OLDFIELDS HOLDINGS LIMITED — Capital/Financing Update 2024

Jul 29, 2024

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30 July 2024

Placement raises c$1.08 million

Oldfields Holdings Limited ACN 000 307 988 (ASX:OLH) ( Company ) is pleased to announce that it has raised c$1.08 million by a placement of 12,303,183 fully paid ordinary shares ( New Shares ) to existing shareholders at an issue price of 8.75 cents per New Share ( Placement ). Funds were raised by the Company without incurring brokerage costs.

Most of the New Shares were issued to Clear Port AUS Pty Ltd, a private investor who will now become a substantial holder with approximately 5.5% of the Company and the remaining New Shares to a private individual who is an existing shareholder of the Company.

The funds raised from the Placement will be used by the Company for debt reduction, inventory and ordinary working capital requirements.

The New Shares will be issued without shareholder approval, using the Company's placement capacity under ASX Listing Rule 7.1. The New Shares will be issued today and rank equally with existing ordinary shares in the Company.

This announcement has been approved by the Managing Director.

For further information, please contact:

Michael Micallef CEO & Managing Director +61 457 575 055

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About Oldfields Holdings Limited:

Oldfields Holdings Limited (ASX:OLH) is an Australian-based company specializing in the manufacturing and distribution of quality products. With a rich history and a commitment to innovation and excellence, Oldfields is dedicated to providing its customers with solutions that meet and exceed their expectations.

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