Company: MOBBW
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001013762-25-003365
Chunk: 41

Company: Mobilicom Ltd
Filing Date: 2025-03-27
Form: 20-F
Item: Item 3
Chunk 41
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takeover offers being made for us or may discourage the acquisition of a significant position in our ordinary shares.

We are incorporated in Australia
and are subject to the takeover laws of Australia. Among other things, we are subject to the Australian Corporations Act 2001, or the
Corporations Act. Subject to a range of exceptions, the Corporations Act prohibits the acquisition of a direct or indirect interest in
our issued voting shares if the acquisition of that interest will lead to a person’s voting power (either alone or in combination
with their ‘associates’ as that term is defined in the Corporations Act) in us increasing to more than 20%, or increasing
from a starting point that is above 20% and below 90%. Australian takeover laws may discourage takeover offers being made for us or may
discourage the acquisition of a significant position in our ordinary voting shares. This may have the ancillary effect of entrenching
our board of directors and may deprive or limit our shareholders’ or ADS holders’ opportunity to sell their ordinary shares
or ADSs and may further restrict the ability of our shareholders and ADS holders’ ability to obtain a premium from such transactions.
Our Constitution, which is included as an exhibit to this Annual Report on Form 20-F, also contains a requirement for our shareholders
to approve any proportionate takeover bid (i. e. a bid for a specified proportion of a class of securities in us) without the approval
of a majority of our shareholders voting at a general meeting. The renewal of these provisions has not, however, been approved by shareholders
in the last three years and accordingly the provisions with respect to proportional takeover bids contained in our Constitution have lapsed.
Shareholders may however approve renewal of these provisions in future, which may have the effect of discouraging proportionate takeover
bids and limit our shareholders’ and ADS holders’ opportunity to obtain a premium for their securities from such a transaction.

Anti-takeover provisions in our Constitution
and our right to issue preference shares could make a third-party acquisition of us difficult.

Some provisions of our Constitution
may discourage, delay or prevent a change in control of our company or management that shareholders may consider favorable, including
provisions that only require one-third of our board of directors to be elected annually and authorize our board of directors, subject
to compliance with the Corporations Act, to issue an unlimited number of shares of capital stock and preference shares in one or more
series and to designate the price, rights,