Placement - Issue of Securities and TVR

ASX-RNS Announcement

3 August 2022

ASX: SYN / AIM: SYN

Further to Synergia Energy Ltd's (Synergia or the Company) (formerly named Oilex Ltd) announcement on 4 May 2022, advising of an equity fund raise of £2.5 million (A$4.4 million), before costs, to fund the refraccing of the Cambay 77H well in India and the continued development of the Company's plans to undertake a drilling and testing appraisal program on the Cambay field, the Company is pleased to announce it has issued 104,898,836 fully paid ordinary shares (the final portion of the Tranche 2 Shares) at GBP 0.20 pence (AUD 0.35 cents) per share and therefore received £0.21 million (A$0.37 million) from subscribers.

The Company has issued the final 104,898,836 Tranche 2 Shares under the Company's current ASX Listing Rule 7.1 placement capacity which was refreshed at the general meeting of shareholders held on 13 July 2022.

AIM Admission and Total Voting Rights 

Application has been made to the London Stock Exchange plc for the admission of 104,898,836 Shares to trade on AIM (Admission), which is expected to take effect on or around 8 August 2022.  Following Admission, the Company will have 8,417,790,704 shares on issue. The Company does not currently hold any shares in treasury. Accordingly, the total number of voting rights will be 8,417,790,704.

Section 708A(5)(e) Statement (Cleansing Notice)

The Corporations Act (Cth) (Act) restricts the on-sale of securities issued without disclosure, unless the sale is exempt under section 708 or 708A of the Act. By giving this notice, the on sale of the Shares noted above will fall within the exemption in section 708A(5) of the Act.

Pursuant to the issue of the 104,898,836 Ordinary Shares on 3 August 2022, Synergia Energy gives notice under section 708A(5)(e) of the Act that:

1) Synergia Energy issued the Shares without disclosure to investors under Part 6D.2 of the Act;

2) As at the date of this notice, Synergia Energy has complied with:

a) the provisions of Chapter 2M of the Act as they apply to Synergia Energy; and

b) section 674 of the Act; and

3) As at the date of this notice, there is no information:

(i) That has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and

(ii) That investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:

A. The assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

B. The rights and liabilities attaching to the Shares.

The relevant Appendix 2A was lodged via ASX on-line forms

For and on behalf of Synergia Energy Ltd

Lisa Wynne

Company Secretary

This announcement was authorised for release by the Board of Synergia Energy Ltd.

For further information, please contact: