New Constitution Pursuant to ASX Listing Rule 15.4.2, enclosed is a copy of the new constitution of Austral Gold Limited, as adopted by shareholders at the Company’s Annual General Meeting held on 30th May 2019. Sincerely,
MEDIA RELEASE
Austral Gold Limited 31 May 2019
New Constitution
Pursuant to ASX Listing Rule 15.4.2, enclosed is a copy of the new constitution of Austral Gold Limited, as adopted by shareholders at the Company’s Annual General Meeting held on 30th May 2019.
Sincerely,
Andrew Bursill Company Secretary +61 (2) 9698 5414
Austral Gold Limited ABN 30 075 860 472 ASX: AGD TSXV: AGLD Level 5 126 Phillip St, Sydney NSW 2000 | T +61 2 9380 7233 | F +61 2 9251 7455 | [email protected] | www.australgold.com CORPORATIONS ACT 2001 Constitution
AUSTRAL GOLD LIMITED
ABN 30 075 860 472
AUSTRAL GOLD LIMITED | ABN 30 075 860 471 | CONSTITUTION 30 NOV 16 Page 0 /
Contents
1 INTERPRETATION ............................................................................................................................................................................ 7 1.1 Definitions .............................................................................................................................................................................7 1.2 Corporations Act Definitions ..............................................................................................................................................8 1.3 Status of Constitution .........................................................................................................................................................8 1.4 Headings ................................................................................................................................................................................9 1.5 Displacement of Replaceable Rules ..................................................................................................................................9
2 SHARE CAPITAL AND VARIATION OF RIGHTS .......................................................................................................................... 9 2.1 Rights Attaching to Shares .................................................................................................................................................9 2.2 Issue of Shares .....................................................................................................................................................................9 2.3 Share Options .......................................................................................................................................................................9 2.4 Classes of Shares ..................................................................................................................................................................9 2.5 Preference Shares ................................................................................................................................................................9 2.6 Recognition of Trusts ..........................................................................................................................................................9 2.7 Unregistered Interests ........................................................................................................................................................9 2.8 Share Certificates and Share Option Certificates ........................................................................................................ 10 2.9 Section 1071H of the Corporations Act......................................................................................................................... 10 2.10 Commissions ...................................................................................................................................................................... 10 2.11 Restricted Securities ......................................................................................................................................................... 10 2.12 Non-Issue or Cancellation of Certificate ....................................................................................................................... 10 2.13 No Prohibition on Foreign Ownership ........................................................................................................................... 11 2.14 Payment of Interest out of Capital................................................................................................................................. 11
3 MINIMUM SHAREHOLDING ............................................................................................................................................... 11 3.1 Effect of this Clause .......................................................................................................................................................... 11 3.2 Definitions .......................................................................................................................................................................... 11 3.3 Minimum Shareholding ................................................................................................................................................... 11 3.4 Sale of Listed Securities of Minority Member .............................................................................................................. 11 3.5 Acceptance of Offer ......................................................................................................................................................... 12 3.6 Appointment of Attorney ................................................................................................................................................ 12 3.7 Transfer .............................................................................................................................................................................. 12 3.8 Proceeds of Sale ................................................................................................................................................................ 12 3.9 Receipt of Proceeds .......................................................................................................................................................... 13 3.10 Registration of Purchaser ................................................................................................................................................ 13 3.11 Remedies Limited ............................................................................................................................................................. 13 3.12 Cost of Sale of Listed Securities ...................................................................................................................................... 13 3.13 Exemption from Clause 3 ................................................................................................................................................ 13 3.14 Notice to Exempt .............................................................................................................................................................. 13 3.15 Election to Exempt ........................................................................................................................................................... 13 3.16 Takeover Offer or Announcement ................................................................................................................................. 13 3.17 Use by Company of Clause 3 ........................................................................................................................................... 13
4 UNCERTIFICATED HOLDINGS AND ELECTRONIC TRANSFERS ......................................................................... 14 4.1 Electronic or Computerised Holding .............................................................................................................................. 14 4.2 Statement of Holdings ..................................................................................................................................................... 14 4.3 Share Certificates .............................................................................................................................................................. 14 4.4 Listing Rules ....................................................................................................................................................................... 14
