Open OfferJul 8, 2026, 04:38 PM
NOVONIX Receives ASX Waivers for Share Purchase Plan at $0.16
AI Summary
NOVONIX Limited announced that the ASX has granted waivers for Listing Rules 7.1 and 10.11, allowing the company to proceed with its Share Purchase Plan (SPP). These waivers permit NOVONIX to issue new shares at an Offer Price of $0.16, which is less than 80% of the 5-day volume weighted average price, without requiring shareholder approval. The waivers also allow directors to participate in the SPP, ensuring eligible shareholders can subscribe for shares at the same price as institutional investors.
Key Highlights
- ASX granted waivers for Listing Rules 7.1 and 10.11 regarding the Share Purchase Plan (SPP).
- Waivers permit NOVONIX to issue new shares under the SPP at an Offer Price of $0.16.
- Shareholder approval is not required for the issuance of SPP shares due to the waivers.
- Directors are permitted to participate in the Share Purchase Plan.
- The issue price must be no less than $0.16 per new share.
- The number of SPP shares issued must not exceed 30% of NOVONIX's existing shares.
- The Offer Price represents a 31.2% discount to the 5-day VWAP prior to the SPP announcement.
- The SPP is scheduled to close on 14 August 2026, with allotment around 19 August 2026.
Price Impact
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