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20.0%

0.6¢ oilex ltd

CR with Darwin, page-11

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retiredyoung

3,423 Posts.

151

16/07/14

10:48

Post #: 13666257
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Originally posted by retiredyoung ↑

Hi Roger1

My understanding is that it is possible to 'naked short sell' if a person selling products has, at the time of sale, a presently exercisable and unconditional right to vest.

RG 196 - Short selling

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Some information from the '£7.5 MILLION EQUITY FINANCING FACILITY ' (6 Dec 2013):

The subscription price for any Ordinary Shares to be subscribed by Darwin will be set with reference to the average of the three lowest closing bid prices in the period of 15 trading days following the issue of the subscription notice.

The maximum amount of an individual subscription notice may not exceed £500,000 without Darwin's permission, such permission not unreasonably withheld. Darwin is entitled to a commission of up to 5 per cent of amounts subscribed but may agree with Oilex in lieu thereof, for the subscription price for the Ordinary Shares to be discounted by 5 per cent.

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In conjunction with the EFF, Oilex has entered into a warrant agreement with Darwin dated 5 December 2013 to subscribe for up to 3,000,000 Ordinary Shares. The warrants, which are unlisted, are exercisable at 15 cents at any time prior to the expiry of 36 months from the date of the warrant agreement.

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OEX Price at posting: 12.0¢ Sentiment: Buy Disclosure: Held
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