Surefire Resources NL (ASX:SRN) has completed the allotment of new options under its non-renounceable rights issue, with shareholders accepting entitlements for 44,245,660 new options exercisable at $0.05 each on or before 30 June 2029, the company disclosed on 5 November 2026.

Key Points

  • Shareholders applied for 44,245,660 new options under the Prospectus dated 9 October 2026, with options exercisable at $0.05 each on or before 30 June 2029.
  • The board issued 4,472,953 additional shortfall securities to eligible shareholders who applied for more than their full entitlement, capped at a number equal to their original entitlement.
  • A remaining shortfall of approximately $41,875 (approximately 41,874,778 new shares, subject to rounding) has been reserved for directors to issue at their discretion.
  • Total options to acquire fully paid ordinary shares exercisable at $0.05 and expiring 30 June 2029 (SRNO) now stand at 48,718,603, subject to satisfying ASX quotation conditions.

Rights Issue Entitlements and Shortfall Securities

The non-renounceable rights issue was originally announced on 5 October 2026, with the associated Prospectus dated 9 October 2026. Under the terms of that Prospectus, shareholders submitted applications for 44,245,660 new options. The board also issued 4,472,953 additional shortfall securities to eligible shareholders who applied for more than their full entitlement, with the allocation capped at a number equal to each applicant's original entitlement. Holding statements were expected to be dispatched on 5 November 2026, the date of the filing. The company stated it is in the process of complying with ASX Listing Rules in relation to quotation of the new options.

Remaining Shortfall and Director Discretion

Following the allotment of new options pursuant to shareholder entitlements, a remaining shortfall of approximately $41,875, equating to approximately 41,874,778 new shares subject to rounding, has not been taken up. According to the filing, the directors reserve the right to issue this remaining shortfall at their discretion. No further details regarding the timing or conditions of any potential shortfall issuance were disclosed in the filing.

Updated Issued Capital Following Allotment

Following the allotment, the company's issued capital comprises 226,186,762 fully paid ordinary shares (including 4 million shares which can be bought back by SRN for nil consideration), 14,042,986 options exercisable at $0.475 expiring 30 November 2026 (SRNOD), 45,359,405 options exercisable at $0.10 expiring 11 July 2027 (SRNOE), 48,718,603 options exercisable at $0.05 expiring 30 June 2029 (SRNO, subject to satisfying ASX quotation conditions), and 3,600,000 unlisted partly-paid ordinary shares.