Ballymore Resources Finalizes Issuance of 2 Million Unquoted Options at $0.22 Exercise Price Expiring December 2028

Ballymore Resources Completes Option Issuance Related to June 2026 Placement

Ballymore Resources Limited has formalized the issuance of 2,000,000 unquoted options classified as BMRAL, dated 3 July 2026. This follows the company’s Appendix 3B lodged on 19 June 2026, which announced the proposed securities issue. The Appendix 3G filed on 3 July 2026 confirms that all securities pertaining to that transaction have now been issued, with no outstanding securities remaining from the placement.

The options are described as "OPTION EXPIRING 31-DEC-2028 EX $0.22," granting holders the right, but not the obligation, to convert each option into one ordinary share at $0.22 per share until 31 December 2028. Being unquoted, these options will not trade on the ASX like ordinary shares, a common practice for options attached to smaller company placements in Australia.

Structure of Free Attaching Options for Placement Participants

The 2,000,000 options were issued without direct cash payment. Ballymore Resources structured them as free attaching options for investors participating in the placement, at a ratio of one free option for every two placement shares issued. This approach is frequently used by ASX-listed junior companies to enhance placement appeal to sophisticated or institutional investors, offering potential upside if the share price exceeds the $0.22 exercise price before December 2028.

Since the options were attached at no extra cost, Ballymore did not receive additional cash from this issuance. Capital will only be raised if option holders exercise their options at $0.22 per share, providing fresh funds. The company did not disclose the total cash raised from the placement or the exact number of placement shares issued beyond the inferred one-for-two option ratio.

BMRAL Options Total 22.4 Million After Latest Issuance

With the addition of 2,000,000 options on 3 July 2026, Ballymore’s total BMRAL options outstanding now amount to 22,410,143. This represents a significant potential pool of ordinary shares if all options are exercised before expiry. At the $0.22 exercise price, full exercise could generate approximately $4.93 million in capital, though no guidance on exercise timing or rates was provided.

Investors should note that the Appendix 3G states the securities-on-issue figures are automatically generated by the ASX system and may not reflect the most current issued capital if other forms are being processed simultaneously. For the latest capital structure, investors should consult Ballymore’s recent Appendix 2A and other ASX updates.

Complete Unquoted Securities Register as of 3 July 2026

The update details Ballymore’s unquoted securities, including 22,410,143 BMRAL options expiring 31 December 2028 at $0.22, 9,788,684 BMRAI options expiring 31 December 2027 at $0.22, 7,000,000 BMRAH options expiring 30 June 2027 at $0.20, and 2,050,000 BMRAJ performance rights.

Altogether, Ballymore holds approximately 39,198,827 unquoted options across three exercise price and expiry combinations, plus 2,050,000 performance rights, all outside the quoted market. This layered option structure creates a staggered timeline of potential dilution and capital inflows over the next two and a half years, with the earliest options expiring 30 June 2027 and the most recent running through to the end of 2028.

Ordinary Shares Reach 243.7 Million Following Placement

Ballymore’s total quoted ordinary fully paid shares now stand at 243,725,266 after the placement that triggered this option issuance. The company did not disclose the number of placement shares issued or their issue price in this update.

Including 39.2 million unquoted options, the fully diluted share count could reach approximately 282.9 million shares assuming full exercise. Exercise prices range from $0.20 to $0.22, indicating the share price levels at which options become in-the-money. The company did not disclose the current share price or market capitalization, and no immediate share price impact was evident from public data.

Transaction Originates from 19 June 2026 Proposed Securities Issue

The Appendix 3G filed on 3 July 2026 references the Appendix 3B lodged on 19 June 2026, which first announced the proposed securities issue. The earlier document described the transaction as "a placement or other type of issue," and the current filing confirms the 2,000,000 BMRAL options issued on 3 July 2026 complete that transaction.

The company confirmed no further securities remain to be issued under the 19 June 2026 Appendix 3B, indicating this placement and associated option issuance are fully settled, providing investors certainty on the completion of the capital raising.

Implications of the $0.22 Exercise Price and December 2028 Expiry

The $0.22 exercise price sets a clear benchmark for future capital events. If Ballymore’s share price exceeds $0.22 before 31 December 2028, option holders may exercise, converting options into ordinary shares and injecting fresh capital. If the price remains below $0.22, these options are likely to expire worthless, causing no dilution from this tranche.

The expiry date offers roughly two and a half years for business development and potential share price appreciation. This timeframe aligns with typical junior resource company exploration and early-stage project development cycles. Investors may watch for exploration results, resource updates, or corporate news that could influence option exercise decisions.

Performance Rights and Ballymore’s Equity Incentive Scheme

Ballymore also has 2,050,000 unquoted performance rights (BMRAJ) outstanding. These are generally granted to directors, management, or key staff as part of equity incentives and vest upon meeting specific performance or service conditions rather than having an exercise price. The company did not disclose vesting terms or expiry details in this update.

The coexistence of performance rights and multiple option tranches indicates an established equity remuneration framework designed to align management and key personnel interests with shareholders. Detailed terms of BMRAJ rights are typically available in separate ASX filings, annual reports, or meeting notices.

Regulatory Requirement for Appendix 3G Filing on Unquoted Options

The Appendix 3G filing is an ASX Listing Rules requirement to notify the exchange when unquoted securities—previously disclosed in an Appendix 3B but not intended for ASX quotation—are issued, converted, or paid up. It is a routine compliance document ensuring transparency and an accurate record of all securities, including those not traded on the market.

For investors, the Appendix 3G offers a periodic update on the company’s total capital structure, highlighting unquoted instruments that may impact future share counts. In Ballymore’s case, the filing confirms the completion of the June 2026 placement’s option component and updates the securities register with both quoted shares and multiple classes of unquoted instruments now outstanding.