Algorae Pharmaceuticals to Issue 90 Million Performance Rights to Directors on 11 November 2026

Shwetambri Chauhan

10 November 2026 05:39 PM AEDT

Algorae Pharmaceuticals to Issue 90 Million Performance Rights to Directors on 11 November 2026

Image Source: Krish Capital Pty Ltd

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Algorae Pharmaceuticals Limited (ASX:1AI) has filed an Appendix 3B disclosing a proposed issue of 90,000,000 performance rights to directors, following shareholder approval received on 5 November 2026, with the issue scheduled for 11 November 2026.

Key Points

Algorae Pharmaceuticals proposes to issue 90,000,000 performance rights (ASX code: 1AIAS) to directors on 11 November 2026.
Shareholder approval for the issue was received on 5 November 2026.
The securities are being issued as an incentive-based component of directors' remuneration, with no cash consideration involved.
The proposed performance rights will not rank equally in all respects with existing securities in the same class from their issue date.

Performance Rights Issue Details

According to the filing lodged on 10 November 2026, Algorae Pharmaceuticals Limited has disclosed the proposed issue of 90,000,000 performance rights under ASX security code 1AIAS. The securities fall within an existing class already recorded by ASX. The filing states the proposed issue does not include an offer of attaching securities, and no cash consideration is being received in exchange for the performance rights. The company disclosed that no material fees or costs will be incurred in connection with the proposed issue, and no lead manager, broker, or underwriter is involved.

Shareholder Approval and Conditions

The filing confirms that shareholder approval was required before the issue could proceed on an unconditional basis. The company disclosed that approval was received from shareholders to issue a total of 90 million performance rights to directors, with an actual determination date of 5 November 2026. The filing states the issue is not being made under the entity's 15% placement capacity under Listing Rule 7.1, nor under the additional 10% placement capacity under Listing Rule 7.1A. No party referred to in Listing Rule 10.11 is participating in the proposed issue, according to the filing.

Remuneration Purpose and Escrow Arrangements

The filing states the purpose of the securities issue is to provide an incentive-based component of directors' remuneration. The performance rights will not be restricted securities under ASX listing rules, and will not be subject to voluntary escrow arrangements. The filing also confirms that Algorae Pharmaceuticals will not be changing its dividend or distribution policy as a result of the proposed issue proceeding. No further information regarding the terms or conditions attached to the performance rights was provided in the filing.

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