Coda Minerals Ltd (ASX:COD), a minerals exploration company, has notified the market of the issue of two separate tranches of unquoted performance rights under its Employee Incentive Plan, comprising 2,500,000 performance rights expiring 5 December 2030 and 1,000,000 performance rights expiring 5 December 2028, both issued on 6 November 2026.

Key Points

  • 2,500,000 performance rights were issued under the existing CODAR class, expiring 5 December 2030, on 6 November 2026
  • 1,000,000 performance rights forming a new, as-yet unconfirmed ASX security code class were issued, expiring 5 December 2028, also on 6 November 2026
  • Both tranches were issued to key management personnel or associates under Coda Minerals' Employee Incentive Plan
  • The issue was made under Listing Rule 7.2 exception 13 and therefore did not require securityholder approval under Listing Rule 7.1

Performance Rights Issue Under Employee Incentive Plan

Coda Minerals disclosed the issue of performance rights across two distinct classes on 6 November 2026, with the company filing the notification on 10 November 2026. The first tranche of 2,500,000 performance rights was issued under the existing CODAR class, which carries an expiry date of 5 December 2030. The second tranche of 1,000,000 performance rights constitutes a new class with an expiry date of 5 December 2028, and an ASX security code for this new class is yet to be confirmed. Both tranches were issued pursuant to the terms and conditions of the company's Employee Incentive Plan, with the material terms referenced under Resolution 8 of a document previously lodged with ASX.

Key Management Personnel Recipients and Listing Rule Compliance

According to the filing, securities in both the existing CODAR class and the new performance rights class expiring 5 December 2028 were issued to key management personnel or associates of Coda Minerals. The filing confirms the issue was made under exception 13 of ASX Listing Rule 7.2, meaning the issue did not require securityholder approval under Listing Rule 7.1. The performance rights in the existing CODAR class do not rank equally in all respects from their issue date with existing issued securities in that class, as disclosed in the filing. The new class securities will rank equally in all respects from their issue date.

Coda Minerals Securities on Issue Following Notification

Following the issue, Coda Minerals' quoted securities comprised 426,539,160 ordinary fully paid shares and 143,326,290 options expiring 28 March 2029. Among the company's unquoted securities, the CODAR class of performance rights expiring 5 December 2030 stands at 12,500,000 on issue in total. Other unquoted classes include 8,000,000 performance rights expiring 25 March 2031, 7,700,000 options expiring 10 August 2029 at an exercise price of $0.26, and 1,000,000 performance rights expiring 5 December 2028 in the newly established class, among other smaller classes of unquoted securities disclosed in the filing.