Algorae Pharmaceuticals Announces Bradley Dilkes' Departure with Final Director Interest Disclosure

Direct Share Ownership Held by Bradley Dilkes in Algorae Pharmaceuticals

At the time of his resignation on 14 July 2026, Bradley John Dilkes directly owned 20,000,000 fully paid ordinary shares in Algorae Pharmaceuticals Limited. This substantial direct investment highlights Dilkes' significant financial commitment to the company during his directorship. Disclosure of direct shareholdings complies with ASX listing rule 3.19A.3, ensuring market transparency regarding directors' securities interests.

This direct shareholding is a key component of Dilkes' overall investment in the company. Directors must declare their registered security holdings, which become public record upon their departure. The magnitude of this direct stake offers insight into Dilkes' financial exposure and alignment with Algorae Pharmaceuticals' strategic objectives throughout his tenure.

Indirect Shareholdings via Controlled Entities

Beyond his direct holdings, Dilkes maintained indirect interests through two wholly owned entities: Cipater Pty Ltd, holding 27,150,000 fully paid ordinary shares, and Cichli Pty Ltd, holding 5,000,000 shares. Both entities are fully controlled by Dilkes, attributing these shares to him under the Corporations Act and ASX regulations.

Utilizing corporate entities to hold shares is common for commercial, tax, or administrative purposes. The disclosure of these indirect interests ensures full transparency of Dilkes' total investment position. Such arrangements must be reported upon a director's exit, with the Final Director's Interest Notice fulfilling this regulatory requirement.

Regulatory Compliance and Filing Obligations

Under ASX listing rules and the Corporations Act, Algorae Pharmaceuticals is mandated to lodge director interest notices upon changes in directorship. The Final Director's Interest Notice submitted confirms Dilkes' securities holdings as of 14 July 2026, providing investors with precise and current information relevant to their investment decisions.

This filing underscores Algorae Pharmaceuticals' dedication to robust corporate governance and transparency. ASX rules are designed to protect investors by ensuring timely disclosure of material director interests. By lodging this final notice, the company fulfills its legal and regulatory duties regarding the departing director's shareholding and exit circumstances.

Disclosure Timeline and Previous Notifications

The last interest notice for Bradley Dilkes was dated 3 October 2025, approximately nine months before his resignation on 14 July 2026. This interval suggests a structured transition process. The final notice supersedes prior disclosures, providing the definitive record of Dilkes' shareholdings at his departure.

Director interest disclosures follow strict timelines to ensure market participants receive timely updates. Algorae Pharmaceuticals’ filing guarantees that investors have a complete and accurate account of Dilkes’ shareholdings at the termination of his directorship.

No Contractual Interests Reported

Section 3 of the Final Director's Interest Notice, addressing directors' contract interests, indicates "N/A" for Dilkes, confirming he held no reportable contract interests with Algorae Pharmaceuticals at resignation. This absence simplifies the transition and indicates no ongoing contractual ties between Dilkes and the company beyond his shareholdings.

Disclosure of contract interests is vital to identify potential conflicts or ongoing commercial relationships. The confirmation of none provides investors assurance of a clean separation between Dilkes and the company following his departure.

Company Overview and Market Standing

Algorae Pharmaceuticals Limited, listed on the Australian Securities Exchange under ticker 1AI, operates in the pharmaceutical and healthcare sector. Registered with Australian Business Number 14 104 028 042, the company adheres to ASX continuous disclosure and governance standards, ensuring transparent communication with investors and regulators regarding material developments and director changes.

The pharmaceutical industry demands stringent regulatory compliance, significant R&D investment, and capital intensity. As a listed entity, Algorae Pharmaceuticals maintains strong governance to meet stakeholder expectations and regulatory requirements. Director departures and associated disclosures are routine governance events that enhance investor transparency about leadership and ownership.

Regulatory Framework Governing Director Interest Notices

The Final Director's Interest Notice is governed by ASX listing rule 3.19A.3 and section 205G of the Corporations Act. These regulations require detailed disclosure of directors' securities interests, whether direct or indirect, ensuring full market visibility of such holdings.

This final notice serves as the conclusive disclosure for a departing director. Once lodged, the information becomes ASX property and is publicly accessible, promoting market integrity by providing equal access to material information regarding the director’s final shareholding.

Investor Implications and Monitoring

Investors tracking leadership and ownership changes will find the Final Director's Interest Notice valuable. The disclosed shareholdings reflect Dilkes' financial stake upon departure, aiding assessment of his alignment with company performance and providing insight into the company's ownership structure.

While the announcement does not specify the percentage of total issued capital these holdings represent, the absolute share numbers enable investors to cross-reference with market capitalization data to gauge Dilkes' investment significance. This transparency supports informed investment decisions in Algorae Pharmaceuticals’ securities.