Zenith Minerals Limited (ASX:ZNC) has applied for quotation of 200,000 fully paid ordinary shares on the ASX, issued on 11 November 2026 following the exercise of options under the ZNCOA series, which carries an expiry date of 31 July 2027, at an issue price of AUD $0.077 per security.

Key Points

  • 200,000 ZNCOA options (expiring 31 July 2027) were exercised on 11 November 2026, converting into 200,000 fully paid ordinary ZNC shares.
  • The issue price per security was AUD $0.077, with consideration paid in Australian dollars.
  • The newly issued shares rank equally in all respects from their issue date with existing ordinary shares on issue.
  • Following quotation, total quoted ZNC ordinary fully paid shares on issue stand at 672,830,033.

Option Exercise and Share Issuance Details

According to the filing lodged on 12 November 2026, the 200,000 securities were issued as a result of options being exercised, with both the first and last date of exercise recorded as 11 November 2026. The options converted from the existing class ZNCOA — described as options expiring 31 July 2027 — into the existing quoted class ZNC ordinary fully paid shares. The securities were not issued under an employee incentive scheme, and the underlying securities are being received directly by the holder. The cash consideration for the issue was denominated in Australian dollars at AUD $0.077 per security.

Issued Capital Following Quotation

Following the quotation of the 200,000 new ordinary shares, the total number of quoted ZNC ordinary fully paid securities on issue is disclosed as 672,830,033. The total number of quoted ZNCOA options expiring 31 July 2027 remaining on issue is 31,801,821. The company's unquoted securities include 500,000 ZNCAP options expiring 15 December 2026 at an exercise price of $0.21, 500,000 ZNCAQ options expiring 15 December 2027 at $0.25, and 3,750,000 ZNCAR options expiring 31 July 2027 at $0.077, according to the filing.

Securities Classification and Ranking

The filing confirms the newly quoted securities form part of an existing class already quoted on ASX and are not a new class of securities. The application was made under Appendix 2A of the ASX Listing Rules, covering securities issued as a result of convertible securities being converted where the issue had not previously been notified to ASX via an Appendix 3B. Zenith Minerals confirmed the new shares rank equally in all respects from their issue date with all other existing fully paid ordinary shares in the same class currently on issue.