HYDROCARBON DYNAMICS LIMITED — Capital/Financing Update 2022

Feb 10, 2022

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11 February 2022

Board Supported Rights Issue

Hydrocarbon Dynamics Limited (“HCD”) announces that it will undertake a 1 for 3 non-renounceable Rights Issue at $0.011/share to raise up to approximately $1.6m. The issue price of the Rights Issue is a 18% discount to the prevailing share price of $0.013.

Directors Messr’s Mitchell, Shorrocks and Seaton have stated their intention to support the rights issue for their full allocation with the HCD Chairman committing up to $350,000 to support the Rights Issue.

The small capital raising and discounted price has been structured to encourage shareholder participation and the Company will seek to place any shortfall with sophisticated investors. Peloton Capital Pty Ltd has been appointed to manage the Rights Issue and assist Directors to place any shortfall. This Rights Issue is partial underwritten by a related party of Mr Mitchell.

The indicative timetable for the Rights Issue offer is set out below:

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	e indicative timetable for the Ri	hts Issue offer is set ou	below:
	g
	Ev	ent		Date
A	nnouncement of the Entitlement	Offer	Friday, 1	1 February 2022
Shares traded on an “ex” entitlement basisThursday, 17 February 2022	“”
Record Date for eligibility to participate in the Entitlement OfferFriday, 18 February 2022
Despatch of Entitlement Offer Booklet and Entitlement andAcceptance Form to Eligible ShareholdersMonday, 21 February 2022
Entitlement Offer opensMonday, 21 February 2022
Entitlement Offer closesMonday, 14 March 2022
Securities quoted on a deferred settlement basisTuesday, 15 March 2022
Shortfall (if any) announced to ASXThursday, 17 March 2022
Settlement of New Shares under the Entitlement OfferFriday, 18 March 2022
Issue of New Shares under Entitlement OfferFriday, 25 March 2022
Despatch of Holding StatementsMonday, 28 March 2022
New Shares commence trading on a normal settlement basisMonday, 28 March 2022

ABN: 75 117 387 354 Tel: +61 3 9642 2899 | Fax: +61 3 9642 5177 Level 6, 412 Collins Street, Melbourne VIC 3000 Australia

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This announcement has been approved by the Board of Directors.

For further information please contact:

Stephen Mitchell Chairman

Julie Edwards Company Secretary

Telephone: +61 3 9642 2899 Website: www.indagoenergy.com ASX code: HCD

ABN: 75 117 387 354 Tel: +61 3 9642 2899 | Fax: +61 3 9642 5177 Level 6, 412 Collins Street, Melbourne VIC 3000 Australia