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CGN Resources Limited (ASX:CGR) has informed the market that 4,166,666 unlisted options expired on 30 June 2026 without being exercised or converted. These options, traded under the code CGRAH with a $0.25 exercise price, lapsed unexercised, resulting in no issuance of new ordinary shares. The company filed the formal Appendix 3H notification on 16 July 2026 to confirm the expiry and update its issued capital status. Investors monitoring CGN Resources’ capital structure should note the adjustment in outstanding options following this expiry.
Key Points
- CGN Resources Limited (ASX:CGR) submitted an Appendix 3H on 16 July 2026 confirming the expiry of unlisted options
- 4,166,666 options under code CGRAH with a $0.25 exercise price expired on 30 June 2026 unexercised
- No payment was made by the company regarding the expiry of these options
- Post-expiry, CGR’s quoted ordinary fully paid shares total 115,173,191, with several unquoted option classes still outstanding
- Investors should monitor the remaining unquoted options expiring in July and August 2026 for potential exercises
CGN Resources Confirms CGRAH Option Expiry as of 30 June 2026
On 16 July 2026, CGN Resources Limited officially notified the market that 4,166,666 unlisted options expired on 30 June 2026. These options, identified by ASX code CGRAH and carrying a $0.25 exercise price, were not exercised or converted before expiry. Consequently, holders did not convert these options into ordinary shares at the $0.25 price point.
The company’s Appendix 3H filing clarified that no consideration was paid for the expiry of these options, aligning with typical market practice where expired options lapse without compensation. This notification updates the market on CGN Resources’ current capital structure and formally removes the CGRAH option class from its issued capital schedule.
Impact of Unexercised CGRAH Options on CGN Resources’ Share Capital
The expiry of unexercised options permanently eliminates the potential dilution those options represented. The 4,166,666 CGRAH options would have allowed issuance of new shares at $0.25 each if exercised. Since they lapsed unexercised, no new shares were issued and the company received no exercise proceeds from this option class.
Following expiry, CGN Resources’ quoted ordinary fully paid shares stand at 115,173,191. This figure represents the company’s current quoted equity base as recorded by ASX. The Appendix 3H filing notes that the disclosed issued capital may not reflect all pending changes if other forms are being processed concurrently. Investors should consider this when evaluating the capital structure.
Remaining Unquoted Options and Upcoming Expiry Dates for CGN Resources
Despite the CGRAH options expiry, CGN Resources retains several classes of unquoted options. According to the Appendix 3H, these include 8,000,000 CGRAC options expiring 31 July 2026 at $0.25 exercise price; 8,000,000 CGRAE options expiring 18 August 2026 at $0.25; 3,000,000 CGRAF options expiring 18 August 2026 at $0.30; and 5,000,000 CGRAG options expiring 18 August 2026 at $0.35.
Additionally, there are 1,000,000 CGRAJ options expiring 24 April 2028 at a $0.20 exercise price, providing a longer-term expiry horizon. Collectively, these outstanding unquoted options represent a significant potential share issuance if exercised before their deadlines. Investors and analysts should track these expiry dates to assess dilution risk and potential capital inflows.
Near-Term Expiry Deadlines for CGN Resources’ Options Through August 2026
The remaining option expiries are concentrated in the near term. The 8,000,000 CGRAC options at $0.25 expire on 31 July 2026, giving holders a limited window to exercise. If unexercised, this would further reduce the company’s unquoted option overhang without generating proceeds.
On 18 August 2026, three option classes—CGRAE, CGRAF, and CGRAG—expire, totaling 16,000,000 options with exercise prices of $0.25, $0.30, and $0.35 respectively. The decision to exercise will depend on market conditions, CGN Resources’ share price, and holder preferences. The company has not provided guidance on expected exercises or proceeds for these options.
CGN Resources’ Capital Structure Post-CGRAH Option Expiry
With CGRAH options expired, CGN Resources’ issued capital includes 115,173,191 quoted ordinary fully paid shares plus five remaining unquoted option classes. If all outstanding options were exercised, up to 25,000,000 new shares could be issued, representing a notable increase relative to the current share count. However, there is no certainty these options will be exercised before expiry.
The company did not comment on capital management strategies or future capital raisings in this update. The Appendix 3H filing is a routine ASX regulatory requirement to notify changes in issued capital. The CGRAH option class is now formally removed from CGN Resources’ capital schedule and will no longer be active.
Regulatory Compliance and Appendix 3H Filing by CGN Resources
ASX Listing Rules mandate companies to notify the exchange when securities cease to exist through expiry, cancellation, or conversion. The Appendix 3H form is the standard reporting mechanism. CGN Resources lodged this form on 16 July 2026, approximately 16 days after the 30 June 2026 expiry of CGRAH options, detailing the number of options expired, reason for cessation, and updated issued capital.
The filing also confirmed no consideration was paid upon expiry, a standard disclosure to maintain transparency for market participants. This filing reflects CGN Resources’ commitment to regulatory compliance and provides accurate, timely information about its capital structure.
Investor Considerations Following CGRAH Option Expiry
After the CGRAH options expired, investors should focus on the upcoming expiry schedule for remaining options. The CGRAC options expire 31 July 2026, and three further classes expire 18 August 2026, marking a critical period for potential option exercises. Outcomes will influence CGN Resources’ cash inflows and share count, impacting shareholder dilution.
The longer-dated CGRAJ options, expiring in April 2028, remain relevant but less immediate. Investors should also note that the Appendix 3H figures may not capture all pending capital changes if other forms are being processed simultaneously, as noted by the company. Future announcements, including additional Appendix 3H filings, will clarify the evolving share and option register. No immediate share price impact from this update was evident from public information.
