oexo options a bargain and way undervalued, page-41

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OILEX LTD
ACN 078 652 632
TERMS & CONDITIONS OF $0.15 - 7 SEPTEMBER 2015 OPTIONS
Subject to clause 11, each Option entitles the holder, when exercised, to one (1) fully paid ordinary share (Share) in the issued share capital of Oilex Ltd (Company).
The Options are exercisable at any time between the date of issue and 5.00 pm WST on 7 September 2015 (Expiry Date) by notice in writing to the Company or the Company’s share registry, accompanied by a bank cheque for payment of the exercise price, at the addresses below:

To
The Directors
Oilex Ltd
Level 1
660 Newcastle Street LEEDERVILLE WA 6007
To: The Directors
Oilex Ltd
Level 1, 660 Newcastle Street
Leederville WA 6007
Ph: (618) 9485 3200 Fax: (618) 9485 3290
Security Transfer Registrars Pty Ltd
Suite 1, 770 Canning Highway APPLECROSS WA 6153
Email: [email protected] Ph: (618) 9315 2333 Fax: (618) 9315 2233
The exercise price of each Option shall be $0.15 (Exercise Price).
The Company intends to apply for quotation of the Options on the ASX.
The Options are freely transferrable in whole or in part at any time prior to the Expiry Date.
All Shares issued upon exercise of the Options will rank pari passu in all respects with the Company’s then existing fully paid shares. The Company will apply for “Official Quotation” (as defined in Chapter 19 of the Listing Rules of the ASX (Listing Rules)) of all Shares issued upon exercise of the Options.
There are no participating rights or entitlements inherent in the Options to participate in any new issue of securities (including any pro-rata issue) which may be offered to shareholders of the Company from time to time prior to the Expiry Date. However, before the record date to determine entitlements to any such new issue of securities, the Company will notify Option holders of the proposed new issue in accordance with the requirements of the Listing Rules.
The Options confer on holders a right to a change in the Exercise Price, or a change to the number of Shares to be issued on exercise of the Options, where there is a pro rata issue (except a bonus issue) to the holders of Shares. In such circumstances, the Exercise Price of the Options may be reduced according to the formula set out in Listing Rule 6.22.
The Options do not confer on the Option holder any right to participate in dividends until Shares are allotted pursuant to the exercise of the Options after which such Shares will qualify for any dividend paid on the fully paid ordinary shares in the Company with a record date after the date of allotment.
In the event of a reorganisation of the issued capital of the Company, the Options will be reorganised in accordance with the Listing Rules as applicable at the time of the reorganisation and in any case in a manner which will not result in any benefits being conferred on Option holders which are not conferred on the Company’s shareholders.
The number of Shares to be issued pursuant to the exercise of Options will be adjusted for bonus issues made prior to exercise of the Options so that, upon exercise of the Options, the number of Shares received by the Option holder will include the number of bonus Shares that would have been issued if the Options had been exercised prior to the record date to determine entitlements for the bonus issues. The exercise price of the Options shall not change as a result of any such bonus issues.