Macallum New Energy Limited (ASX:MNE) has completed its Tranche 1 Placement, raising $2.88 million before costs through the issue of 20,598,502 new fully paid ordinary shares at an issue price of A$0.14 per share, according to a filing dated 3 November 2026.

Key Points

  • Tranche 1 Placement completed, raising $2.88 million before costs
  • 20,598,502 new fully paid ordinary shares issued at A$0.14 per share
  • Shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act 2001
  • Company has lodged a cleansing notice under section 708A(5)(e) of the Corporations Act 2001

Tranche 1 Placement Terms

The completion of the Tranche 1 Placement follows the company's announcement of the placement on 28 October 2026. A total of 20,598,502 new fully paid ordinary shares were issued at A$0.14 per share, generating gross proceeds of $2.88 million before costs. The filing states that the placement was approved for release to the exchange by Macallum New Energy's Board of Directors. An Appendix 2A accompanies the company's disclosure relating to the issue of these new shares.

Cleansing Notice Under the Corporations Act 2001

In conjunction with the placement completion, Macallum New Energy issued a cleansing notice to the exchange under section 708A(5)(e) of the Corporations Act 2001 (Cth). The filing states that the new ordinary shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act. The company has confirmed that, as at the date of the notice, it has complied with the provisions of Chapter 2M of the Corporations Act as they apply to the company, as well as sections 674 and 674A of the Corporations Act.

Excluded Information Disclosure

As part of the cleansing notice requirements, Macallum New Energy disclosed that, as at the date of the notice, there is no information constituting "excluded information" within the meaning of sections 708A(7) and 708A(8) of the Corporations Act that is required to be disclosed by the company. The cleansing notice is a statutory requirement associated with the issue of the new shares without a prospectus or other disclosure document under Part 6D.2 of the Corporations Act 2001 (Cth).