Australian Rare Earths Limited (ASX:AR3) has issued 3,000,000 unlisted options to directors following shareholder approval at the company's Annual General Meeting held on 12 November 2026, according to an Appendix 3G filing lodged with ASX on the same date.

Key Points

  • 3,000,000 unlisted options issued to directors on 12 November 2026 following AGM shareholder approval
  • Options are exercisable at $0.14 each and expire on 12 November 2029
  • Options were not issued for cash consideration and represent a new securities class pending an ASX code
  • Upon exercise, options convert into AR3 ordinary fully paid shares; 256,909,776 ordinary shares are currently on issue

Director Option Issue Terms and AGM Approval

The 3,000,000 unlisted options were issued on 12 November 2026, the same date as the company's Annual General Meeting at which shareholders approved the grant. The options carry an exercise price of AUD $0.14 and expire on 12 November 2029, giving them a three-year term from the date of issue. The filing states the options were not issued for cash consideration. Upon exercise, each option entitles the holder to one AR3 ordinary fully paid share. The filing confirms the company received confirmation from ASX that the terms of the securities are appropriate and equitable under listing rule 6.1.

New Unquoted Securities Class and Listing Rule Compliance

The options constitute a new class of unquoted securities, with an ASX security code yet to be confirmed at the time of the filing. The issue was not made under an exception in Listing Rule 7.2, and security holder approval was obtained under Listing Rule 7.1 at the AGM on 12 November 2026. Because the options were issued following shareholder approval, they were not previously announced to the market via an Appendix 3B, as disclosed in the filing. All securities issued in the new class rank equally in all respects from their issue date.

Company Securities on Issue Following the Option Grant

Following the issue, Australian Rare Earths discloses 256,909,776 ordinary fully paid shares quoted on ASX. Unquoted securities on issue include 33,058,179 performance rights, options across multiple existing classes with varying exercise prices and expiry dates, and the newly issued 3,000,000 options exercisable at $0.14 expiring 12 November 2029. Existing unquoted option classes range from options expiring in December 2026 through to July 2030, with exercise prices spanning from nil consideration to $0.4971, as detailed in the securities-on-issue table provided in the filing.