AXP Energy Limited (ASX:AXP) has advised that its non-renounceable entitlement offer closed on 3 November 2026 without achieving the minimum subscription of $1,200,000, with valid applications received for 52,442,871 fully paid ordinary shares raising $262,214 before costs.

Key Points

  • The Entitlement Offer closed at 5:00pm Sydney time on 3 November 2026, raising $262,214 before costs.
  • Valid applications were received for a total of 52,442,871 fully paid ordinary shares, comprising 38,789,800 shares from entitlements accepted and 13,653,071 additional shares applied for.
  • The minimum subscription of $1,200,000 was not achieved under the Entitlement Offer.
  • The shortfall offer will remain open for up to three months following the closing date, until 5:00pm Sydney time on Wednesday, 3 February 2027.

Entitlement Offer Results and Minimum Subscription Outcome

AXP Energy's 1 for 1 non-renounceable entitlement offer, which included one free attaching option for every two shares subscribed for at an offer price of $0.005 per share, closed on 3 November 2026. Total valid applications amounted to 52,442,871 shares, with a corresponding 26,221,436 free attaching options. Of the total shares applied for, 38,789,800 shares with 19,394,900 options came from entitlements accepted, and 13,653,071 shares with 6,826,536 options were applied for as additional shares. The company confirmed the minimum subscription of $1,200,000 was not met.

Funds to Be Dealt With Under Corporations Act

As the minimum subscription of $1,200,000 under the Entitlement Offer was not achieved, AXP Energy disclosed that it will deal with the funds received in accordance with the requirements of the Corporations Act 2001 (Cth). The company did not disclose further detail regarding the specific steps to be taken with the $262,214 raised. The Entitlement Offer was originally announced on 12 October 2026, according to the filing.

Shortfall Offer Terms and Timetable

The shortfall offer, described as a separate offer made under the prospectus, will remain open for up to three months following the closing date, until 5:00pm Sydney time on Wednesday, 3 February 2027, or such shorter period as the directors determine. Shortfall securities may be issued progressively at any time while the offer remains open. Shortfall securities will be issued at $0.005 per share with one free attaching new option for every two shares issued, on terms no more favourable than those offered under the Entitlement Offer, in accordance with ASX Listing Rule 7.2 Exception 3 and the Corporations Act 2001 (Cth).