Enterprise Metals Files Appendix 3B for 232,950,255 Options and Performance Rights Issue on 7 December 2026

Sonal Goyal

10 November 2026 07:20 PM AEDT

Enterprise Metals Files Appendix 3B for 232,950,255 Options and Performance Rights Issue on 7 December 2026

Image Source: Krish Capital Pty Ltd

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Enterprise Metals Limited (ASX:ENT) has lodged an Appendix 3B with ASX disclosing a proposed issue of up to 232,950,255 securities, comprising options across four tranches and performance rights, with a proposed issue date of 7 December 2026, subject to shareholder approval.

Key Points

Enterprise Metals proposes to issue 171,000,000 director and management incentive options expiring 7 December 2030, across three exercise price tranches of $0.004, $0.006, and $0.010, at 37,000,000 options each
A further 61,950,255 options expiring 30 November 2028 with an exercise price of $0.003 are proposed to be issued
60,000,000 performance rights are also included in the proposed issue
Shareholder approval is required, with a determination date of 30 November 2026
All proposed securities are new classes not yet quoted or recorded by ASX, and the company will not be seeking quotation of these new classes on ASX

Details of Proposed Options Across Three Exercise Price Tranches

According to the filing, Enterprise Metals proposes to issue three separate tranches of director and management incentive options, each comprising 37,000,000 options, all expiring on 7 December 2030. The exercise prices for the three tranches are AUD $0.004, AUD $0.006, and AUD $0.010 respectively. Each option, if exercised, would result in the issue of one fully paid ordinary share in Enterprise Metals (ASX:ENT). The estimated AUD equivalent consideration for the $0.004 tranche is $0.002300, and for the $0.006 tranche is $0.002100 per option. All securities in each class will rank equally in all respects from their issue date.

Additional Options Expiring November 2028 and Performance Rights

The filing also discloses a proposed issue of 61,950,255 options with an exercise price of $0.003, expiring 30 November 2028. In addition, 60,000,000 performance rights are proposed to be issued. All securities across all classes are classified as new classes not currently quoted or recorded by ASX. The company has confirmed it will not be seeking quotation of any of the new security classes on ASX. The proposed issue date for all securities is 7 December 2026, as stated in the filing.

Shareholder Approval Condition and Issue Timetable

The filing states that the proposed issue is conditional upon shareholder approval, with the determination date set at 30 November 2026. The filing records this date as an actual date. Enterprise Metals disclosed that the material terms of the proposed securities are set out in a document previously lodged with ASX. The Appendix 3B was lodged on 10 November 2026. All options across the respective tranches, upon exercise, convert into fully paid ordinary shares of Enterprise Metals Limited, trading on ASX under the code ENT.

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