Close the Loop Ltd (ASX:CLG) has applied for quotation of 300,000 fully paid ordinary shares following the conversion of performance rights on 12 November 2026, with the company disclosing that service conditions have been met to allow executives to convert performance rights issued in 2022 into fully paid ordinary shares.

Key Points

  • 300,000 ordinary fully paid shares applied for quotation on ASX on 12 November 2026
  • Securities issued following conversion of performance rights (security code CLGAC) into ordinary shares (CLG)
  • Performance rights were issued under an employee incentive scheme and held by key management personnel or an associate
  • Consideration value estimated at AUD $0.38 per security; no cash consideration was received
  • Total quoted ordinary fully paid shares following quotation: 594,400,842

Performance Rights Conversion Details

According to the filing, 300,000 performance rights classified under ASX security code CLGAC were converted into ordinary fully paid shares (CLG) on 12 November 2026, with both the first and last conversion date recorded as 12 November 2026. The filing states that the securities were issued under an employee incentive scheme and that the performance rights being converted were held by key management personnel or an associate. The newly issued shares rank equally in all respects from their issue date with the existing issued securities in the same class.

Service Conditions and Consideration

The filing states that service conditions have been met to allow executives to convert performance rights originally issued in 2022 into fully paid ordinary shares. No cash consideration was received for the securities. The company provided an estimated consideration value of AUD $0.38 per security, describing the consideration as fully paid ordinary shares issued following the exercise and conversion of performance rights. The filing confirms the securities are intended to be, but are not yet, quoted by ASX at the time of lodgement.

Issued Capital Following Quotation

Following the quotation of the 300,000 new shares, Close the Loop's total quoted ordinary fully paid securities on issue will stand at 594,400,842. The company's unquoted securities following the transaction include 500,000 options expiring 18 January 2027 at an exercise price of $0.38 (CLGAD), 500,000 options expiring 18 January 2027 at an exercise price of $0.90 (CLGAE), and 12,350,000 remaining performance rights (CLGAC). The filing notes that the automatically generated issued capital figures may not reflect the entity's current issued capital if other forms are currently with ASX for processing.