MINERAL COMMODITIES LTD — Capital/Financing Update 2023

Oct 25, 2023

Proposed issue of securities

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Announcement Summary

Entity name

MINERAL COMMODITIES LTD

Announcement Type

New announcement

Date of this announcement

26/10/2023

The Proposed issue is: An accelerated offer

Total number of +securities proposed to be issued for an accelerated offer

		Maximum Number of
ASX +security code	+Security description	+securities to be issued
MRC	ORDINARY FULLY PAID	501,055,029

Trading resumes on an ex-entitlement basis (ex date)

30/10/2023

+Record date

30/10/2023

Offer closing date for retail +security holders

16/11/2023

Issue date for retail +security holders

23/11/2023

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

MINERAL COMMODITIES LTD

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.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type

Registration Number

ACN 008478653

1.3 ASX issuer code

MRC

1.4 The announcement is

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New announcement

1.5 Date of this announcement

26/10/2023

1.6 The Proposed issue is:

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An accelerated offer

1.6b The proposed accelerated offer is

Accelerated non-renounceable entitlement offer (commonly known as a JUMBO or ANREO)

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Part 3 - Details of proposed entitlement offer issue

Part 3A - Conditions

3A.1 Do any external approvals need to be obtained or other conditions satisfied before the entitlement offer can proceed on an unconditional basis? No

Part 3B - Offer details

Class or classes of +securities that will participate in the proposed issue and class or classes of +securities proposed to be issued

ASX +security code and description

MRC : ORDINARY FULLY PAID

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class

Will the proposed issue of this If the entity has quoted company +security include an offer of options, do the terms entitle option attaching +securities? holders to participate on exercise? No No

Details of +securities proposed to be issued

ASX +security code and description

MRC : ORDINARY FULLY PAID

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

ISIN Code for the entitlement or right to participate in the offer (if Issuer is foreign company and +securities are non CDIs)

Offer ratio (ratio to existing holdings at which the proposed +securities will be issued)

Has the offer ratio been determined? Yes

The quantity of additional +securities For a given quantity of +securities

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to be issued held 100 138

What will be done with fractional Maximum number of +securities entitlements? proposed to be issued (subject to rounding) Fractions rounded down to the nearest 501,055,029 whole number or fractions disregarded

Offer price details for retail security holders

Has the offer price for the retail offer been determined?

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Yes

In what currency will the offer be What is the offer price per +security made? for the retail offer? AUD - Australian Dollar AUD 0.03000

Offer price details for institutional security holders

Has the offer price for the institutional offer been determined?

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Yes

In what currency will the offer be What is the offer price per +security made? for the institutional offer? AUD 0.03000 AUD - Australian Dollar

Oversubscription & Scale back details

Will individual +security holders be permitted to apply for more than their entitlement (i.e. to over-subscribe)?

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Yes

Describe the limits on over-subscription

Eligible shareholders will not be permitted to subscribe for additional shares under the shortfall offer where doing so would result in a breach of section 606 of the Corporations Act.

Substantial holder Au Mining will not be permitted to apply for additional shares under the shortfall offer.

Will a scale back be applied if the offer is over-subscribed? No

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

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Part 3D - Timetable

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3D.1a First day of trading halt

26/10/2023

3D.1b Announcement date of accelerated offer

26/10/2023

3D.2 Trading resumes on an ex-entitlement basis (ex date)

30/10/2023

3D.5 Date offer will be made to eligible institutional +security holders

26/10/2023

3D.6 Application closing date for institutional +security holders

27/10/2023

3D.8 Announcement of results of institutional offer (The announcement should be made before the resumption of trading following the trading halt) 30/10/2023

3D.9 +Record date

30/10/2023

3D.10a Settlement date of new +securities issued under institutional entitlement offer

2/11/2023

3D.10b +Issue date for institutional +security holders

2/11/2023

3D.10c Normal trading of new +securities issued under institutional entitlement offer

3/11/2023

3D.11 Date on which offer documents will be sent to retail +security holders entitled to participate in the +pro rata issue 2/11/2023

3D.12 Offer closing date for retail +security holders

16/11/2023

3D.13 Last day to extend retail offer close date

13/11/2023

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3D.19 +Issue date for retail +security holders and last day for entity to announce results of retail offer

23/11/2023

Part 3E - Fees and expenses

3E.1 Will there be a lead manager or broker to the proposed offer? Yes

3E.1a Who is the lead manager/broker?

Taylor Collison Limited

3E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

Management fee of 2% of gross offer under rights issue, together with an underwriting/selling fee of 4% of the retail portion of the rights issue for which sub-underwriting commitments are procured. 3E.2 Is the proposed offer to be underwritten? No

3E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission? No

3E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer

Part 3F - Further Information

3F.1 The purpose(s) for which the entity intends to use the cash raised by the proposed issue

To strengthen the Company's balance sheet to provide immediate working capital support and capital investment aimed to turnaround the profitability of the Company. 3F.2 Will holdings on different registers or subregisters be aggregated for the purposes of determining entitlements to the issue? No

3F.3 Will the entity be changing its dividend/distribution policy if the proposed issue is successful? No

3F.4 Countries in which the entity has +security holders who will not be eligible to participate in the proposed issue

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3F.5 Will the offer be made to eligible beneficiaries on whose behalf eligible nominees or custodians hold existing +securities No

3F.6 URL on the entity's website where investors can download information about the proposed issue

https://events.miraqle.com/MRC-Offer

3F.7 Any other information the entity wishes to provide about the proposed issue

3F.8 Will the offer of rights under the rights issue be made under a disclosure document or product disclosure statement under Chapter 6D or Part 7.9 of the Corporations Act (as applicable)? Yes

3F.9 Any on-sale of the +securities proposed to be issued within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of: The publication of a +disclosure document or +PDS for the +securities proposed to be issued

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