Reward Minerals Ltd (ASX:RWD) has disclosed a change in the relevant interests of director Michael Ruane following the expiry of 5,000,000 unlisted options on 5 November 2026, with the options lapsing without exercise or conversion.

Key Points

  • Director Michael Ruane held 5,000,000 unlisted options (RWDAD), expiring 5 November 2026 at an exercise price of $0.12, which lapsed without exercise or conversion.
  • Following the expiry, Ruane retains a total of 113,635,809 fully paid ordinary shares held across direct and indirect interests.
  • The change in interests was not associated with an on-market or off-market trade, and no consideration was received.
  • The securities were not traded during a closed period requiring prior written clearance.

Expiry of Unlisted Options Held by Director Michael Ruane

According to the filing lodged with ASX on 6 November 2026, the 5,000,000 unlisted options (RWDAD) previously held by Reward Minerals director Michael Ruane expired on 5 November 2026 at an exercise price of $0.12. The nature of change was recorded as the expiry of unlisted options without exercise or conversion, and the filing states that consideration was not applicable. No options were acquired as part of this change. The previous date of notice for Ruane's director interest disclosure was 16 July 2026.

Director's Securities Holdings Before and After the Change

Prior to the change on 5 November 2026, Ruane held, directly and indirectly, a total of 113,635,809 fully paid ordinary shares and 5,000,000 unlisted options (RWDAD). The shares were distributed across a direct holding of 16,798,775 shares; Tyson Resources Pty Ltd with 16,001,116 shares; Kesli Chemicals Pty Ltd – Ruane Super Fund with 45,170,401 shares; and Kesli Chemicals Pty Ltd with 35,665,517 shares. Following the expiry of all options, the total ordinary share count of 113,635,809 remained unchanged.

Nature of Indirect Interests Disclosed in the Filing

The filing identifies Ruane's indirect interests as being held through three entities: Tyson Resources Pty Ltd, in which he is a director; Kesli Chemicals Pty Ltd acting as trustee for the Ruane Super Fund; and Kesli Chemicals Pty Ltd, in which he is also a director. Prior to the 5 November 2026 change, options were held across the direct holding (1,650,000 RWDAD), Tyson Resources Pty Ltd (1,700,000 RWDAD), and Kesli Chemicals Pty Ltd (1,650,000 RWDAD). All options across these holdings have now expired. The filing states that Part 2, covering changes in interests in contracts, is not applicable.