Sarytogan Graphite Limited (ASX:SGA) has confirmed its pro rata non-renounceable entitlement offer is now unconditional after the company waived the requirement to obtain a Kazakh Issue Permit, citing feedback from its lawyers in Kazakhstan that the risk of not obtaining the permit is remote.

Key Points

  • The entitlement offer is now unconditional following the waiver of the Kazakh Issue Permit condition
  • The offer is structured as one new share for every four shares held at the record date, at an issue price of $0.058 per share
  • One free new option is included for every two shares applied for and issued
  • Shares trade ex-entitlement from 11 November 2026, with a record date of 12 November 2026 and the offer closing at 5:00pm WST on 26 November 2026
  • The underwriter's obligation to subscribe for shortfall securities remains conditional on the Kazakh Issue Permit being obtained

Entitlement Offer Structure and Waiver of Permit Condition

Sarytogan Graphite Limited disclosed on 10 November 2026 that it has waived the condition under Section 2.10 of its prospectus dated 9 November 2026, which previously required the company to obtain a Kazakh Issue Permit before the issue of securities under the offer could proceed. The company stated it believes the risk of not obtaining the Kazakh Issue Permit to be remote, based on feedback from its lawyers in Kazakhstan. As a result, the offer is no longer conditional on that permit and is therefore unconditional.

Offer Terms and Timetable

The offer is structured as a pro rata non-renounceable entitlement issue of one share for every four shares held by eligible shareholders at the record date, at an issue price of $0.058 per share. Eligible shareholders also receive one free new option for every two shares applied for and issued. The company confirmed the timetable for the offer is unchanged, with shares trading on an ex-entitlement basis from Wednesday, 11 November 2026, the record date set for Thursday, 12 November 2026, and the offer scheduled to close at 5:00pm WST on Thursday, 26 November 2026.

Underwriter Obligations Remain Subject to Kazakh Permit

Notwithstanding the company's waiver of the Kazakh Issue Permit condition for the offer itself, the underwriter's obligation to subscribe for any shortfall securities remains conditional on the Kazakh Issue Permit having been obtained, as summarised in Section 6.4.1 of the prospectus. The filing was authorised by Managing Director Sean Gregory. Capitalised terms used in the company's disclosure carry the meanings given in the prospectus dated 9 November 2026.