FortifAI Ltd (ASX:FTI) has notified the ASX that 23,916,010 performance rights under the FTIAB security code ceased on 6 November 2026, following the lapse of conditional rights to securities because the conditions have not been, or have become incapable of being, satisfied.

Key Points

  • 23,916,010 FTIAB performance rights ceased on 6 November 2026 due to lapse of conditions
  • The conditions attached to the performance rights have not been, or have become incapable of being, satisfied
  • No consideration is being paid by the entity for the cessation
  • Following the cessation, 178,321,134 FTIAB performance rights remain on issue as unquoted equity securities
  • FortifAI's total quoted ordinary fully paid shares on issue stand at 346,461,538

Performance Rights Cessation Details

According to the filing lodged on 6 November 2026, FortifAI Ltd disclosed the cessation of 23,916,010 unquoted performance rights under ASX security code FTIAB. The cessation occurred because the conditional rights to securities lapsed, as the conditions attached to those rights have not been, or have become incapable of being, satisfied. The company confirmed that no consideration is being paid for the cessation of these securities. The filing was submitted as a new announcement under Appendix 3H, which governs notification of cessation of securities on the ASX.

Issued Capital Following the Cessation

Following the cessation, FortifAI's issued capital comprises 346,461,538 ordinary fully paid shares quoted on ASX under the FTI code. The company's unquoted equity securities include 178,321,134 remaining FTIAB performance rights, along with multiple classes of options. These include 47,100,000 options expiring 27 June 2030 at an exercise price of $0.05, 11,500,000 options expiring 29 August 2028 at $0.15, and 3,216,667 options expiring 19 August 2029 at $0.45, among other classes disclosed in the filing.

Unquoted Options Classes on Issue

The filing sets out the full range of unquoted option classes remaining on issue after the cessation event. These include 3,000,000 options each under FTIAC, FTIAI, and FTIAD, all expiring 23 January 2028 at exercise prices of $0.15, $0.25, and $0.20 respectively. Additionally, 266,668 options under FTIAL expire on 14 June 2029 at $0.45, and 2,097,902 options under FTIAO expire on 7 May 2029 at $1.0725. The company noted that the figures in its issued capital table are automatically generated and may not reflect current issued capital if other forms are simultaneously being processed by ASX.