Highlights

  • MacAllum proposed issuing 860,072 Tranche 2 shares at A$0.14 each, subject to shareholder approval.
  • 4,291,715 unlisted broker options exercisable at A$0.21 will also be issued.
  • Tranche 1 of about 20.6 million shares is covered by a separate Appendix 3B.
  • Proceeds will fund Perth Basin exploration, the EP 494 farm-out and working capital.

MacAllum New Energy Limited (ASX:MNE) has lodged an Appendix 3B for the second tranche of a two-tranche placement. The proposed issue includes placement shares and broker options, with the proceeds directed to its Perth Basin exploration activities.

Placement Structure

The placement is being completed in two tranches. Tranche 1 involves about 20,598,502 shares issued under the company's Listing Rule 7.1 placement capacity and is covered by a separate Appendix 3B.

Tranche 2 comprises 860,072 ordinary shares at A$0.14 each, which require shareholder approval under Listing Rules 10.11 and 7.1. Shareholder approval is expected on 26 November 2026, with a proposed issue date of 3 December 2026.

Broker Options and Lead Manager Fees

MacAllum will issue 4,291,715 unlisted broker options, each exercisable at A$0.21 and expiring on 26 November 2029. The options are part of fees under the lead manager mandate, also subject to shareholder approval.

GBA Capital and Alpine Capital are acting as joint lead managers. Fees include a 2% management fee and a 4% selling fee on gross proceeds. The issue is not underwritten.

Use of Funds

The proceeds will fund MacAllum's Perth Basin exploration program, including the EP 494 farm-out, technical studies and drilling preparations.

The remaining funds will support general working capital.

Key Takeaways

  • Tranche 2 shares and broker options require shareholder approval on 26 November 2026.
  • The placement is priced at A$0.14 per share.
  • Joint lead managers GBA Capital and Alpine Capital will receive fees and options.
  • Funds are directed at Perth Basin exploration and the EP 494 farm-out.