Far Northern Resources Limited (ASX:FNR) has disclosed a change in the relevant interests of director Nicholas Gerard Revell, following the issue of 1,500,000 unlisted options to Spurs Geological Services Pty Ltd on 9 November 2026, for nil consideration after shareholder approval.

Key Points

  • Director Nicholas Gerard Revell received 1,500,000 unlisted options on 9 November 2026, issued for nil consideration following shareholder approval
  • The options are exercisable at 25 cents each and expire on 9 November 2028
  • The options were issued to Spurs Geological Services Pty Ltd, of which Mr Revell is the sole director
  • No securities were disposed of as part of the change; the interests were not traded during a closed period

Option Issue Details for Director Nicholas Revell

According to the filing lodged under ASX Listing Rule 3.19A.2, the change of director's interest occurred on 9 November 2026. A total of 1,500,000 unlisted options were issued to Spurs Geological Services Pty Ltd, with Mr Revell serving as the sole director of that entity. The options were granted for nil consideration following shareholder approval and carry an exercise price of 25 cents each, with an expiry date of 9 November 2028. No options or shares were disposed of in connection with this transaction.

Securities Held Before and After the Change

Prior to the change, Mr Revell held interests across three registered holders. Spurs Geological Services Pty Ltd held 10,000 fully paid ordinary shares. Mr Revell personally held 50,000 fully paid ordinary shares. Lejns Pty Ltd as trustee for The Revell Family Account, in which Mr Revell is a beneficiary, held 10,000 fully paid ordinary shares. Following the issue, Spurs Geological Services Pty Ltd now holds 10,000 fully paid ordinary shares and 1,500,000 unlisted 25-cent options expiring 9 November 2028. The remaining holdings were unchanged.

Nature of Interest and Closed Period Disclosure

The filing discloses that Mr Revell holds both direct and indirect relevant interests in Far Northern Resources securities. The indirect interests are held through Spurs Geological Services Pty Ltd, as sole director, and through Lejns Pty Ltd as trustee for The Revell Family Account, as a beneficiary. The filing confirms that the interests detailed were not traded during a closed period requiring prior written clearance. The previous director's interest notice for Mr Revell was dated 10 November 2026, according to the filing.