorganisation

5.1 *+Securities on issue before and after the reorganisation

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ASX +Security Code ASX +Security
GBZ Description
ORDINARY FULLY
PAID
Quoted/unquoted Number on issue Number on issue after Estimate/Actual
Quoted before reorganisation reorganisation Estimated
1,181,506,066 118,150,607
ASX +Security Code ASX +Security
GBZAA Description
OPTION EXPIRING
31-JAN-2023 EX 0.9C
Quoted/unquoted Number on issue Number on issue after Estimate/Actual
Unquoted before reorganisation reorganisation Estimated
18,800,000 1,880,000
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5.2 *Exercise price of options

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ASX +Security Code ASX +Security Description GBZAA OPTION EXPIRING 31-JAN-2023 EX 0.9C Quoted/unquoted Exercise price before Exercise price after Unquoted reorganisation reorganisation AUD 0.00900000 AUD 0.09000000 Part 6 - Further information 6.1 Further information relating to the reorganisation 6.2 Additional information for inclusion in the Announcement Summary

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