Entitlement Offer Closed

Entitlement Offer Closed

Environmental Clean Technologies Limited (ASX: ECT) (ECT or Company) is pleased to advise that its Non-renounceable Entitlement Offer closed today at 5pm (AEDT).

The Entitlement Offer was undertaken by way of a Non-renounceable pro-rata entitlement offer on the basis of one (1) new share for every one (1) share held by eligible shareholders as at the record date (12 December 2019), together with two (2) free attaching options for every five (5) new shares issued. Options exercisable at 0.3 cents per Share at any time until 3 years after issue.

The Company previously advised (7 February 2020) that minimum subscription of $1.41 million has been reached.

The ASX has advised that official quotation on a “deferred Settlement” basis will be granted to the undermentioned securities as from the commencement of trading on 11 February 2020:

ASX Code Purpose Number issued
ECTNC Up to 4,800,516,393 ordinary shares issued at $0.001 per share fully paid pursuant to the Company’s one (1) for one (1) non-renounceable issue 4,800,516,393
ECTOE Up to 1,920,206,557 options expiring 17 February 2023exercisable at $0.003 issued free pursuant to the Company’s one (1) for (1) non-renounceable issue 1,920,206,557

Full details will be released this Thursday 13 February 2020, following reconciliation of subscription monies and applications.

Shares and options under the offer are due to be issued on Monday 17 February 2020.

For further information, contact:

Glenn Fozard – Chairman           info@ectltd.com.au