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Auric Mining Limited (ASX:AWJ) has announced a change in director Mark Anthony English’s relevant interests following the issuance of unquoted options and performance rights on 26 June 2026. These securities were granted under ASX Listing Rule 10.11 after shareholders approved the issuance at the company’s Annual General Meeting on 28 May 2026. The update, submitted via an Appendix 3Y director’s interest notice, reveals a substantial increase in English’s direct and indirect holdings across multiple option tranches and six categories of performance rights. Investors should note that these securities include performance-based vesting criteria and have expiry dates extending to 26 June 2031.
Key Points
- Company: Auric Mining Limited (ASX:AWJ)
- Director Mark Anthony English received options and performance rights on 26 June 2026 following shareholder approval at the 28 May 2026 AGM
- Issued securities include Tranche 2, 3, and 4 unquoted options at an exercise price of $0.237 expiring 26 June 2031, plus Class A, C, D, E, F, and H Performance Rights expiring 26 June 2031
- All securities carry performance or other vesting conditions; no cash was paid by the director for these grants
- Investors should monitor updates on vesting conditions and any further director interest disclosures as milestones are evaluated
Shareholder Approval at 28 May 2026 AGM Enables Option and Performance Right Issuance
The change in director interests is based on shareholder approval at Auric Mining’s Annual General Meeting on 28 May 2026. The company issued the securities to Mark Anthony English on 26 June 2026 under ASX Listing Rule 10.11, which governs related party securities issuance and requires prior shareholder consent. This ensures shareholder interests are considered before equity-based remuneration is granted to insiders.
The Appendix 3Y references the Notice of Meeting dated 24 April 2026, which details the performance-based vesting conditions attached to the performance rights. The specific vesting milestones were not restated in the Appendix 3Y but all performance rights will lapse if unvested by 26 June 2031.
Three Tranches of Unquoted Options Granted at $0.237 Exercise Price
On 26 June 2026, English received three tranches of unquoted options, each with an exercise price of $0.237 and expiry on 26 June 2031. He was granted 240,625 Tranche 2 options, 240,625 Tranche 3 options, and 208,334 Tranche 4 options in his name. These unquoted securities are subject to vesting conditions as outlined in the company’s Notice of Meeting.
Additionally, an equal number of options were issued indirectly through Elizabeth Anne Saunders, English’s spouse: 240,625 Tranche 2 options, 240,625 Tranche 3 options, and 208,333 Tranche 4 options. The one-option difference in Tranche 4 between direct and indirect holdings is noted in the filing. The eventual value depends on Auric Mining’s share price relative to the $0.237 exercise price at the time of exercise.
Majority of Securities Comprise Six Classes of Performance Rights
The bulk of the issuance consists of six classes of performance rights: Class A, C, D, E, F, and H. English received 250,000 Class A, 750,000 Class C, 500,000 Class D, 750,000 Class E, 750,000 Class F, and 750,000 Class H Performance Rights directly. The same quantities were issued indirectly through Elizabeth Anne Saunders.
These performance rights are a standard long-term incentive for ASX-listed executives and convert into ordinary shares only upon meeting specified performance hurdles detailed in the 24 April 2026 Notice of Meeting. All are unquoted and will lapse if unvested by 26 June 2031. No cash was paid by English for these securities.
Pre-Existing Indirect Holdings Remain Unchanged
Before 26 June 2026, English held no direct Auric Mining securities. His existing interests were fully indirect, held across various entities and trusts. These include 5,232,167 fully paid ordinary shares via 13 Nominees Pty Ltd under the MEES Superannuation Fund, and 2,501,673 shares via Citicorp Nominees Pty Ltd also under MEES Super Fund. English is a director and shareholder of 13 Nominees Pty Ltd and a member and beneficiary of the MEES Super Fund.
Additionally, 1,412,100 shares are held by Citicorp Nominees Pty Ltd under The Hackney Trust, where English is a beneficiary. The Onslow Consulting Trust, held through LBL (WA) Pty Ltd—of which English is director, shareholder, and beneficiary—holds 300,000 Tranche 1 unquoted options at $0.225 exercise price expiring 31 January 2029, subject to vesting conditions. These holdings were unaffected by the 26 June 2026 transaction.
Structure of Indirect Interest via Elizabeth Anne Saunders
The director interest notice includes English’s spouse, Elizabeth Anne Saunders, as a holder of the newly issued Auric Mining securities, in which English holds a relevant interest under the Corporations Act and ASX rules. This requires disclosure of securities held by close associates such as spouses.
Elizabeth Anne Saunders holds the same classes and quantities of options and performance rights as English: 240,625 Tranche 2 options, 240,625 Tranche 3 options, 208,333 Tranche 4 options (all at $0.237 exercise price expiring 26 June 2031), plus 250,000 Class A, 750,000 Class C, 500,000 Class D, 750,000 Class E, 750,000 Class F, and 750,000 Class H Performance Rights. This mirroring of direct and spousal holdings is common in director remuneration to align household interests with long-term incentives.
Mark Anthony English’s Complete Auric Mining Security Holdings Post-26 June 2026
Following the issuance, English’s total relevant interest includes both direct and indirect holdings across shares, options, and performance rights. Directly, he holds 240,625 Tranche 2 options, 240,625 Tranche 3 options, 208,334 Tranche 4 options, and the six classes of performance rights in the amounts previously stated.
Indirect holdings include 5,232,167 shares via 13 Nominees Pty Ltd (MEES Super Fund), 2,501,673 shares via Citicorp Nominees Pty Ltd (MEES Super Fund), 300,000 Tranche 1 options via LBL (WA) Pty Ltd (Onslow Consulting Trust), 1,412,100 shares via Citicorp Nominees Pty Ltd (The Hackney Trust), and through Elizabeth Anne Saunders: 240,625 Tranche 2 options, 240,625 Tranche 3 options, 208,333 Tranche 4 options, and the six classes of performance rights. Total indirect ordinary shares amount to 9,145,940 fully paid shares across all entities.
Vesting Conditions and Expiry Dates Define Long-Term Value of Performance Rights
The value of the performance rights and options depends entirely on meeting vesting conditions before 26 June 2031. The Notice of Meeting dated 24 April 2026 outlines the specific performance hurdles. Any unvested rights will lapse on expiry.
The options have an exercise price of $0.237 and will only be valuable if Auric Mining’s share price exceeds this before expiry. These vesting and exercise terms provide insight into the company’s performance targets for director incentives. The immediate market impact of this director interest notice was not evident from public data.
No Closed Period Trading or Contractual Interest Changes Reported
The Appendix 3Y confirms no trading of these securities occurred during a closed period requiring prior clearance, complying with company policies and regulations.
Part 2 of the notice, covering changes to contractual interests, was marked not applicable, and Part 3 confirmed no closed period issues. These routine disclosures affirm the transaction’s regulatory compliance and that no special approvals were needed.
Implications of This Director Interest Update for Auric Mining Investors
The issuance of performance rights and options with multi-year vesting and a 2031 expiry aligns management’s interests with the company’s long-term growth. The nil cash consideration indicates these are at-risk incentives that only yield value if Auric Mining meets performance milestones.
Investors and analysts should review the 24 April 2026 Notice of Meeting for details on the performance benchmarks. Upcoming board assessments of vesting conditions will be key events to watch. Any future director interest changes, including vesting, option exercises, or disposals, will trigger further Appendix 3Y disclosures as required by ASX rules.
