OpenLearning Updates Timetable for Non-Renounceable Entitlement Offer of Up to 199,284,950 Shares

Aakashdeep

05 November 2026 03:14 PM AEDT

OpenLearning Updates Timetable for Non-Renounceable Entitlement Offer of Up to 199,284,950 Shares

Image Source: Krish Capital Pty Ltd

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OpenLearning Limited (ASX:OLL) has filed an updated Appendix 3B with ASX, amending the timetable for its proposed non-renounceable pro rata entitlement offer, with the update dated 5 November 2026 and referencing a previous announcement made on 2 November 2026.

Key Points

OpenLearning is conducting a non-renounceable pro rata entitlement offer at a ratio of 1 new share for every 4 existing shares held, at an offer price of AUD $0.01 per share.
The maximum number of ordinary fully paid shares proposed to be issued is 199,284,950, with fractional entitlements rounded up to the next whole number.
Each new share issued will carry one attaching option with an exercise price of AUD $0.015 and an expiry date of 31 October 2027, up to a maximum of 199,284,950 options.
The record date for the offer is 13 November 2026, with the offer closing date set for 3 December 2026 and the issue date scheduled for 10 December 2026.

Updated Offer Timetable Details

According to the filing, the ex date for the entitlement offer is 12 November 2026, and offer documents are to be sent to eligible security holders on 18 November 2026. The last day to extend the offer closing date is 30 November 2026, and trading in new securities on a deferred settlement basis is scheduled to commence on 4 December 2026. Normal T+2 basis trading is set to begin on 11 December 2026, with the first settlement date for trades conducted on both a deferred settlement basis and normal T+2 basis falling on 15 December 2026.

Entitlement Offer and Attaching Options Structure

The offer is structured as a standard non-renounceable pro rata issue of ordinary fully paid shares in an existing class. Individual security holders will be permitted to apply for more than their entitlement, with over-subscription limits to be determined by the Board. The attaching options are a new class of securities, with one option issued for each new share subscribed. The options will be issued at no cost to shareholders and each option, if exercised, entitles the holder to one ordinary fully paid share. The company disclosed that full option terms will be detailed in an offer prospectus lodged with ASX on or around 4 November 2026.

Securities Ranking and ASX Quotation

The filing states that the new ordinary shares proposed to be issued will rank equally in all respects from their issue date with existing issued securities in that class. The attaching options are a new class for which ASX quotation will not be sought, according to the filing. OpenLearning has received confirmation from ASX that the terms of the proposed options are appropriate and equitable under listing rule 6.1. The company disclosed that all securities issued in the new options class will rank equally in all respects from their issue date.

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