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5 LIEN ................................................................................................................................................................................................... 14 5.1 Lien for Members Debts .................................................................................................................................................. 14 5.2 Generally ............................................................................................................................................................................ 14 5.3 Exemption .......................................................................................................................................................................... 15 5.4 Dividends ........................................................................................................................................................................... 15 5.5 Sale of Shares .................................................................................................................................................................... 15 5.6 Restrictions on Sale .......................................................................................................................................................... 15 5.7 Person Authorised to Sign Transfers ............................................................................................................................. 15 5.8 Proceeds of Sale ................................................................................................................................................................ 15 5.9 Protection of Lien under ASTC Settlement Rules ........................................................................................................ 15 5.10 Further Powers re Forfeited Shares and Liens ............................................................................................................. 15
6 CALLS ON SHARES ......................................................................................................................................................................... 16 6.1 Calls ..................................................................................................................................................................................... 16 6.2 Payment of Calls ............................................................................................................................................................... 16 6.3 Quoted Shares ................................................................................................................................................................... 16 6.4 Unquoted Shares .............................................................................................................................................................. 16 6.5 Joint Liability ...................................................................................................................................................................... 16 6.6 Deemed Calls ..................................................................................................................................................................... 16 6.7 Differentiation between Shareholders.......................................................................................................................... 16 6.8 Payments in Advance of Calls ......................................................................................................................................... 16 6.9 Outstanding Moneys ........................................................................................................................................................ 17 6.10 Revocation or Postponement ......................................................................................................................................... 17 6.11 Compliance with Listing Rules and Corporations Act ................................................................................................. 17
7 FORFEITURE OF SHARES .............................................................................................................................................................. 17 7.1 Failure to Pay Call ............................................................................................................................................................. 17 7.2 Forfeiture ........................................................................................................................................................................... 17 7.3 Sale of Forfeited Shares ................................................................................................................................................... 17 7.4 Continuing Liability ........................................................................................................................................................... 17 7.5 Officer’s Statement Prima Facie Evidence .................................................................................................................... 18 7.6 Procedures ......................................................................................................................................................................... 18 7.7 Listing Rules and ASTC Settlement Rules ...................................................................................................................... 18
8 TRANSFER OF SHARES ................................................................................................................................................................. 18 8.1 Form of Transfer ............................................................................................................................................................... 18 8.2 CHESS Transfers ................................................................................................................................................................ 18 8.3 Participation in CHESS ...................................................................................................................................................... 18 8.4 Registration Procedure .................................................................................................................................................... 18 8.5 Power to Refuse to Register ........................................................................................................................................... 19 8.6 Closure of Register ........................................................................................................................................................... 19 8.7 Retention of Transfers by Company .............................................................................................................................. 19 8.8 Powers of Attorney .......................................................................................................................................................... 19 8.9 Other Securities ................................................................................................................................................................ 19 8.10 Branch Register ................................................................................................................................................................. 19 8.11 Compliance with ASTC Settlement Rules ...................................................................................................................... 19 8.12 Issuer Sponsored Subregister ......................................................................................................................................... 19 8.13 Transferor Holds Shares until Registration of Transfer .............................................................................................. 19
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9 TRANSMISSION OF SHARES ....................................................................................................................................................... 20 9.1 Death of Shareholder Leaving a Will ............................................................................................................................. 20 9.2 Death or Bankruptcy of Shareholder ............................................................................................................................. 20 9.3 Registration by Transmission or to Beneficiary ........................................................................................................... 20 9.4 Limitations to Apply ......................................................................................................................................................... 20 9.5 Death of a Joint Holder .................................................................................................................................................... 20 9.6 Joint Personal Representatives ...................................................................................................................................... 20 9.7 ASTC Transfer .................................................................................................................................................................... 20 9.8 Joint Holders ...................................................................................................................................................................... 20
10 CHANGES TO CAPITAL STRUCTURE .......................................................................................................................................... 20 10.1 Alterations to Capital ....................................................................................................................................................... 21 10.2 Reduction of Capital ......................................................................................................................................................... 21 10.3 Buy-Backs ........................................................................................................................................................................... 21
