ADX Energy Opens 2-for-5 Renounceable Rights Issue to Raise Up to $5.2 Million

Sonal Goyal

10 November 2026 12:56 PM AEDT

ADX Energy Opens 2-for-5 Renounceable Rights Issue to Raise Up to $5.2 Million

Image Source: Krish Capital Pty Ltd

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ADX Energy Ltd (ASX:ADX) has opened its renounceable rights issue on 10 November 2026, dispatching a prospectus and personalised entitlement and acceptance forms to eligible shareholders, with the offer seeking to raise up to $5.2 million through the issue of new fully paid ordinary shares at 1.2 cents each.

Key Points

2-for-5 renounceable rights issue priced at 1.2 cents per share, targeting up to $5.2 million
Every two new shares subscribed carry one free attaching option exercisable at 2.5 cents, expiring 31 December 2028
Rights issue closes at 5:00pm AWST on Wednesday, 25 November 2026, unless extended
Rights trading under ASX code ADXR will cease on 18 November 2026
All directors intend to participate in the offer

Rights Issue Structure and Entitlement Terms

Eligible shareholders may subscribe for two new fully paid ordinary shares for every five existing fully paid ordinary shares held at the record date of Thursday, 5 November 2026. The issue is priced at 1.2 cents per new share. For every two new shares subscribed, shareholders will receive one free attaching new option. The new options carry an exercise price of 2.5 cents and expire on 31 December 2028. The company disclosed it will apply to ASX for quotation of the new options. Shareholders are also able to trade their rights on ASX under the code ADXR and may apply for additional shares and options.

Prospectus Despatch and Eligible Shareholder Jurisdictions

The company dispatched the prospectus and personalised entitlement and acceptance forms via email on 10 November 2026 to eligible shareholders, defined as those with a registered address in Australia, New Zealand, Singapore, Monaco, or the United Kingdom at the record date. Physical copies of the prospectus were mailed to eligible shareholders who have opted out of electronic communications. The rights issue opened on 10 November 2026 and will close at 5:00pm AWST on Wednesday, 25 November 2026, unless extended.

Intended Use of Proceeds from the Capital Raise

According to the filing, funds raised through the rights issue are intended to be used primarily for Vienna Basin production enhancement well work, the HOCH-1 gas discovery well Phase 2 production testing, and GOLD-1 shallow gas well drilling, testing and completion. The company disclosed that all directors intend to participate in the rights issue. ADX Energy is focused on oil and gas production and exploration in Europe, with operations including production in Austria and an exploration portfolio in Austria and the Sicily Channel, Offshore Italy.

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