FortifAI Ltd Corrects Cessation of 22,116,010 Performance Rights That Lapsed on 6 November 2026

Aditi Sarkar

10 November 2026 12:56 PM AEDT

FortifAI Ltd Corrects Cessation of 22,116,010 Performance Rights That Lapsed on 6 November 2026

Image Source: Krish Capital Pty Ltd

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

FortifAI Ltd (ASX:FTI) has filed a corrected notification of cessation of securities, amending the number of performance rights that lapsed on 6 November 2026, with the updated figure confirmed at 22,116,010 unquoted equity securities under the FTIAB class.

Key Points

FortifAI Ltd filed an update on 9 November 2026 to correct the number of securities ceased in a previous notification dated 6 November 2026.
22,116,010 FTIAB performance rights ceased on 6 November 2026 due to the lapse of conditional rights, as the conditions have not been, or have become incapable of being, satisfied.
No consideration was paid by the entity for the cessation of the performance rights.
Following the cessation, FortifAI's quoted ordinary fully paid shares on issue total 346,461,538, with 180,121,134 FTIAB performance rights remaining as unquoted equity securities.

Correction to Previous Performance Rights Cessation Notice

FortifAI Ltd lodged an updated Appendix 3H with ASX on 9 November 2026, superseding a previous notification dated 6 November 2026. The purpose of the update was to correct the number of performance rights recorded as having ceased. The corrected figure stands at 22,116,010 FTIAB performance rights. The cessation date remains 6 November 2026, and the reason for cessation is recorded as the lapse of conditional rights because the conditions have not been, or have become incapable of being, satisfied. The company confirmed no consideration was paid in connection with the cessation.

Issued Capital Following Cessation of FTIAB Securities

Following the cessation, FortifAI's quoted capital comprises 346,461,538 ordinary fully paid shares listed under the FTI security code. The company also holds a range of unquoted equity securities, including 180,121,134 FTIAB performance rights remaining on issue. Unquoted options on issue include 47,100,000 FTIAQ options expiring 27 June 2030 at an exercise price of $0.05, 11,500,000 FTIAA options expiring 29 August 2028 at $0.15, and 3,216,667 FTIAN options expiring 19 August 2029 at $0.45, among other classes detailed in the filing.

Additional Unquoted Option Classes on Issue

The filing also discloses further unquoted option classes remaining on issue. These include 3,000,000 FTIAC options expiring 23 January 2028 at an exercise price of $0.15, 3,000,000 FTIAI options expiring 23 January 2028 at $0.25, 3,000,000 FTIAD options expiring 23 January 2028 at $0.20, 266,668 FTIAL options expiring 14 June 2029 at $0.45, and 2,097,902 FTIAO options expiring 7 May 2029 at $1.0725. The filing notes that the figures stated may not reflect the entity's current issued capital if other Appendix forms are currently with ASX for processing.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.