11 GENERAL MEETINGS .................................................................................................................................................................... 21 11.1 Convening of General Meetings of Shareholders ........................................................................................................ 21 11.2 Cancellation of a General Meeting of Shareholders ................................................................................................... 21 11.3 Convening of General Meetings of Shareholders by a Director ................................................................................ 21 11.4 Notice ................................................................................................................................................................................. 21 11.5 Notice to Home Branch ................................................................................................................................................... 22 11.6 Annual General Meeting ................................................................................................................................................. 22
12 PROCEEDINGS AT GENERAL MEETINGS .................................................................................................................................. 22 12.1 Quorum .............................................................................................................................................................................. 22 12.2 Persons Entitled to Attend a General Meeting ............................................................................................................ 22 12.3 Refusal of Admission to Meetings ................................................................................................................................. 22 12.4 Chairman ............................................................................................................................................................................ 23 12.5 Vacating Chair ................................................................................................................................................................... 23 12.6 Disputes Concerning Procedure ..................................................................................................................................... 23 12.7 General Conduct ............................................................................................................................................................... 23 12.8 Casting Vote ....................................................................................................................................................................... 23 12.9 Adjournment ..................................................................................................................................................................... 23 12.10 Notice of Resumption of Adjourned Meeting .............................................................................................................. 23 12.11 Voting Rights ..................................................................................................................................................................... 23 12.12 Voting - Show of Hands ................................................................................................................................................... 24 12.13 Results of Voting ............................................................................................................................................................... 24 12.14 Poll ...................................................................................................................................................................................... 24 12.15 Manner of Taking Poll ...................................................................................................................................................... 24 12.16 Meeting May Continue .................................................................................................................................................... 24 12.17 Voting by Joint Holders .................................................................................................................................................... 24 12.18 Shareholder under Disability .......................................................................................................................................... 24 12.19 Payment of Calls ............................................................................................................................................................... 24 12.20 Objection to Voting .......................................................................................................................................................... 24 12.21 Proxies ................................................................................................................................................................................ 25 12.22 Electronic Appointment of Proxy ................................................................................................................................... 25 12.23 Proxy Votes ........................................................................................................................................................................ 25 12.24 Representatives of Corporate Shareholders ................................................................................................................ 25 12.25 Direct Voting ...................................................................................................................................................................... 25
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13 THE DIRECTORS ............................................................................................................................................................................. 26 13.1 Number of Directors ........................................................................................................................................................ 26 13.2 Rotation of Directors ........................................................................................................................................................ 26 13.3 Election of Directors ......................................................................................................................................................... 26 13.4 Additional Directors ......................................................................................................................................................... 26 13.5 Removal of Director ......................................................................................................................................................... 26 13.6 Vacation of Office ............................................................................................................................................................. 27 13.7 Remuneration of Directors ............................................................................................................................................. 27 13.8 Expenses ............................................................................................................................................................................. 27 13.9 No Share Qualification ..................................................................................................................................................... 27
14 POWERS AND DUTIES OF DIRECTORS ..................................................................................................................................... 27 14.1 Management of the Company ........................................................................................................................................ 27 14.2 Borrowings ......................................................................................................................................................................... 28 14.3 Attorneys ........................................................................................................................................................................... 28 14.4 Cheques, etc. ..................................................................................................................................................................... 28 14.5 Retirement Benefits for Directors .................................................................................................................................. 28 14.6 Securities to Directors or Shareholders ........................................................................................................................ 28
