ORA BANDA MINING LTD — Share Issue/Capital Change 2019

Jun 4, 2019

Notification of Consolidation/Split

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Notification of Consolidation/Split

Announcement Summary

Entity name

EASTERN GOLDFIELDS LIMITED

Applicable security for the reorganisation

EGS ORDINARY FULLY PAID EGSAI OPTION EXPIRING 31-JAN-2023 EX 25C EGSAK OPTION EXPIRING 31-JAN-2023 EX 27.5C EGSAA OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES

Announcement Type

New Announcement

Date of this announcement

Wednesday June 5, 2019

Reorganisation type

Security consolidation

Effective Date

Wednesday June 12, 2019

Record Date

Thursday June 13, 2019

Issue Date

Thursday June 20, 2019

Refer to below for full details of the announcement

Announcement Details

Part 1 - Entity and announcement details

1.1 *Name of +Entity

EASTERN GOLDFIELDS LIMITED

Registration Number

1.2 *Registered Number Type

ACN 100038266

1.3 *ASX issuer code

EGS

1.4 *The announcement is

New announcement

Notification of Consolidation/Split

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1.5 *Date of this announcement

Wednesday June 5, 2019

1.6 *Securities affected by the reorganisation

EGS ORDINARY FULLY PAID EGSAI OPTION EXPIRING 31-JAN-2023 EX 25C EGSAK OPTION EXPIRING 31-JAN-2023 EX 27.5C EGSAA OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES

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 Friday June 7, 2019 or actual? received/condition approval Actual met? [Select...] Comments**

Part 3 - Reorganisation timetable and details

3.1 *+Record date

Thursday June 13, 2019

3.2 Date of +security holder meeting

Friday June 7, 2019

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

Tuesday June 11, 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 June 12, 2019

Notification of Consolidation/Split

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3.5 Record date

Thursday June 13, 2019

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 June 14, 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 June 20, 2019

3.8 Trading starts on a normal T+2 basis

Friday June 21, 2019

3.9 First settlement of trades conducted on a +deferred settlement basis and on a normal T+2 basis Tuesday June 25, 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

15

(pre-consolidation) +securities will be consolidated into 1

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

4.2 *Scrip fraction rounding

Fractions of 0.5 or more rounded up

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
EGS Description
ORDINARY FULLY
PAID
Quoted/unquoted Number on issue Number on issue after Estimate/Actual
Quoted before reorganisation reorganisation Estimated
1,523,564,763 101,570,984
ASX +Security Code ASX +Security
EGSAI Description
OPTION EXPIRING
31-JAN-2023 EX 25C
Quoted/unquoted Number on issue Number on issue after Estimate/Actual
Unquoted before reorganisation reorganisation Estimated
32,675,000 2,178,333
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ASX +Security Code ASX +Security
EGSAK Description
OPTION EXPIRING
31-JAN-2023 EX
27.5C
Quoted/unquoted Number on issue Number on issue after Estimate/Actual
Unquoted before reorganisation reorganisation Estimated
32,675,000 2,178,333
ASX +Security Code ASX +Security
EGSAA Description
OPTION EXPIRING
VARIOUS DATES EX
VARIOUS PRICES
Quoted/unquoted Number on issue Number on issue after Estimate/Actual
Unquoted before reorganisation reorganisation Estimated
131,288,197 8,752,546
5.2 Exercise price of options
ASX +Security Code ASX +Security Description
EGSAI OPTION EXPIRING
31-JAN-2023 EX 25C
Quoted/unquoted Exercise price before Exercise price after
Unquoted reorganisation reorganisation
0.25000000 3.75000000
ASX +Security Code ASX +Security Description
EGSAK OPTION EXPIRING
31-JAN-2023 EX 27.5C
Quoted/unquoted Exercise price before Exercise price after
Unquoted reorganisation reorganisation
0.27500000 4.12500000
ASX +Security Code ASX +Security Description
EGSAA OPTION EXPIRING
VARIOUS DATES EX
VARIOUS PRICES
Quoted/unquoted Exercise price before Exercise price after
Unquoted reorganisation reorganisation
0.00000000 0.00000000
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Part 6 - Further information

Notification of Consolidation/Split

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6.1 Further information relating to the reorganisation

Subject to shareholder approval to be sought at a Meeting of Shareholders to be held on 7 June 2019, pursuant to and in accordance with section 254H of the Corporations Act, the Listing Rules and the Constitution and for all other purposes, approval is being sought for the Company to consolidate its issued capital on the basis that every 15 Shares be consolidated into 1 Share with effect from the date that is two business days after all the Securities to be issued pursuant to the 7 June 2019 Notice of General Meeting have been issued, and where this consolidation results in a fraction of a Share being held, the Company be authorised to round that fraction up or down to the nearest whole number, with entitlements to less than half of a Share or Option rounded down.

6.2 Additional information for inclusion in the Announcement Summary

Notification of Consolidation/Split

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