AIC Mines Limited Josef El-Raghy Group Ceases Substantial Holding on 11 November 2026

Sonal Goyal

12 November 2026 03:57 PM AEDT

AIC Mines Limited Josef El-Raghy Group Ceases Substantial Holding on 11 November 2026

Image Source: Krish Capital Pty Ltd

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

AIC Mines Limited (ASX:A1M) has received a notice disclosing that Josef El-Raghy, together with associated entities Nordana Pty Ltd, El-Raghy Kriewaldt Pty Ltd, and El-Raghy Pty Ltd, ceased to be a substantial holder in the company on 11 November 2026, following a dilution of voting power resulting from the issue of ordinary shares by AIC Mines Limited.

Key Points

The El-Raghy group ceased to be a substantial holder in AIC Mines Limited on 11 November 2026, with the previous substantial holding notice dated 30 June 2025.
The change in relevant interest was caused by dilution of voting power as a result of the issue of ordinary shares by AIC Mines Limited, with the group's total holding remaining at 41,700,000 ordinary shares.
El-Raghy Kriewaldt Pty Ltd participated in a placement on 21 August 2025, acquiring 1,000,000 ordinary shares for $300,000.00.
El-Raghy Kriewaldt Pty Ltd made three on-market purchases between 23 October 2026 and 4 November 2026, acquiring a combined 700,000 ordinary shares for a total of $461,998.56.

Cessation of Substantial Holding Details

According to the Form 605 filing signed by Josef El-Raghy on 12 November 2026, the group ceased to be a substantial holder on 11 November 2026. The filing states the previous notice was given to the company on 30 June 2025. The nature of the change was identified as a dilution of voting power resulting from the issue of ordinary shares by AIC Mines Limited, with no change in the actual number of shares held by the group, which remained at 41,700,000 ordinary shares. No change in association among the named parties was reported.

On-Market Purchases and Placement Activity Since Previous Notice

Appendix A of the filing details the transactions undertaken since the previous substantial holding notice. On 21 August 2025, El-Raghy Kriewaldt Pty Ltd participated in a placement, acquiring 1,000,000 ordinary shares for $300,000.00. Subsequently, three on-market purchases were made by El-Raghy Kriewaldt Pty Ltd: 200,000 shares on 23 October 2026 for $139,652.27; 150,000 shares on 26 October 2026 for $104,614.95; and 350,000 shares on 4 November 2026 for $217,731.34.

Relevant Interests of Each Entity After Changes

Following the changes outlined in the filing, Nordana Pty Ltd held a relevant interest in 8,000,000 ordinary shares pursuant to section 608(1) of the Corporations Act. El-Raghy Kriewaldt Pty Ltd held 33,700,000 shares under section 608(1). El-Raghy Pty Ltd held a relevant interest in 33,700,000 shares under section 608(3), and Josef El-Raghy held a relevant interest in 41,700,000 shares in total through Nordana Pty Ltd and El-Raghy Kriewaldt Pty Ltd, also pursuant to section 608(3) of the Corporations Act.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.