15 PROCEEDINGS OF DIRECTORS ................................................................................................................................................... 29 15.1 Convening a Meeting ....................................................................................................................................................... 29 15.2 Procedure at Meetings .................................................................................................................................................... 29 15.3 Quorum .............................................................................................................................................................................. 29 15.4 Majority Decisions ............................................................................................................................................................ 29 15.5 Casting Votes ..................................................................................................................................................................... 29 15.6 Alternate Directors ........................................................................................................................................................... 29 15.7 Continuing Directors May Act ......................................................................................................................................... 29 15.8 Chairman ............................................................................................................................................................................ 30 15.9 Committees ....................................................................................................................................................................... 30 15.10 Written Resolutions ......................................................................................................................................................... 30 15.11 Defective Appointment ................................................................................................................................................... 30 15.12 Directors May Hold Other Offices .................................................................................................................................. 30 15.13 Directors May Hold Shares, etc. ..................................................................................................................................... 30 15.14 Directors Not Accountable for Benefits ........................................................................................................................ 30 15.15 Disclosure of Interests in Related Matters ................................................................................................................... 31 15.16 Disclosure of Shareholding .............................................................................................................................................. 31 15.17 Related Body Corporate Contracts ................................................................................................................................ 31 15.18 Voting, Affixation of Seal ................................................................................................................................................. 31 15.19 Home Branch to be Advised............................................................................................................................................ 31
16 MEETING BY INSTANTANEOUS COMMUNICATION DEVICE.............................................................................................. 32 16.1 Meetings to be Effectual ................................................................................................................................................. 32 16.2 Procedure at Meetings .................................................................................................................................................... 32 16.3 Minutes .............................................................................................................................................................................. 32 16.4 Definition ........................................................................................................................................................................... 32
17 MANAGING AND EXECUTIVE DIRECTORS .............................................................................................................................. 32 17.1 Appointment ..................................................................................................................................................................... 32 17.2 Remuneration ................................................................................................................................................................... 32 17.3 Powers ................................................................................................................................................................................ 33 17.4 Rotation .............................................................................................................................................................................. 33 17.5 Secretary ............................................................................................................................................................................ 33
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18 SEALS ................................................................................................................................................................................................ 33 18.1 Common Seal .................................................................................................................................................................... 33 18.2 Share Seal ........................................................................................................................................................................... 33
19 ACCOUNTS, AUDIT AND RECORDS ........................................................................................................................................... 34 19.1 Accounting records to be kept ....................................................................................................................................... 34 19.2 Audit ................................................................................................................................................................................... 34 19.3 Inspection .......................................................................................................................................................................... 34
20 MINUTES ......................................................................................................................................................................................... 34 20.1 Minutes to be Kept ........................................................................................................................................................... 34 20.2 Signature of Minutes ........................................................................................................................................................ 34 20.3 Requirements of the Corporations Act ......................................................................................................................... 34
21 DIVIDENDS AND RESERVES ........................................................................................................................................................ 34 21.1 Dividends ........................................................................................................................................................................... 34 21.2 Interim Dividend ............................................................................................................................................................... 34 21.3 No Interest ......................................................................................................................................................................... 34 21.4 Reserves ............................................................................................................................................................................. 34 21.5 Alternative Method of Payment of Dividend ............................................................................................................... 35 21.6 Payment of Dividends ...................................................................................................................................................... 35 21.7 Unclaimed Dividends ....................................................................................................................................................... 35
22 CAPITALISATION OF PROFITS .................................................................................................................................................... 35 22.1 Capitalisation ..................................................................................................................................................................... 35 22.2 Application of Capitalised Amounts .............................................................................................................................. 35 22.3 Procedures ......................................................................................................................................................................... 36
23 BONUS SHARE PLAN .................................................................................................................................................................... 36 23.1 Authorisation of Bonus Share Plan ................................................................................................................................ 36 23.2 Amendment and Revocation .......................................................................................................................................... 36
