Larvotto Resources Limited (ASX:LRV) has applied to ASX for the quotation of 610,000 fully paid ordinary shares, converted from performance rights under the company's Long-Term Incentive Plan, with an issue date of 6 November 2026.

Key Points

  • 610,000 ordinary fully paid shares applied for quotation on ASX on 6 November 2026
  • Securities converted from LRVAH performance rights, with transfer restrictions ceasing on 5 November 2026
  • Performance rights vested under the Larvotto Resources Long-Term Incentive Plan approved by shareholders at the Annual General Meeting held on 31 May 2024
  • Following quotation, total quoted ordinary fully paid shares on issue will be 520,898,899

Conversion of Performance Rights to Ordinary Shares

According to the filing, the 610,000 securities were previously issued under an employee incentive scheme as performance rights (ASX code: LRVAH). The transfer restrictions on these securities ceased on 5 November 2026, triggering the application for quotation as ordinary fully paid shares. The securities are stated to rank equally in all respects from their issue date with existing issued securities in the same class. The consideration for the securities is described as vested performance rights under the Larvotto Resources Long-Term Incentive Plan, with an estimated value of AUD $0.74 per security.

Long-Term Incentive Plan Approved at 2024 Annual General Meeting

The filing states that the performance rights being converted were issued under the Larvotto Resources Long-Term Incentive Plan, which was approved by shareholders at the company's Annual General Meeting held on 31 May 2024. The securities are not being issued for cash consideration. The conversion is classified as an addition to an existing quoted class of securities and was not previously notified to ASX in an Appendix 3B, as disclosed in the filing.

Issued Capital Following Quotation

Following the quotation of the 610,000 ordinary fully paid shares, Larvotto Resources discloses that its total quoted ordinary fully paid securities on issue will stand at 520,898,899. The company's unquoted securities will comprise 18,422,396 LRVAH performance rights and 5,082,000 LRVAG performance rights remaining on issue. The filing notes that the automatically generated issued capital figures may not reflect the entity's current issued capital if other forms are concurrently being processed by ASX.