Basin Energy Ltd (ASX:BSN) has disclosed a change in director Blake Steele's relevant interests in securities, with 2,000,000 performance rights lapsing on 2 November 2026, reducing his holding to 2,500,000 performance rights, according to a Change of Director's Interest Notice lodged with the exchange.

Key Points

  • Director Blake Steele held 4,500,000 performance rights prior to the change on 2 November 2026
  • 2,000,000 performance rights lapsed, described as the lapse of 2023 performance rights, with nil consideration received
  • Following the change, Steele holds 2,500,000 performance rights and 1,200,000 fully paid ordinary shares
  • The interests are held directly, with no indirect interest disclosed
  • The securities were not traded during a closed period requiring prior written clearance

Lapse of Blake Steele's 2023 Performance Rights

According to the filing, the change in director Blake Steele's interest arose from the lapse of 2,000,000 performance rights, classified as 2023 performance rights. The lapse occurred on 2 November 2026, and no consideration was received in connection with the disposal. Prior to the change, Steele held 4,500,000 performance rights in addition to 1,200,000 fully paid ordinary shares. The filing confirms no securities were acquired as part of this change, and the nature of the movement is solely the lapse of the specified performance rights class.

Director's Securities Position After the Change

Following the lapse of the 2,000,000 performance rights, Blake Steele's total holding consists of 1,200,000 fully paid ordinary shares and 2,500,000 performance rights. The filing states these interests are held directly, with no registered holder of indirect interests disclosed. The ordinary share holding of 1,200,000 fully paid ordinary shares remained unchanged by the transaction. The last director's interest notice for Steele was dated 27 October 2025, according to the filing.

Closed Period and Contract Interest Disclosures

Basin Energy's filing confirms that the interests in securities detailed in the notice were not traded during a closed period in which prior written clearance was required. No details were disclosed under Part 2 of the notice relating to any change in the director's interests in contracts, with the filing recording not applicable against all contract interest fields. No indirect interests or interests arising through registered holders were disclosed in connection with the changes reported in this notice.