24 DIVIDEND REINVESTMENT PLAN .............................................................................................................................................. 36 24.1 Authorisation of Dividend Reinvestment Plan ............................................................................................................. 36 24.2 Amendment and Revocation .......................................................................................................................................... 36
25 NOTICES ........................................................................................................................................................................................... 36 25.1 Service ................................................................................................................................................................................ 36 25.2 Deemed receipt of Notice ............................................................................................................................................... 37 25.3 Notice to Joint Holders .................................................................................................................................................... 37 25.4 Notices to Personal Representatives and Others ........................................................................................................ 37 25.5 Persons Entitled to Notice ............................................................................................................................................... 37 25.6 Meaning of “Notice” ........................................................................................................................................................ 37 25.7 Change of Address ............................................................................................................................................................ 38 25.8 Incorrect Address .............................................................................................................................................................. 38
26 WINDING UP .................................................................................................................................................................................. 38 26.1 Distribution in Kind ........................................................................................................................................................... 38 26.2 Trust for Shareholders ..................................................................................................................................................... 38 26.3 Order for winding up ........................................................................................................................................................ 38
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27 INDEMNITIES AND INSURANCE ................................................................................................................................................ 38 27.1 Liability to Third Parties ................................................................................................................................................... 38 27.2 Defending Proceedings .................................................................................................................................................... 39 27.3 Insurance ............................................................................................................................................................................ 39 27.4 Disclosure ........................................................................................................................................................................... 39 27.5 Definition ........................................................................................................................................................................... 39
28 OVERSEAS SHAREHOLDERS ........................................................................................................................................................ 39
29 LOCAL MANAGEMENT ................................................................................................................................................................. 40 29.1 Local Management ........................................................................................................................................................... 40 29.2 Local Boards or Agencies ................................................................................................................................................. 40 29.3 Appointment of Attorneys .............................................................................................................................................. 40 29.4 Authority of Attorneys ..................................................................................................................................................... 40
30 DISCOVERY...................................................................................................................................................................................... 40
31 SALE OF THE COMPANY'S MAIN UNDERTAKING ................................................................................................................. 40
32 COMPLIANCE (OR INCONSISTENCY) WITH THE LISTING RULES ....................................................................................... 40
33 CONSISTENCY WITH CHAPTER 2E OF THE CORPORATIONS ACT ...................................................................................... 41 33.1 Requirements of Chapter 2E ........................................................................................................................................... 41 33.2 Definitions .......................................................................................................................................................................... 41
34 TRANSITIONAL ............................................................................................................................................................................... 41 34.1 Provisions Relating to Official Quotation of Securities ............................................................................................... 41 34.2 Severance ........................................................................................................................................................................... 41
SCHEDULE 1 ...................................................................................................................................................... 42
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CORPORATIONS ACT
CONSTITUTION
of AUSTRAL GOLD LIMITED
1 INTERPRETATION
1.1 Definitions
In this Constitution:
Alternate Director means a person appointed as an alternate director under clause 15.6.
ASIC means Australian Securities and Investments Commission.
ASTC Settlement Rules mean the settlement rules of Australian Settlement and Transfer Corporation Pty Ltd.
ASTC Transfer means a transfer of quoted securities or quoted rights effected in:
a)
accordance with the ASTC Settlement Rules; or
b) substantial accordance with the ASTC Settlement Rules and determined by the Australian Settlement and Transfer Corporation to be an effective transfer.
ASX means Australian Stock Exchange Limited.
Auditor means the Company’s auditor.
Bonus Share Plan means a plan implemented under clause 23.
Business Day means a day other than a Saturday, a Sunday, New Year's Day, Australia Day, Good Friday, Easter Monday, Anzac Day, Christmas Day, Boxing Day and any other day declared and published by ASX to be a day which is not a business day.
CHESS Approved Securities means securities of the Company for which CHESS approval has been given in accordance with the ASTC Settlement Rules, or such amended definition as may be prescribed by the Listing Rules from time to time.
CHESS System means the Clearing House Electronic Subregister System operated by Australian Settlement and Transfer Corporation Pty Ltd or such other securities clearing house as is approved pursuant to the Corporations Act and to which the Listing Rules apply.
Company means Austral Gold Limited (ABN 30 075 860 472) or as it is from time to time named in accordance with the Corporations Act of this jurisdiction.
Constitution means this constitution as altered or amended from time to time.
Corporations Act means the Corporations Act 2001 (Cth).
Corporations Regulations means the Corporations Regulations 2001 (Cth).
Director means a person appointed to the position of a director of the Company and where appropriate, includes an Alternate Director.
Directors means all or some of the Directors acting as a board.
Dividend Reinvestment Plan means a plan implemented under clause 24.
Home Branch means the state branch of ASX designated as such in relation to the Company by ASX.
Listed Securities means any Shares, Share Options, stock, debentures, debenture stock or other securities for the time being issued by the Company and officially quoted by ASX on its stock market.
Listing Rules means the listing rules of ASX and any other rules of ASX which are applicable while the Company is admitted to the official list of ASX, each as amended or replaced from time to time, except to the extent of any express written waiver by ASX.
