Korvest Ltd (ASX:KOV) has issued 40,636 unquoted performance rights to key management personnel under its employee incentive scheme, according to a filing lodged with the ASX on 5 November 2026. The securities, designated under the code KOVAI, were issued on the same date as the notification and are not intended to be quoted on ASX.

Key Points

  • 40,636 performance rights (ASX code: KOVAI) issued on 5 November 2026 under Korvest's employee incentive scheme
  • All securities were issued to key management personnel, including Chris Hartwig, Steven McGregor, Gavin Christie, and Stephen Taubitz
  • Following the issue, total unquoted performance rights on issue stand at 151,966
  • Korvest's quoted ordinary fully paid shares on issue total 11,927,617 following the transaction

Performance Rights Issued to Four Key Management Personnel

The filing discloses that all 40,636 performance rights were issued to key management personnel (KMP) or their associates. Chris Hartwig received 10,578 performance rights, Steven McGregor received 9,384, Stephen Taubitz received 7,412, and Gavin Christie received 5,758. Each individual is listed as the registered holder of their respective allocation. The securities rank equally in all respects from their issue date with existing issued securities in the same class, according to the filing.

Securities Classified as Unquoted Under Employee Incentive Scheme

The performance rights were issued under Korvest's employee incentive scheme and fall into an existing unquoted class on ASX. The filing confirms the securities are not intended to be quoted on ASX. The issue was not made under an exception in Listing Rule 7.2, nor was security holder approval obtained or being obtained under Listing Rule 7.1. The securities were also not issued using the entity's 15% placement capacity under Listing Rule 7.1 or the additional 10% placement capacity under Listing Rule 7.1A.

Post-Issue Securities on Issue for Korvest Ltd

Following the issue of the 40,636 performance rights, Korvest's total unquoted performance rights on issue under the KOVAI code amount to 151,966 securities. The company's quoted securities comprise 11,927,617 ordinary fully paid shares under the KOV code. The filing notes that these figures are automatically generated and may not reflect the entity's current issued capital if other forms are concurrently being processed by ASX.