Zenith Minerals Limited (ASX:ZNC) has disclosed a change in director Stanley Macdonald's relevant interests in securities, following the exercise of vested performance rights that resulted in the issue of 7,000,000 ordinary shares on 6 November 2026.

Key Points

  • Director Stanley Macdonald exercised vested performance rights on 6 November 2026, resulting in 7,000,000 ordinary shares being issued.
  • A total of 7,000,000 performance rights across five classes (A, B, C, D and E) — 1,400,000 in each class — were disposed of as part of the transaction.
  • The shares were issued for nil cash consideration, with the nature of the change recorded as the issue of shares on exercise of vested performance rights.
  • The interest is held indirectly through Creekwood Nominees Pty Ltd, trading as The Challenger Account, with Macdonald serving as a director of that entity.

Performance Rights Conversion Details

According to the filing lodged with ASX, the change in Stanley Macdonald's director interest occurred on 6 November 2026. Prior to the change, Macdonald held 1,400,000 Class A Performance Rights, 1,400,000 Class B Performance Rights, 1,400,000 Class C Performance Rights, 1,400,000 Class D Performance Rights, and 1,400,000 Class E Performance Rights, totalling 7,000,000 performance rights across all classes. All five classes of performance rights were disposed of as part of the exercise. The consideration for the transaction was nil, with the filing stating the shares were issued on the exercise of vested performance rights.

Indirect Interest Held Through Creekwood Nominees

The filing discloses that Stanley Macdonald's interest in the securities is indirect, held through Creekwood Nominees Pty Ltd under The Challenger Account. Macdonald holds this indirect interest in his capacity as a director of Creekwood Nominees Pty Ltd. Following the change, Macdonald's securities holding through this entity consists of 7,000,000 ordinary shares in Zenith Minerals Limited. Prior to the transaction, the holding comprised performance rights only, with no ordinary shares disclosed in the previous notice dated 6 November 2026.

Closed Period and Contract Interest Disclosures

The filing states that the interests in securities detailed in the notice were not traded during a closed period where prior written clearance was required. The director's interests in contracts section of the notice records no changes, with all fields in Part 2 noted as not applicable. The filing was submitted by Zenith Minerals Limited under ASX Listing Rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act. The entity's ABN is disclosed as 96 119 397 938.