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Loan Securities includes:
a) unsecured notes or unsecured deposit notes;
b) mortgage debentures or mortgage debenture stock;
c) debentures or debenture stock; and
d) for the purposes of the Listing Rules, convertible loan securities.
Office means the registered office of the Company.
Officer means any Director or Secretary of the Company or such other person within the meaning of that term as defined by the Corporations Act.
Prescribed Rate means the rate of 18% per annum or such other rate as may from time to time be fixed by the Directors.
Registered Office means the registered office of the Company in the State.
Register of Shareholders means the register of Shareholders kept by the Company in accordance with Section 169 of the Corporations Act (including any branch register and any computerised or electronic subregister established and administered under the ASTC Settlement Rules).
Related Body Corporate means a corporation which by virtue of the provisions of Section 50 of the Corporations Act is deemed to be related to the relevant corporation and related has a corresponding meaning.
Representative means a person authorised to act as a representative of a corporation under clause 12.24.
Restricted Securities has the meaning ascribed to it by the Listing Rules.
Seal means the common seal of the Company and includes any official seal and, where the context so admits, the Share Seal of the Company.
Secretary means any person appointed to perform the duties of a secretary of the Company.
Share means a share in the capital of the Company.
Shareholder means a person or company registered in the Register of Shareholders as the holder of one or more Shares and includes any person or company who is a member of the Company in accordance with or for the purposes of the Corporations Act.
Shareholding Account means an entry in the Register of Shareholders in respect of a Shareholder for the purpose of providing a separate identification of some or all of the ordinary Shares registered from time to time in the name of that Shareholder and Securities Account has an equivalent meaning in relation to Listed Securities of all kinds, including ordinary Shares.
Share Option means an option to require the Company to issue a Share.
Share Seal means the duplicate common seal referred to in clause 18.2.
State means Western Australia.
1.2 Corporations Act Definitions
Any word or expression defined in or for the purposes of the Corporations Act shall, unless otherwise defined in clause 1.1 or the context otherwise requires, have the same meaning when used in this Constitution, and the rules of interpretation specified in or otherwise applicable to the Corporations Act shall, unless the context otherwise requires, apply in the interpretation of this Constitution.
1.3 Status of Constitution
This Constitution is adopted by the Company in substitution for any former memorandum and articles of association or other consistent documents of the Company. To the extent permitted by law, the replaceable rules provided for in the Corporations Act do not apply to the Company.
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1.4 Headings
Headings are inserted in this Constitution for convenience only, and shall not affect the interpretation of this Constitution.
1.5 Displacement of Replaceable Rules
The provisions of the Corporations Act that apply to public companies as replaceable rules are displaced completely by this Constitution in relation to the Company.
2 SHARE CAPITAL AND VARIATION OF RIGHTS
2.1 Rights Attaching to Shares
Subject to this Constitution and to the terms of issue of Shares, all Shares attract the right to receive notice of and to attend and vote at all general meetings of the Company, the right to receive dividends, in a winding up or a reduction of capital, the right to participate equally in the distribution of the assets of the Company (both capital and surplus), subject to any amounts unpaid on the Share and, in the case of a reduction, to the terms of the reduction.
2.2 Issue of Shares
Without prejudice to any special rights previously conferred on the holders of any existing Shares or class of Shares, unissued Shares shall be under the control of the Directors and, subject to the Corporations Act, the Listing Rules and this Constitution, the Directors may at any time issue such number of Shares either as ordinary Shares or Shares of a named class or classes (being either an existing class or a new class) at the issue price that the Directors determine and with such preferred, deferred, or other special rights or such restrictions, whether with regard to dividend, voting, return of capital or otherwise, as the Directors shall, in their absolute discretion, determine.
2.3 Share Options
Subject to the Listing Rules, the Directors may at any time and from time to time issue Share Options on such terms and conditions as the Directors shall, in their absolute discretion, determine.
