Basin Energy Cancels 4 Million Performance Rights After Conditions Lapse on 2 November 2026

Manish Choudhary

03 November 2026 08:45 PM AEDT

Basin Energy Cancels 4 Million Performance Rights After Conditions Lapse on 2 November 2026

Image Source: Krish Capital Pty Ltd

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Basin Energy Limited (ASX:BSN) has notified the exchange of the cessation of 4,000,000 unquoted performance rights (code: BSNAN) effective 2 November 2026, following the lapse of conditional rights to securities because the conditions have not been, or have become incapable of being, satisfied.

Key Points

4,000,000 BSNAN performance rights ceased on 2 November 2026 due to lapse of conditions.
No consideration was paid by the company for the cessation of the securities.
Following the cessation, 57,500,000 BSNAN performance rights remain on issue.
Basin Energy's total quoted ordinary fully paid shares on issue stand at 235,309,005.

Cessation of BSNAN Performance Rights

Basin Energy Limited disclosed on 3 November 2026 that 4,000,000 performance rights under the BSNAN class have ceased. The reason for cessation was the lapse of a conditional right to securities because the conditions have not been, or have become incapable of being, satisfied. The cessation date was recorded as 2 November 2026. The company confirmed that no consideration was paid in connection with the cessation of these securities, and no additional information was provided to the exchange regarding the circumstances of the lapse.

Issued Capital Following the Cessation

Following the removal of the 4,000,000 performance rights, Basin Energy's issued capital comprises 235,309,005 ordinary fully paid shares quoted on the exchange under the code BSN. The remaining unquoted BSNAN performance rights on issue total 57,500,000. The company also holds several classes of unquoted options on issue, including 7,499,995 options expiring 23 April 2030 at an exercise price of $0.05, and 7,500,005 options expiring 23 April 2030 at an exercise price of $0.10, among other option classes as detailed in the filing.

Unquoted Options Classes on Issue

According to the filing, Basin Energy's unquoted equity securities following the cessation include options across multiple classes. These comprise 417,398 options expiring 23 October 2028 at $0.32 (BSNAH), 417,398 options expiring 23 October 2028 at $0.24 (BSNAF), 417,398 options expiring 23 October 2028 at $0.28 (BSNAG), and 4,619,924 options expiring 15 January 2028 at $0.10 (BSNAO). The filing noted that the figures in the issued capital tables are automatically generated and may not reflect the entity's current issued capital if other forms are currently with the exchange for processing.

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