Brightstar Resources Limited (ASX:BTR) has issued 88,652 unquoted performance rights to an employee under its employee incentive scheme, with the securities issued on 6 November 2026 and carrying both market-based and operational performance milestones.

Key Points

  • 88,652 performance rights (ASX code: BTRAS) were issued on 6 November 2026 to an employee under the company's employee share incentive plan.
  • The performance rights vest on 30 June 2027, subject to market-based and operational performance milestones, and expire on 31 December 2028.
  • The securities were issued to a key management personnel (KMP) member or associate, as confirmed in the filing.
  • The issue was made under Listing Rule 7.2 Exception 13 and did not require securityholder approval under Listing Rule 7.1.

Performance Rights Issue Terms

Brightstar Resources disclosed that the 88,652 short-term share performance rights issued on 6 November 2026 are classified as unquoted securities under ASX security code BTRAS. The rights are described as short-term share performance rights issued to an employee. According to the filing, the performance rights vest on 30 June 2027 and are subject to market-based and operational performance milestones. The rights will expire on 31 December 2028. The filing confirms the securities were issued to a key management personnel member or associate of the company.

Employee Incentive Scheme Background

The performance rights were issued under Brightstar Resources' employee share incentive plan, the terms of which were disclosed in the company's Notice of Meeting dated 24 October 2025 and subsequently approved by shareholders at the Annual General Meeting held on 24 November 2025. The filing states the issue was made under an exception in Listing Rule 7.2 — specifically Exception 13 — meaning the issue did not require separate securityholder approval under Listing Rule 7.1. The securities are not intended to be quoted on the ASX.

Securities on Issue Following the Transaction

Following the issue, Brightstar Resources' total quoted ordinary fully paid shares on issue stand at 1,272,254,245. The company's unquoted securities include 8,264,680 BTRAS performance rights and 12,657,941 BTRAH share performance rights, among other classes of unquoted options and rights. Unquoted options on issue include BTRAN options expiring 22 December 2026 at an exercise price of $0.24, totalling 8,626,128, and BTRAO options expiring 31 July 2028 at an exercise price of $0.24, totalling 1,491,493, along with several other option classes disclosed in the filing.