OpenLearning Updates Non-Renounceable Entitlement Offer Timetable and Maximum Securities to 206,284,950

Shwetambri Chauhan

10 November 2026 12:56 PM AEDT

OpenLearning Updates Non-Renounceable Entitlement Offer Timetable and Maximum Securities to 206,284,950

Image Source: Krish Capital Pty Ltd

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OpenLearning Limited (ASX:OLL) has filed an updated Appendix 3B, revising the timetable and maximum number of securities to be issued under its non-renounceable pro rata entitlement offer, following a pre-record date placement disclosed on 9 November 2026.

Key Points

Maximum number of ordinary shares proposed to be issued increased to 206,284,950, on a 1-for-4 non-renounceable basis at AUD $0.01 per share.
Maximum number of attaching options also set at 206,284,950, issued on a 1-for-1 basis at no cost to retail security holders.
Attaching options carry an exercise price of AUD $0.015 and an expiry date of 31 October 2027.
Record date is set for 16 November 2026, with an ex date of 13 November 2026.
The update is to a previous announcement dated 5 November 2026, with the revision attributed to additional shares and options to be issued under a pre-record date placement.

Revised Maximum Securities and Reason for Update

According to the filing dated 10 November 2026, OpenLearning Limited has updated the maximum number of securities proposed to be issued under its non-renounceable pro rata entitlement offer. The maximum number of ordinary fully paid shares has been revised to 206,284,950, as has the maximum number of attaching options. The company stated that the reason for the update to both figures is the additional shares and options to be issued under a pre-record date placement, referencing a separate company disclosure made on 9 November 2026. The update amends the previous Appendix 3B lodged on 5 November 2026.

Entitlement Offer Structure and Pricing

The entitlement offer is structured on a 1-for-4 basis, meaning one new ordinary fully paid share will be offered for every four existing shares held, at an offer price of AUD $0.01 per share. For each new share issued, one attaching option will also be issued at no cost to retail security holders. The attaching options represent a new class of securities not yet quoted or recorded by ASX, with the security code to be confirmed. ASX has confirmed that the terms of the proposed options are appropriate and equitable under listing rule 6.1. Fractional entitlements for both shares and options will be rounded up to the next whole number.

Attaching Options Terms and Offer Timetable

The attaching options carry an exercise price of AUD $0.015 and an expiry date of 31 October 2027. Upon exercise, each option will result in the issue of one ordinary fully paid OLL share. The filing states that full terms of the options will be detailed in an offer prospectus to be lodged with ASX on or around 4 November 2026. The record date for the entitlement offer is 16 November 2026 and the ex date is 13 November 2026. The filing also states that oversubscription limits, as well as any scale back arrangements, are to be determined by the Board.

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