Cuscal Limited (ASX:CCL), a payments infrastructure company, has disclosed the issue of 930,853 unquoted performance rights under its employee incentive scheme, with the securities issued on 29 October 2026 and notified to ASX on 3 November 2026.

Key Points

  • 930,853 performance rights (ASX security code: CCLAB) were issued on 29 October 2026 under an employee incentive scheme
  • The securities are unquoted and subject to a restriction on transfer until the restriction period ends
  • Two key management personnel received allocations: Craig Kennedy (254,978 rights) and Jennifer Brice (85,005 rights)
  • Following the issue, total CCLAB performance rights on issue stand at 3,930,589, while ordinary fully paid shares on issue total 199,812,619
  • The issue was made under Listing Rule 7.2 Exception 13 and did not require securityholder approval under Listing Rule 7.1

Performance Rights Issued Under Employee Incentive Scheme

Cuscal Limited disclosed the issue of 930,853 performance rights, classified under ASX security code CCLAB, pursuant to the company's employee incentive scheme. The securities were issued on 29 October 2026 and are unquoted on ASX, with a restriction on transfer applying until the relevant restriction period concludes. According to the filing, the newly issued performance rights rank equally in all respects from their issue date with existing securities in the same class. The issue was made under an existing class of securities and was notified to ASX via an Appendix 3G on 3 November 2026.

Key Management Personnel Allocations: Craig Kennedy and Jennifer Brice

The filing discloses that two members of Cuscal's key management personnel received allocations from the 930,853 performance rights issued. Craig Kennedy was issued 254,978 performance rights, registered in his own name, while Jennifer Brice received 85,005 performance rights, also registered directly in her name. The remaining performance rights from the total issuance were distributed to other scheme participants not individually identified in the filing as key management personnel. The filing confirms these allocations fall within the company's employee incentive scheme framework, consistent with the terms lodged separately with ASX.

Securities on Issue Following the 29 October 2026 Transaction

Following completion of the performance rights issuance, Cuscal's total securities on issue comprise 199,812,619 ordinary fully paid shares, which are quoted on ASX under the code CCL, and 3,930,589 unquoted performance rights under the CCLAB security code. The filing notes the figures in the securities on issue table are automatically generated and may not reflect the company's current issued capital if other Appendix 2A, Appendix 3G or Appendix 3H forms are simultaneously being processed by ASX. The issue was not subject to securityholder approval, having been made under Listing Rule 7.2 Exception 13.