Australian Rare Earths Limited (ASX:AR3) has disclosed changes to the relevant interests of two directors following the issue of unlisted options approved by shareholders at the company's Annual General Meeting on 12 November 2026.

Key Points

  • Director Angus Jack Rutherford Barker received 1,500,000 unlisted options at an exercise price of $0.14, expiring 12 November 2029, on a direct basis.
  • Director Pauline Carr received 1,500,000 unlisted options at an exercise price of $0.14, expiring 12 November 2029, on an indirect basis through entities she directs.
  • Both option grants were approved by shareholders at the company's AGM held on 12 November 2026.
  • Neither interest was traded during a closed period requiring prior written clearance.

Director Barker's Interest After 12 November 2026 Change

According to the filing, Angus Jack Rutherford Barker now holds, on a direct basis, 573,087 ordinary shares and 1,500,000 unlisted options at an exercise price of $0.14 expiring 12 November 2029. On an indirect basis, through Mutual Trust Pty Limited as registered holder on behalf of Trouville Pty Ltd ATF the Esmerelda Trust — of which the director is a beneficiary — he holds 4,500,000 ordinary shares, 1,500,000 unlisted options at $0.37 expiring 26 November 2026, 1,500,000 unlisted options at $0.50 expiring 26 November 2026, and 1,500,000 unlisted options at $0.325 expiring 26 November 2028.

Director Carr's Interest After 12 November 2026 Change

The filing states that Pauline Carr holds her interests indirectly, as sole director of Equinalia Pty Ltd and Equinas Apache Pty Ltd. Following the change on 12 November 2026, her total indirect holdings comprise 141,668 fully paid ordinary shares, 1,500,000 unlisted options at an exercise price of $0.325 expiring 26 November 2028, and 1,500,000 unlisted options at an exercise price of $0.14 expiring 12 November 2029. Prior to the change, she held 141,668 fully paid ordinary shares and 1,500,000 unlisted options at $0.325 expiring 26 November 2028. No securities were disposed of in connection with either director's change.

Nature of Change and Closed Period Disclosure

The filing confirms that the nature of the change for both directors was the issue of options to directors approved by shareholders at the company's AGM on 12 November 2026. No consideration is recorded for the acquisition of the options in either notice. Both filings confirm that the interests were not traded during a closed period where prior written clearance was required. The date of last notice for Angus Jack Rutherford Barker was recorded as 2 July 2026, and for Pauline Carr as 3 July 2026.