Mamba Exploration Limited (ASX:M24) has disclosed that director Vikram Kumar exercised 1,250,000 unquoted options on 4 November 2026, converting them into fully paid ordinary shares at an exercise price of $0.03 per option, for total consideration of $37,500, according to a Change of Director's Interest Notice lodged with the exchange.

Key Points

  • Director Vikram Kumar exercised 1,250,000 unquoted options exercisable at $0.03, expiring 26 November 2026, on 4 November 2026
  • Total consideration for the exercise was $37,500
  • Kumar's direct holding of fully paid ordinary shares increased from 7,000,000 to 8,250,000 following the transaction
  • The transaction did not occur during a closed period, according to the filing

Securities Held by Vikram Kumar Before the Transaction

Prior to the change on 4 November 2026, Vikram Kumar held directly 7,000,000 fully paid ordinary shares, 1,250,000 unquoted options exercisable at $0.03 expiring 26 November 2026, and 1,250,000 unquoted options exercisable at $0.05 expiring 26 November 2027. Associated entity Java Kumar Investments Pty Ltd held 3,000,000 fully paid ordinary shares. Nakameguro Pty Ltd, as trustee for the V B Kumar family trust, held 2,000,000 unquoted options each at exercise prices of $0.03, $0.04, and $0.05, all expiring 31 March 2029.

Securities Held by Vikram Kumar After the Transaction

Following the exercise of options, Vikram Kumar's direct holding of fully paid ordinary shares rose to 8,250,000. His remaining direct options consist of 1,250,000 unquoted options exercisable at $0.05 expiring 26 November 2027. Holdings through Java Kumar Investments Pty Ltd remain at 3,000,000 fully paid ordinary shares. Nakameguro Pty Ltd as trustee for the V B Kumar family trust continues to hold 2,000,000 unquoted options each at $0.03, $0.04, and $0.05, all expiring 31 March 2029, unchanged by the transaction.

Nature of Change and Closed Period Disclosure

The filing classifies the nature of the change as an exercise of options, with the interest described as direct. The previous Change of Director's Interest Notice for Vikram Kumar was dated 16 April 2026. The filing states that the interests were not traded during a closed period requiring prior written clearance. Part 2 of the notice, relating to changes in director interests in contracts, was recorded as not applicable. No contract details were disclosed in connection with this transaction.