Solaris Australian Equity Income Plus Limited (ASX:SET) has lodged an Appendix 3B disclosing a proposed non-renounceable pro rata entitlement offer and a concurrent placement, together seeking to issue a maximum of up to 45,528,367 ordinary fully paid shares, with the entitlement offer priced at AUD $2.02 per share.

Key Points

  • Non-renounceable entitlement offer to issue a maximum of 31,398,874 ordinary fully paid shares at AUD $2.02 each, on a 1-for-3 basis
  • Concurrent placement or other issue of up to 14,129,493 ordinary fully paid shares, with a proposed issue date of 11 December 2026
  • Record date for the entitlement offer is 16 November 2026, with an offer closing date of 4 December 2026
  • Five joint lead managers appointed: Canaccord Genuity, Commonwealth Securities, Morgans Financial, Ord Minnett, and Taylor Collison

Entitlement Offer Structure and Pricing

According to the filing dated 11 November 2026, the non-renounceable entitlement offer will be conducted at a ratio of one new share for every three existing shares held. The offer price for retail security holders is AUD $2.02 per share. The maximum number of securities proposed to be issued under the entitlement offer is 31,398,874 ordinary fully paid shares. Fractional entitlements will be rounded down to the nearest whole number or disregarded. New shares issued under the offer will rank equally in all respects from their issue date with existing ordinary shares.

Offer Timetable and Oversubscription Facility

The ex-date for the entitlement offer is 13 November 2026, with the record date set for 16 November 2026. Offer documents are scheduled to be dispatched to eligible security holders on 19 November 2026. The offer closes on 4 December 2026, with the last day to extend the closing date being 1 December 2026. Trading in new securities on a deferred settlement basis is scheduled to commence on 7 December 2026, with the issue date set for 11 December 2026. Normal T+2 basis trading is expected to begin on 14 December 2026, with the first settlement date on 16 December 2026. Eligible shareholders may apply for more than their entitlement under an oversubscription facility, subject to a shortfall.

Joint Lead Manager Appointments and Fee Arrangements

The filing names five joint lead managers: Canaccord Genuity (Australia) Limited, Commonwealth Securities Limited, Morgans Financial Limited, Ord Minnett Limited, and Taylor Collison Limited. Under the Offer Management Agreement, Solaris Investment Management Limited, as manager of the company, will pay each joint lead manager a management fee of 1.00% (plus GST) of the aggregate value of new shares issued to institutional, professional and sophisticated investors allocated to them, and a selling fee of 1.25% (plus GST) of the aggregate value of new shares on applications made through the respective joint lead manager. A bookrunner fee of $150,000 (plus GST) will be paid equally to Morgans Financial Limited and Taylor Collison Limited. The offer is not underwritten.