Melbana Energy (ASX:MNE) has lodged a cleansing notice with the Australian Securities Exchange pursuant to section 708A(5)(e) of the Corporations Act 2001, confirming the company was not in possession of any excluded information at the time of a recent issue of securities under its placement capacity.

Key Points

  • Melbana Energy lodged a cleansing notice under section 708A(5)(e) of the Corporations Act 2001
  • The notice relates to securities issued by the company under its placement capacity
  • The company declared it was not in possession of excluded information at the time of the securities issue
  • The cleansing notice enables securities to be freely traded on the ASX without the need for a disclosure document

Cleansing Notice Under Section 708A(5)(e)

Melbana Energy disclosed to the market that it had satisfied the requirements of section 708A(5)(e) of the Corporations Act 2001 in connection with a recent issue of securities. The notice confirms that, as of the date of lodgement, the company was not aware of any excluded information — being information that is not generally available and that a reasonable person would expect to have a material effect on the price or value of Melbana Energy's securities — that had not already been disclosed to the market through the ASX. This statutory declaration is a standard obligation that must be met following the issue of securities under a company's placement capacity.

Securities Issue and Placement Capacity

The securities the subject of the cleansing notice were issued by Melbana Energy using its placement capacity as an ASX-listed entity. The company is an oil and gas explorer with operations focused on Cuba and Australia. By lodging the cleansing notice, holders of the newly issued securities are permitted to on-sell those securities without the company needing to provide a separate prospectus or other disclosure document, as would otherwise be required under the Corporations Act 2001. The filing does not disclose the specific number of securities issued, the issue price, or the proceeds raised in connection with the placement.

Continuous Disclosure Obligations Confirmed

As part of the cleansing notice, Melbana Energy confirmed that it has complied with its continuous disclosure obligations under ASX Listing Rule 3.1 throughout the period leading up to and at the time of the securities issue. The company stated that all material information required to be disclosed under ASX Listing Rule 3.1 had been provided to the market prior to the issue. The filing does not contain additional operational updates, financial results, project milestones, or other corporate announcements beyond the statutory declarations required under the cleansing notice provisions of the Corporations Act 2001.