Artrya Limited Cancels 975,000 Unquoted Options in Three Tranches Effective July 15, 2026

Cancellation of 975,000 Options Across Three AYAA Tranches Effective 15 July 2026

Artrya Limited submitted an Appendix 3H to the ASX on 15 July 2026 confirming the cancellation of 975,000 unquoted options across three classes: AYAAAG (325,000 options, $1.35 exercise price), AYAAAH (325,000 options, $3.00 exercise price), and AYAAAI (325,000 options, $5.00 exercise price), all expiring 20 June 2027. Each tranche was fully cancelled, leaving zero securities on issue for these classes.

The cessation reason was classified as "Other," with the company clarifying cancellations were "in accordance with the terms of the options." No consideration was paid by Artrya for these cancellations. This disclosure complies with ASX Listing Rules requirements for reporting securities cancelled prior to expiry. All cancellations were effective simultaneously on 15 July 2026.

Structure and Exercise Prices of the Cancelled Option Tranches

All three cancelled option tranches shared the same original expiry date of 20 June 2027, indicating they were likely issued under a coordinated capital management or incentive plan. The exercise prices varied—$1.35, $3.00, and $5.00—reflecting a tiered incentive structure common in employee or director equity arrangements. The cancellation of higher exercise price options prior to expiry suggests specific circumstances or market conditions influenced this outcome, though Artrya did not disclose the original intent behind these options.

The cancellation of the $1.35 tranche is notable given Artrya’s existing options with exercise prices as low as $0.215 and $0.25. The company did not specify whether cancellations were triggered by factors such as option holder resignation or unmet vesting conditions. Investors seeking further clarity should monitor future company disclosures or shareholder communications.

Artrya’s Ordinary Share Count and Remaining Equity Securities Following Cancellation

Following the cancellation of 975,000 options, Artrya’s updated issued capital table shows 162,963,615 fully paid ordinary shares outstanding. The cancellations did not affect this share count, as no new shares were issued. This reduces potential future dilution from these options.

Remaining unquoted equity instruments include 2,088,331 performance rights (AYAAAF), 610,833 restricted stock units (AYAAAN), and multiple option tranches. Noteworthy outstanding options include 1,580,000 expiring 21 November 2028 at $0.215 (AYAAAK), 1,180,000 expiring 12 March 2029 at $0.292 (AYAAAL), 1,180,000 expiring 11 June 2029 at $0.25 (AYAAAM), and 405,000 expiring 30 September 2029 at $0.26 (AYAAAP). Several tranches expiring in early 2027 have exercise prices ranging from $1.095 to $5.00. The company has not disclosed vesting conditions for these instruments.

Upcoming Option Expiries in January and April 2027 Signal Near-Term Capital Structure Changes

With the 20 June 2027 tranches cancelled, focus shifts to options expiring soon. Three tranches expire 13 January 2027: AYAAL (1,300,000 options at $1.35), AYAAM (1,300,000 at $3.00), and AYAAN (1,300,000 at $5.00), totaling 3,900,000 options. Additionally, AYAAO includes 2,054,795 options expiring 8 April 2027 at $1.095. These options will be exercised, lapse, or cancelled per their terms before expiry.

Other near-term expiries include 650,000 options under AYAAAB (28 March 2027, $3.00), 650,000 under AYAAAC (28 March 2027, $5.00), 500,000 under AYAAAD (1 July 2027, $1.50), and 1,300,000 under AYAAL (13 January 2027, $1.35). These upcoming expiries represent potential dilution events. The company did not provide guidance on expected exercise activity.

Significance of Appendix 3H Filing for Shareholders and Market Transparency

The Appendix 3H form is an ASX regulatory requirement for notifying security cessation, including cancellations and expiries. Artrya’s filing ensures compliance with continuous disclosure obligations, keeping the market informed of capital structure changes. This publicly accessible document on the ASX Market Announcements Platform contributes to transparency regarding issued capital.

For investors, the Appendix 3H provides updated data critical for market capitalisation and dilution assessments. The company notes that issued capital figures are automatically generated and may not reflect the absolute current capital if other filings are pending. Investors should verify capital structure using all relevant ASX filings.

Broader Capital Structure: Performance Rights and Restricted Stock Units Remain Outstanding

Beyond options, Artrya has 2,088,331 performance rights (AYAAAF) and 610,833 restricted stock units (AYAAAN) outstanding. These equity incentives typically convert into ordinary shares upon meeting performance or service conditions, usually without an exercise price, potentially causing dilution upon conversion. The company did not update vesting status or expected conversion timelines in this release. Investors should consult remuneration reports and equity plan disclosures for full dilution analysis. Combined, these instruments represent approximately 2,699,164 potential future shares.

Artrya’s Business Overview: AI-Driven Cardiac Imaging Technology

Artrya Limited develops AI-powered software for coronary computed tomography angiography (CCTA) analysis. Its flagship product, Salix, automates coronary artery disease assessment from CT scans to enhance diagnostic accuracy and efficiency in cardiac care. Artrya pursues regulatory approvals in key markets as part of its commercial strategy within the medtech and digital health sectors, which have faced intense capital market scrutiny recently.

The relatively high exercise prices of some option tranches, including the cancelled $3.00 and $5.00 options, reflect historical periods when Artrya’s share price was significantly higher than current trading levels, as indicated by lower-priced options now outstanding ($0.215, $0.25, $0.26). This context explains why certain options were cancelled unexercised before expiry. The company did not provide updates on commercial progress, revenue, or strategic outlook in this announcement.

Investor Implications: No Consideration Paid and No New Shares Issued in Cancellation

Importantly, Artrya paid no consideration for the cancellation of the three option tranches, making this a purely administrative reduction in unquoted securities without cash outflow or new share issuance. The ordinary share count remains at 162,963,615 shares, with no immediate balance sheet impact.

For investors, cancelling 975,000 options that were either out-of-the-money or subject to cancellation conditions reduces potential dilution, which is a modestly positive development. However, the impact should be considered alongside the substantial remaining unquoted equity instruments detailed in the updated capital table. No immediate share price effect was evident from public information.

Risks Related to Artrya’s Capital Structure and Equity Overhang

Key risks include dilution from remaining unquoted equity securities. Multiple option tranches, performance rights, and restricted stock units could convert into ordinary shares, increasing share count and diluting earnings per share. Options with exercise prices as low as $0.215 may incentivize holders to exercise if the share price rises above these levels, triggering new share issuance.

As a medtech company likely in pre-revenue or early revenue stages—the company did not disclose financials here—Artrya may require future capital raises, which could further dilute shareholders depending on terms. Additionally, regulatory challenges, clinical adoption rates of AI diagnostic tools, and competitive pressures in cardiac imaging software pose sector-specific and company-specific risks that could impact Artrya’s commercial success and share price over time.