Update - Proposed issue of securities - EMU
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Released
Announcement PDF
Appendix 3B - Proposed issue of securities
Appendix 3B - Proposed issue of securities 1 / 8
Update Summary
Entity name
EMU NL
Announcement Type
Update to previous announcement
Date of this announcement
25/3/2026
Reason for update to a previous announcement
All partly paid shares are to be included as fully entitled
Refer to next page for full details of the announcement
Appendix 3B - Proposed issue of securities
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Part 1 - Entity and announcement details
1.1 Name of +Entity
EMU NL
We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees
to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in
Appendix 3B of the ASX Listing Rules.
If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also
apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set
out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under
the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX
an Appendix 2A online form notifying ASX of their issue and applying for their quotation).
1.2 Registered Number Type
ABN
Registration Number
50127291927
1.3 ASX issuer code
EMU
1.4 The announcement is
1.4a Reason for update to a previous announcement
All partly paid shares are to be included as fully entitled
1.4b Date of previous announcement to this update
25/3/2026
1.5 Date of this announcement
25/3/2026
1.6 The Proposed issue is:
1.6a The proposed standard +pro rata issue is:
+ Non-renounceable
A standard +pro rata issue (non-renounceable or renounceable)
Update/amendment to previous announcement
Appendix 3B - Proposed issue of securities
Appendix 3B - Proposed issue of securities 3 / 8
Part 3 - Details of proposed entitlement offer issue
Part 3A - Conditions
3A.1 Do any external approvals need to be obtained or other conditions satisfied before the entitlement offer can
proceed on an unconditional basis?
Part 3B - Offer details
+Class or classes of +securities that will participate in the proposed issue and +class or classes of +securities
proposed to be issued
ASX +security code and description
EMU : ORDINARY FULLY PAID
Is the proposed security a 'New
class' (+securities in a class that is
not yet quoted or recorded by ASX)
or an 'Existing class' (additional
securities in a class that is already
quoted or recorded by ASX)?
Will the proposed issue of this
+security include an offer of
attaching +securities?
If the entity has quoted company
options, do the terms entitle option
holders to participate on exercise?
Details of +securities proposed to be issued
ASX +security code and description
EMU : ORDINARY FULLY PAID
ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs
issued over them)
ISIN Code for the entitlement or right to participate in a non-renounceable
issue (if Issuer is foreign company and +securities do not have +CDIs
issued over them)
Offer ratio (ratio to existing holdings at which the proposed +securities will be issued)
The quantity of additional +securities
to be issued
1
For a given quantity of +securities
held
2
No
Yes
Existing class
No
Appendix 3B - Proposed issue of securities
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What will be done with fractional
entitlements?
Fractions rounded down to the nearest
whole number or fractions disregarded
Maximum number of +securities
proposed to be issued (subject to
rounding)
146,610,377
Offer price details for retail security holders
In what currency will the offer be
made?
AUD - Australian Dollar
What is the offer price per +security
for the retail offer?
AUD 0.02500
Oversubscription & Scale back details
Will individual +security holders be permitted to apply for more than their
entitlement (i.e. to over-subscribe)?
Describe the limits on over-subscription
Shortfall Shares will be allocated by the Directors in priority to Eligible Shareholders, subject to overriding Board discretion
(including as to scale backs) and an Eligible Shareholder¿s Voting Power not increasing above 10% as a result.
Will a scale back be applied if the offer is over-subscribed?
Describe the scale back arrangements
Shortfall Shares will be allocated by the Directors in priority to Eligible Shareholders, subject to overriding Board discretion
(including as to scale backs) and an Eligible Shareholder¿s Voting Power not increasing above 10% as a result.
Will these +securities rank equally in all respects from their issue date with
the existing issued +securities in that class?
Attaching +Security
Is the proposed attaching security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX)
or an 'Existing class' (additional +securities in a class that is already quoted or recorded by ASX)?
Attaching +Security - New class (+securities in a class that is not yet quoted or recorded by ASX)
Details of attaching +securities proposed to be issued
ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs issued over them)
ISIN Code for the entitlement or right to participate in a non-renounceable issue (if Issuer is
foreign company and +securities do not have +CDIs issued over them)
Have you received confirmation from ASX that the terms
of the proposed +securities are appropriate and Will the entity be seeking quotation of the 'new' class of
New class
Yes
Yes
Yes
Appendix 3B - Proposed issue of securities
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of the proposed +securities are appropriate and
equitable under listing rule 6.1?
Will the entity be seeking quotation of the 'new' class of
+securities on ASX?
ASX +security code
New class-code to be confirmed
+Security description
Options to acquire fully paid shares exercisable at $0.03,
expiry 31.1.2027
+Security type
Options
Offer ratio (ratio of attaching securities at which the new +securities will be issued)
The quantity of attaching +securities to be issued
1
For a given quantity of the new +securities issued
1
What will be done with fractional entitlements?
Fractions rounded down to the nearest whole number or
fractions disregarded
Maximum number of +securities proposed to be issued
(subject to rounding)
146,610,377
Offer price details for retail security holders
In what currency will the offer be made?
