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MINDAX LIMITED — Capital/Financing Update 2025
Jan 15, 2025
65308_rns_2025-01-15_f61f7c4f-13f9-4915-83c3-af0fa7304ea2.pdf
Capital/Financing Update
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ISSUE OF OPTIONS
ASX ANNOUNCEMENT
16 January 2025
ASX Code: MDX ABN: 28 106 866 442
Principal Address and Registered Office
Level 1, Suite 3 17 Ord Street West Perth WA 6005 Telephone: +61 8 9389 2111 Email: [email protected]
Investor Enquiries
Mr Benjamin Chow AO Executive Chair Telephone: +61 8 9389 2111 Email: [email protected]
Mindax Limited (ASX: MDX, “Mindax” or “the Company”) advises that on 11 January 2025, the Board of Directors (“Board”) resolved to issue 53,000,000 unlisted options to its executive and non-executive directors, employees, consultants and contractors.
25,000,000 options are being issued under the Company’s Listing Rule 7.1 capacity to consultants and employees. Shareholder approval is not being sought (although the Company may seek ratification of the issue in the future).
The issue of 28,000,000 options to Directors and related parties will be subject to shareholder approval at the next general meeting and will serve to provide an incentive and reward for future services in a manner that aligns the interests of the Directors with the interests of all Shareholders.
The number of options proposed to be granted has been determined by reference to current market practices in the mineral exploration sector. The Directors consider options are appropriate as they provide incentive whilst conserving the Company’s cash resources.
The options will be issued for no consideration, with an exercise price of $0.07 and an expiry date of 30 November 2025 and include terms and conditions customary for issues of this nature. The exercise price represents a 75% premium to the 20-day Volume Weighted Average Price for the Company’s shares at the time they were approved by the Board.
Each option entitles the holder to subscribe for a fully paid ordinary share of the Company at a price of $0.07c per share at any time during the exercise period.
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MINDAX LIMITED | www.mindax.com.au
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The allocation of the proposed issue of 53,000,000 options is shown in the following tables.
| AllocationtoDirectors(subjecttoshareholder approval) | Proposed number of options |
|---|---|
| Benjamin Chow | 8,000,000 |
| Qinglong Zeng | 5,000,000 |
| Biaozhun Zhu | 5,000,000 |
| Allocation to Related Party (subject toshareholder approval) | Proposed number of options |
| Andrew Tsang | 10,000,000 |
| Allocation to Consultants and Employees | Proposed number of options |
| Under the Company’s Listing Rule 7.1capacity | 25,000,000 |
An Appendix 3B follows.
This announcement has been authorised for release by Dennis Wilkins, Company Secretary.
End of Announcement
For further information contact: Benjamin Chow AO Chair Mindax Limited Telephone: +61 8 9389 2111
MINDAX LIMITED | www.mindax.com.au
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