Axtec Limited (ASX:AXI) has lodged an Appendix 3B disclosing a proposed placement of 100,000,000 ordinary fully paid shares at an issue price of AUD $0.01 each, with the issue scheduled for 9 November 2026, to raise working capital for the company's ongoing operations and strategic growth initiatives.

Key Points

  • Axtec Limited proposes to issue 100,000,000 ordinary fully paid shares at AUD $0.01 per share on 9 November 2026.
  • 47,538,634 securities will be issued using the company's 15% placement capacity under ASX Listing Rule 7.1.
  • 52,461,366 securities will be issued using the company's additional 10% placement capacity under ASX Listing Rule 7.1A.
  • Funds raised will be used to provide working capital to support the company's ongoing operations and strategic growth initiatives.
  • The new securities will rank equally in all respects from their issue date with existing issued securities in that class.

Placement Structure and Listing Rule Capacity

According to the filing, the placement will be conducted in two tranches under separate ASX Listing Rule capacities. A total of 47,538,634 shares will be issued without security holder approval using the company's 15% placement capacity under Listing Rule 7.1. The remaining 52,461,366 shares will be issued without security holder approval using the company's additional 10% placement capacity under Listing Rule 7.1A. No security holder approval has been sought for the entire issue under Listing Rule 7.1. The proposed securities are an existing class of ordinary fully paid shares already quoted on ASX.

Issue Price and Security Terms

The filing discloses that all 100,000,000 shares will be issued at a cash consideration of AUD $0.01 per security, denominated in Australian dollars. The new shares will rank equally in all respects from their issue date with existing issued ordinary fully paid securities in the same class. The filing states that the proposed securities will not be restricted securities for the purposes of the ASX Listing Rules and will not be subject to voluntary escrow. No lead manager, broker, or underwriter has been appointed for the proposed issue, and no other material fees or costs have been disclosed.

Purpose of the Placement

The filing states that the company elected to undertake a placement rather than a pro rata issue or a security purchase plan to enable it to raise capital in a timely and cost-effective manner. The funds raised from the placement will be used to provide immediate working capital to support the company's operations and strategic growth initiatives. The filing confirms that any on-sale of the securities proposed to be issued within 12 months of their date of issue will comply with the secondary sale provisions of the Corporations Act by virtue of the publication of a cleansing notice. The company's dividend or distribution policy will not change if the proposed issue proceeds.