Ann: Placement and Entitlement Offer to raise up to $8.37 million, page-6

ubject to necessary shareholder approvals, Directors, Lou Panaccio and George Barran have agreed to subscribe under the Second Tranche Placement for a total of $250,000. Trudell Medical Limited, a substantial shareholder of the Company and a company associated with Mr Barran, has agreed to subscribe for a further $220,000. Finally, the new Chief Executive Officer of the Company, Dr Paul Mastoridis has agreed to subscribe for $100,000, for a total Second Tranche Placement to raise $570,000 before costs. The highest and lowest closing market prices of the Shares on ASX during the 3 months of trading up to and including 22 April 2024 and the respective dates of those sales, are: Highest: $0.093 on 15 April 2024 Lowest: $0.028 on 18 April 2024 The volume weighted average sale price on ASX of the Shares during the 3 months immediately preceding the date of this announcement is $0.051. The Issue Price represents a discount of: • 31% to the Company’s closing price on 22 April 2024 of $0.029; • 60% to the Company’s 10 day VWAP of $0.051; and • 60% to the Company’s 30 day VWAP of $0.051. Allotment and issue of the New Shares under the upfront Placement is expected to occur on 3 May 2024, with normal trading of the New Shares issued under the upfront Placement expected to commence on 6 May 2024




Vote NO F way!