2.4 Classes of Shares
If at any time the share capital of the Company is divided into different classes of Shares, the rights attached to any class (unless otherwise provided by the terms of issue of the Shares of that class) may be varied, whether or not the Company is being wound up, with the consent in writing of the holders of three quarters of the issued Shares of that class, or if authorised by a special resolution passed at a separate meeting of the holders of the Shares of the class. Any variation of rights under this clause 2.4 shall be subject to Part 2F.2 of Chapter 2F of the Corporations Act. The provisions of this Constitution relating to general meetings shall apply so far as they are capable of application and with necessary alterations to every such separate meeting except that a quorum is constituted by two persons who together hold or represent by proxy not less than one-third of the issued Shares of the class.
2.5 Preference Shares
Subject to the Listing Rules and the Corporations Act, the Company may issue preference Shares:
a) that are liable to be redeemed whether at the option of the Company or otherwise; and
b) including, without limitation preference shares of the kind described in clause 2.5 a) in accordance with the terms of Schedule 1.
2.6 Recognition of Trusts
Except as permitted or required by the Corporations Act, the Company shall not recognise a person as holding a Share or Share Option upon any trust.
2.7 Unregistered Interests
The Company is not bound by or compelled in any way to recognise any equitable, contingent, future or partial right or interest in any Share or Share Option (whether or not it has notice of the interest or right
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concerned) unless otherwise provided by this Constitution or by law, except an absolute right of ownership in the registered holder of the Share or Share Option.
2.8 Share Certificates and Share Option Certificates
Subject to the ASTC Settlement Rules (if applicable), clause 4 and the Listing Rules, a person whose name is entered as a Shareholder in the Register of Shareholders is entitled without payment to receive a Share certificate or notice (as the case may be) in respect of the Share under the Seal in accordance with the Corporations Act but, in respect of a Share or Shares held jointly by several persons, the Company is not bound to issue more than one certificate or notice. Delivery of a certificate or notice for a Share to one of several joint Shareholders is sufficient delivery to all such holders. In addition:
a) Share certificates or notices in respect of Shares shall only be issued in accordance with the Listing Rules;
b) subject to this Constitution, the Company shall despatch all appropriate Share certificates within 5 Business Days of the issue of any of its Shares and within 5 Business Days after the date upon which a transfer of any of its Shares is lodged with the Company;
c) where a Share certificate is lost, worn out or destroyed, the Company shall issue a duplicate certificate in accordance with the requirements of Section 1070D of the Corporations Act and the Listing Rules; and
d) the above provisions of this clause 2.8 shall, with necessary alterations, apply to Share Options.
If securities of the Company are CHESS Approved Securities and held in uncertificated mode, then the preceding provisions of this clause 2.8 do not apply to those Securities and the Company shall allot such CHESS Approved Securities and enter those CHESS Approved Securities into the Shareholder's uncertificated holding in accordance with the Listing Rules and the ASTC Settlement Rules.
2.9 Section 1071H of the Corporations Act
Clause 2.8 shall not apply if and to the extent that, on an application by or on behalf of the Company, the ASIC has made a declaration under Section 1071H(5) of the Corporations Act published in the Commonwealth of Australia Gazette that the Company is a person in relation to whom Section 1071H of the Corporations Act does not apply.
2.10 Commissions
The Company may, subject to the Listing Rules, exercise the powers of paying commission conferred by Section 258C of the Corporations Act if the percentage or the amount of the commission paid or agreed to be paid is disclosed. Such commission may be satisfied by the payment of cash or the allotment of fully or partly paid Shares or partly in the one way and partly in the other. The Company may also on any issue of Shares pay such brokerage as may be lawful.
2.11 Restricted Securities
The Company shall comply in all respects with the requirements of the Listing Rules with respect to Restricted Securities. Without limiting the generality of the above:
a)
Restricted Securities cannot be disposed of during the escrow period except as permitted by the Listing Rules or the ASX;
b) the Company will refuse to acknowledge a disposal (including registering a transfer), assignment or transfer of Restricted Securities during the escrow period except as permitted by the Listing Rules or the ASX; and
c) during a breach of the Listing Rules relating to Restricted Securities or a breach of a restriction agreement the holder of the Restricted Securities is not entitled to any dividend or distribution, or voting rights, in respect of the Restricted Securities.
2.12 Non-Issue or Cancellation of Certificate
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