Ballard Mining Limited (ASX:BM1) has applied to the Australian Securities Exchange for quotation of 44,700 fully paid ordinary shares, issued on 4 November 2026 following the conversion of performance rights on 23 October 2026, according to an Appendix 2A filing lodged on 4 November 2026.

Key Points

  • 44,700 BM1 ordinary fully paid shares applied for quotation, with an issue date of 4 November 2026
  • Securities were converted from BM1AH performance rights, with the conversion date recorded as 23 October 2026
  • The consideration for the securities is described as conversion of performance rights as part of an employment package, at an estimated value of $0.6288 per security
  • Following quotation, total quoted ordinary fully paid shares in BM1 will stand at 366,778,090
  • The new shares are stated to rank equally in all respects from their issue date with existing issued securities in the same class

Performance Rights Conversion Details

According to the filing, the 44,700 ordinary fully paid shares arise from the conversion of BM1AH performance rights into the existing quoted BM1 ordinary share class. The conversion date for all securities was recorded as 23 October 2026, with the issue date of the resulting ordinary shares confirmed as 4 November 2026. The filing states the securities were issued under an employee incentive scheme, and that key management personnel or associates hold some of the performance rights being converted. The consideration provided is described as the conversion of performance rights as part of an employment package, with no cash consideration involved.

Estimated Value and Security Ranking

The filing discloses an estimated value of $0.6288 per security for the 44,700 shares being quoted. The company confirmed that the new ordinary shares will rank equally in all respects from their issue date with existing issued securities in the BM1 ordinary fully paid class. The filing also notes that the conversion does not represent all of the BM1AH performance rights on issue, with the remaining BM1AH performance rights balance disclosed at 5,647,580 unquoted securities following the transaction.

Issued Capital Following Quotation

Following quotation of the 44,700 shares, Ballard Mining's total quoted ordinary fully paid securities will comprise 366,778,090 shares. The company also disclosed a range of unquoted securities remaining on issue, including options expiring on various dates and performance rights across multiple classes. These include 1,250,000 options expiring 9 September 2031 at an exercise price of $1.10, 4,500,000 options expiring 4 September 2031 at $1.10, and 156,310,994 restricted ordinary fully paid shares, among other classes detailed in the filing.