Update to early-conversion incentive

Carbonxt Group Ltd (ASX:CG1) has been advised by ASX that the proposed 10% per annum discount as an early-conversion incentive for all CG1 options gives rise to concerns under Listing Rule 6.23.3. As a result, the company will not seek approval for the Discount to be applied across all options. However, the company will seek shareholder approval to apply the discount in respect of options held by Pure Asset Management and Phelbe Pty Ltd, subject to ASX granting the necessary waiver. The Board will provide a further update in due course. For more details, please refer to the full announcement. Questions are welcome and can be directed to Managing Director Warren Murphy at w.murphy@carbonxt.com or +61 413841216. Carbonxt is a cleantech company that specializes in Activated Carbon products for industrial processes with a focus on capturing harmful pollutants. They produce Powdered Activated Carbon and Activated Carbon pellets for various markets.