Algorae Pharmaceuticals Limited (ASX:1AI) has disclosed changes to the relevant interests of two directors, David Hainsworth and David Gulland, following the issue of performance rights approved at the company's Annual General Meeting held on 5 November 2026, with each director receiving 30,000,000 performance rights effective 11 November 2026.

Key Points

  • Director David Hainsworth acquired 30,000,000 performance rights (AGM 2026) indirectly through Union Square Capital Pty Ltd <Endeavor A/C> on 11 November 2026.
  • Director David Gulland acquired 30,000,000 performance rights (2026 AGM) indirectly through Gull Health Pty Ltd <Gulland Family A/C> on 11 November 2026.
  • Both acquisitions were made for nil consideration following shareholder approval at the Annual General Meeting held on 5 November 2026.
  • Neither director disposed of any securities, and no interests in contracts were reported as changed.

David Hainsworth's Interest Change and Holdings After 11 November 2026

According to the filing, David Hainsworth's indirect interest changed on 11 November 2026 through Union Square Capital Pty Ltd <Endeavor A/C>, an entity in which Mr Hainsworth is a director and controlling shareholder, which now holds 30,000,000 performance rights (AGM 2026). His direct holdings remain unchanged at 20,000,000 fully paid ordinary shares, 20,000,000 performance rights (AGM 2024), 30,000,000 performance rights (AGM 2025), and 4,000,000 unlisted options with an exercise price of $0.014 each, expiring 1 December 2029. His Cathedral Estate Pty Ltd <Cathedral Super Fund> holdings also remain unchanged.

David Gulland's Interest Change and Holdings After 11 November 2026

David Gulland's indirect interest changed on 11 November 2026, with Gull Health Pty Ltd <Gulland Family A/C>, an entity in which Mr Gulland is a director and controlling shareholder, acquiring 30,000,000 performance rights (2026 AGM) for nil consideration. Following the change, Gull Health Pty Ltd <Gulland Family A/C> holds 1,666,667 fully paid ordinary shares, 15,000,000 unlisted options with an exercise price of $0.014 expiring 1 December 2029, 42,000,000 performance rights, and 30,000,000 performance rights (2026 AGM). Holdings through Mrs Rachelle Gulland remain unchanged.

Nature of the Transaction and Closed Period Disclosure

The filing states that the nature of the change for both directors was the issue of performance rights following shareholder approval at the Annual General Meeting held on 5 November 2026. The consideration for each acquisition was nil. Both notices confirm that the interests were not traded during a closed period where prior written clearance was required. No changes to director interests in contracts were reported by either David Hainsworth or David Gulland in their respective filings lodged with the exchange.