KLEOS SPACE S.A. (ASX.KSS)

Shareholders in this company should consider crystallising a capital loss in 2024/25 by selling their shares. This process is now much easier and quicker. It can be achieved online by entering transaction details here. While, this usually makes good economic sense we recommend you seek professional advice before buying or selling securities, your accountant is probably the best person.

delisted for non-payment of annual listing fee under Listing Rule 17.15

we understand the entity failed to pay the annual listing fee

The bankruptcy filing in Luxembourg, which was initially envisaged to be lodged by 26 August 2023, based on the information available at that time, is no longer expected to be made on that timeline given the current situation of the Company. The Company received formal Expressions of Interest from multiple parties regarding the Company and its assets. The Board appointed a specialist to run a formal process with the objective of realising value for all parties from the Company and/or its assets. The current process calls for binding offers to be submitted on 31 August 2023. The Company's financier said that due to the level of interest received from parties, forbearance will now be extended on the loan facility term to allow the process to conclude. There is now a a credible prospect of viable alternative financial accommodation that would enable the Company to meet its financial commitments. The Company's Board has considered that the cumulative legal conditions for bankruptcy are not met on the date hereof and, on that basis, has decided not to file for bankruptcy with the relevant commercial district court in Luxembourg as initially envisaged, until further notice.

The company releases a notification of cessation of securities.

Under Listing Rule 17.6, an entity (if not already suspended) that had not paid its annual listing fees by close of business on Monday, 21 August 2023 would have its securities suspended from Official Quotation before the commencement of trading on Tuesday, 22 August 2023. The following entity has failed to pay to ASX Limited the annual listing fees for the year ending 30 June 2024 and consequently will have its securities suspended from quotation immediately. The company has failed to pay to ASX the annual listing fees for the year ending 30 June 2024, and its securities are already suspended from quotation.

The company's mandated broker has been unable to secure the required commitments to progress the converting note facility previously advised to the market. The company's financier will no longer extend forbearance on the loan facility terms or provide additional credit, and called the loans and other accrued amounts immediately due and payable. The Board acknowledges that the company is unable to meet its financial commitments as they fall due, and that there is no prospect of viable alternative financial accommodation and will petition the relevant commercial district court in Luxembourg for a bankruptcy adjudication. The company is preparing documentation to support the petition, which must be filed within 30 days.

The company is still working with its mandated broker to progress a secured converting note facility, which will fund initiatives to advance technical, commercial, and corporate milestones in 2023. The company has received additional support from the company's financier, which has allowed an additional draw down of A$650,000 under its existing debt facility. This funding should provide working capital for the company through to the second half of July 2023, while a capital-raising transaction is being completed. Following a regular technical review of the Kleos satellite constellation, the company has determined to impair two satellites (one each from KFS2 cluster and KSF3 cluster), given that management has formed the view that the chance of successfully addressing the technical issues affecting operational value is low (≤50%). The impairments are expected to result in a non-cash expense of EUR 1.5 million in the company's accounts. Notwithstanding the impairment, recovery and repurposing efforts for the KSF3 satellite will continue after the clusters are fully commissioned. If the KSF3 satellite is brought back into operation, a reversal of the impairment will be pursued.

The company releases a notification of cessation of securities.

The company issues a response to the ASX Query.

The Company has received further support from its financier, PURE Asset Management, allowing the drawdown of an additional tranche under the Pure facility that will provide working capital for the Company through to 18 June 2023, while a capital raising transaction is being completed. The Company has signed a mandate with a broker to manage a secured converting note issue, with Pure agreeing to participate in the converting note. The Company has received encouraging indicative interest in the note and is working to close the facility in the coming weeks. This financing will enable the Company to progress against technical, commercial, and corporate milestones in 2023.

Kleos is presently reviewing a number of potential financing arrangements in consultation with the Company's financiers and external parties. The Company has entered into a strategic partnership with General Atomics Commonwealth Computer Research. By providing an additional sales channel, including Kleos products in its catalogue and providing customer leads, General Atomics will increase the Company's marketing reach. As part of this partnership, Kleos will integrate GA-CCRI's proven OPTIX platform into the launch of two new cutting-edge, geospatial intelligence industry disruptive products.

The company releases a notification regarding unquoted securities.

The company releases a notification of cessation of securities.

The securities of Kleos Space S.A will be suspended from quotation immediately under Listing Rule 17.2, at the request of KSS, pending the release of an announcement regarding the completion of a book building exercise for a capital raise

The suspension of trading in the securities of Kleos Space S.A. will be lifted immediately, following the release by KSS of an announcement regarding a placement.

The company releases a notice of proposed issue of securities.

Placement to new and existing sophisticated and institutional investors in Australia and the U.S. at A$0.85 per CDI, and three attaching options for every five CDIs. Cornerstone investments by Perennial Value Management and Thorney Investment Group. Capital enables Kleos to further grow its satellite constellation and scale its geolocation dataas-a-service offering, operations and core competencies to build on strong customer demand.

The securities of Kleos Space S.A. will be suspended from quotation immediately under Listing Rule 17.2, at the request of KSS, pending the release of an announcement regarding a placement.

listed entity carried for record purposes only