Haranga Resources Director Jeremy King Converts 2 Million Performance Rights into Shares Following Milestone Vesting

Jeremy King’s Shareholding in Haranga Resources Jumps to 2,211,500 Shares After Milestone Vesting

On 30 June 2026, Haranga Resources director Jeremy King significantly increased his direct holding of fully paid ordinary shares by converting his Class A and Class B performance rights. Before this transaction, King held 200,000 ordinary shares. The conversion of 2,011,500 performance rights raised his total direct shareholding to 2,211,500 fully paid ordinary shares, marking a substantial increase in his equity stake.

The change was reported through a statutory Appendix 3Y filing, required whenever a director’s relevant securities interests change. King’s prior notice was dated 17 July 2025, making this the first update since then. The transaction took place outside any closed trading period, so no prior written clearance was necessary.

Milestone A and B Vesting Prompt Share Issuance Through Performance Rights Conversion

The 2,011,500 shares issued to Jeremy King resulted from the vesting of Milestone A and Milestone B performance rights. Prior to conversion, King held 894,000 Class A and 1,117,500 Class B performance rights, in addition to Class C and Class D rights. The combined conversion of Class A and B rights accounts for the newly issued shares.

This performance rights structure is typical among ASX-listed companies to align directors’ incentives with achieving corporate milestones. The vesting of Milestone A and B indicates Haranga Resources has met the associated performance conditions. For more details, the company referred investors to a separate update dated 30 June 2026, although specific milestone details were not included in the director’s notice.

Nominal $0.0001 Payment Reflects Standard Conversion Terms

Jeremy King paid a nominal amount of $0.0001 per share for the 2,011,500 shares issued, consistent with common practice for performance rights conversions. This amount reflects the contractual conversion price set when the rights were granted, not the market value of the shares at conversion.

Performance rights granted to directors in Australia typically carry a nominal or zero exercise price, with value realized upon vesting based on the underlying share price. The market price of Haranga Resources shares around 30 June 2026 was not disclosed in this notice.

Unvested Class C and D Performance Rights Remain Substantial

Following the conversion of Milestone A and B rights, Jeremy King still holds 1,117,500 Class C and 1,341,000 Class D performance rights, totaling 2,458,500 unvested rights. These represent potential future dilution contingent on achieving the respective Milestone C and D conditions, which were not detailed in this notice. Investors seeking specifics should consult the original performance rights grant disclosures.

Phased Performance Rights Structure Aligns Director Incentives with Company Milestones

King’s performance rights span four classes (A through D), reflecting a phased incentive scheme rewarding milestone achievement. This approach is common among smaller ASX-listed resource companies, linking equity compensation to operational or corporate objectives rather than solely time-based vesting.

The conversion of the initial two tranches suggests Haranga Resources has made progress toward its stated goals, though the company did not elaborate on the nature of these milestones in this notice.

No Securities Sold and Transaction Outside Closed Period

The director’s interest notice confirms Jeremy King did not dispose of any securities during this transaction. The increase in shares was solely through conversion of performance rights, with no sales or transfers involved. This indicates no immediate profit-taking following milestone achievement.

Additionally, the transaction occurred outside a closed trading period, meaning no prior board clearance was required. This aligns with governance standards for milestone-based performance rights conversions.

Updated Director Register Reflects Increased Direct Shareholding

Post-conversion, Jeremy King’s disclosed holdings include 2,211,500 fully paid ordinary shares, 1,117,500 Class C, and 1,341,000 Class D performance rights. There are no indirect interests or other registered holders reported. This update signals a shift from contingent equity instruments toward a more substantial direct shareholding.

Focus Shifts to Remaining Milestone Conditions for Class C and D Rights

With Milestones A and B satisfied, market attention will likely turn to the conditions governing the vesting of Class C and D performance rights, totaling 2,458,500 rights. These may relate to exploration results, resource definition, corporate transactions, or other operational targets. Achievement of these milestones could provide further insight into the company’s strategic progress.

Investors and analysts will monitor future company updates for disclosures on progress toward Milestone C and D. The referenced 30 June 2026 update may offer additional context, though no timeline for these milestones was provided in this notice.

Regulatory Disclosure and Timing of Appendix 3Y Filing

The Appendix 3Y is a regulatory requirement under ASX Listing Rule 3.19A.2, mandating disclosure of changes in directors’ relevant securities interests. This ensures transparency and allows market participants to track director shareholding changes promptly. Notices must be lodged as soon as practicable after the director becomes aware of the change.

Haranga Resources Limited (ABN 83 141 128 841) lodged this notice on behalf of Jeremy King under section 205G of the Corporations Act 2001. The immediate impact on the company’s share price was not evident from public information at the time of writing. Investors should consider this notice alongside the 30 June 2026 company update and other relevant disclosures from Haranga Resources during this period.