Boab Metals Limited (ASX:BML) has allotted and issued 4,500,000 fully paid ordinary shares to Directors of the Company following the conversion of Class "F" Performance Rights, triggered by the achievement of a milestone tied to an increase in the mine life at the Sorby Hills Project, according to a filing dated 2 November 2026.

Key Points

  • 4,500,000 fully paid ordinary shares were allotted and issued to Directors upon conversion of Performance Rights.
  • The issue was triggered by the achievement of the milestone attaching to Class "F" Performance Rights.
  • The milestone was the Company announcing that the Sorby Hills Project mine life has been increased by two years.
  • The shares were issued without disclosure under Part 6D.2 of the Corporations Act, with a Section 708A(5)(e) cleansing notice provided.
  • The Company confirmed there is no excluded information required to be disclosed as at the date of the notice.

Class "F" Performance Rights Conversion and Milestone Details

The filing discloses that the issue of shares to Directors was triggered by the achievement of a specific milestone attaching to the Class "F" Performance Rights held by those Directors. The milestone in question was the Company announcing that the mine life of the Sorby Hills Project has been increased by two years. Upon achievement of this milestone, a total of 4,500,000 fully paid ordinary shares were allotted and issued as a result of the conversion of those Performance Rights. The Company referred holders to its Appendix 2A, also released on the same date, for additional details regarding the share issue.

Section 708A Cleansing Notice Provisions

In accordance with section 708A(6) of the Corporations Act 2001 (Cth), Boab Metals provided a cleansing notice under section 708A(5)(e). The notice confirms that the ordinary securities were issued without disclosure under Part 6D.2 of the Corporations Act. The Company also stated that, as at the date of the notice, it has complied with the provisions of Chapter 2M of the Corporations Act as they apply to the Company, as well as sections 674 and 674A of the Corporations Act.

Excluded Information Confirmation

As part of the obligations under section 708A(6)(e) of the Corporations Act, Boab Metals confirmed that, as at the date of the notice, there is no excluded information within the meaning of sections 708A(7) and 708A(8) of the Corporations Act that is required to be disclosed. The filing was approved for release by Company Secretary Jerry Monzu and is dated 2 November 2026.