Aura Energy Limited (ASX: AEE) has announced that it has applied for the quotation of securities. The company has submitted an application to the Australian Securities Exchange (ASX) for the quotation of 1,000,000 fully paid ordinary shares. The purpose of this application is to facilitate the issuance of these shares to a consultant as part of their remuneration package.
The announcement states, "The securities will be issued without disclosure under Part 6D.2 of the Corporations Act 2001 (Cth) and without a prospectus in reliance on section 708A(5) of the Corporations Act 2001 (Cth)."
This means that the issuance of these shares will be exempt from disclosure requirements and will not require a prospectus. The company is relying on section 708A(5) of the Corporations Act 2001 (Cth) for this exemption.
The purpose of issuing these shares to the consultant is to provide them with a form of remuneration. The announcement does not provide further details on the specific terms of the remuneration package or the consultant's role within the company.
Overall, this announcement highlights Aura Energy Limited's application for the quotation of securities to facilitate the issuance of shares to a consultant as part of their remuneration package.