AUD - Australian Dollar
What is the offer price per +security for the retail offer?
AUD 0.00000
Oversubscription & Scale back details
Will individual +security holders be permitted to apply
for more than their entitlement (i.e. to over-subscribe)?
Describe the limits on over-subscription
Shortfall Shares will be allocated by the Directors in priority to Eligible Shareholders, subject to overriding Board discretion
(including as to scale backs) and an Eligible Shareholder¿s Voting Power not increasing above 10% as a result.
Will a scale back be applied if the offer is
over-subscribed?
Describe the scale back arrangements
Shortfall Shares will be allocated by the Directors in priority to Eligible Shareholders, subject to overriding Board discretion
(including as to scale backs) and an Eligible Shareholder¿s Voting Power not increasing above 10% as a result.
Will all the +securities issued in this class rank equally in all respects from their issue date?
Options details
+Security currency
AUD - Australian Dollar
Exercise price
AUD 0.0300
Expiry date
31/1/2027
Details of the type of +security that will be issued if the option is exercised
Yes
Yes
Yes
Yes
No
Appendix 3B - Proposed issue of securities
Appendix 3B - Proposed issue of securities 6 / 8
Details of the type of +security that will be issued if the option is exercised
EMU : ORDINARY FULLY PAID
Number of securities that will be issued if the option is exercised
146,610,377
Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities
proposed to be issued or provide the information by separate announcement.
www.emunl.com.au
Part 3C - Timetable
3C.1 +Record date
30/3/2026
3C.2 Ex date
27/3/2026
3C.4 Record date
30/3/2026
3C.5 Date on which offer documents will be sent to +security holders
entitled to participate in the +pro rata issue
2/4/2026
3C.6 Offer closing date
16/4/2026
3C.7 Last day to extend the offer closing date
13/4/2026
3C.9 Trading in new +securities commences on a deferred settlement basis
17/4/2026
3C.11 +Issue date and last day for entity to announce results of +pro rata
issue
22/4/2026
3C.12 Date trading starts on a normal T+2 basis
23/4/2026
3C.13 First settlement date of trades conducted on a +deferred settlement
basis and on a normal T+2 basis
27/4/2026
Appendix 3B - Proposed issue of securities
Appendix 3B - Proposed issue of securities 7 / 8
Part 3E - Fees and expenses
3E.1 Will there be a lead manager or broker to the proposed offer?
3E.1a Who is the lead manager/broker?
Martin Place Securities Pty Ltd
3E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?
Management fee equal to 1% (plus GST) of the total Offer amount
and
Shortfall placement fee of 5% (plus GST) of the total subscription price for the Shortfall Shares not allocated to
Eligible Shareholders.
and
30 million broker options (being issued on the same basis as the free attaching options on issue under the
Non-Renounceable Rights issue, exercisable at $0.03 each on or before 31 January 2027.
3E.2 Is the proposed offer to be underwritten?
3E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a
handling fee or commission?
3E.3a Will the handling fee or commission be Dollar based or Percentage based?
3E.3b Amount of any handling fee or commission payable to brokers who lodge acceptances or renunciations on
behalf of eligible security holders
4.000000 %
3E.3c Please provide any other relevant information about the handling fee or commission method
Fee to be settled by the Lead Broker
3E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer
The Company will also reimburse the Lead Broker for all costs and expenses incidental to the Offer up to an amount of
$5,000, and reimbursement of facilitation fees of ~$2,000 if DvP settlement is used for the Shortfall.
Expenses totaling up to $271,582 (incl broker fees) as detailed in the Offer documents.
Part 3F - Further Information
3F.1 The purpose(s) for which the entity intends to use the cash raised by the proposed issue
Exploration on the Company's projects including drilling mineral exploration targets and, if applicable, acquisition of further
prospects, working capital and expenses of the Offer
3F.2 Will holdings on different registers or subregisters be aggregated for the purposes of determining
entitlements to the issue?
3F.3 Will the entity be changing its dividend/distribution policy if the proposed issue is successful?
3F.4 Countries in which the entity has +security holders who will not be eligible to participate in the proposed
issue
Chile, Mauritius, Monaco, Saint Kitts, Singapore, USA
3F.5 Will the offer be made to eligible beneficiaries on whose behalf eligible nominees or custodians hold existing
+securities
3F.5a Please provide further details of the offer to eligible beneficiaries
Yes
No
No
Percentage based (%)
Yes
No
Yes
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3F.5a Please provide further details of the offer to eligible beneficiaries
Instructions will be received from nominees or custodians if eligibility can be verified.
3F.6 URL on the entity's website where investors can download information about the proposed issue
www.emunl.com.au
3F.7 Any other information the entity wishes to provide about the proposed issue
3F.8 Will the offer of rights under the rights issue be made under a +disclosure document or product disclosure
statement under Chapter 6D or Part 7.9 of the Corporations Act (as applicable)?
3F.9 Any on-sale of the +securities proposed to be issued within 12 months of their date of issue will comply with
the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of:
The publication of a +disclosure document or +PDS for the +securities proposed to be issued
Yes
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