NoviQtech Directors Allow 8.7 Million Unlisted Options to Expire Unexercised, Disclosing Lapsed Securities

NoviQtech’s Director Shareholding and Ownership Structure

NoviQtech Limited, registered under ABN 626 295 314, maintains a director shareholding framework combining direct holdings and indirect interests via private companies and family trusts. Director Niv Dagan directly holds 842,608 fully paid ordinary shares and indirectly controls 75,220,136 shares through 10 Bolivianos Pty Ltd. Director Darren Scott’s interests are held indirectly through Scottkaiser Pty Ltd, the Scott-Kaiser Family Account trust, which held 5,231,033 fully paid ordinary shares prior to the option expiries. Both directors also hold listed options exercisable at $0.20 expiring 5 March 2028, indicating the expired unlisted options represent a partial portion of their derivative securities exposure. These layered holdings are typical of director-led companies employing family or trust investment vehicles.

Expiry of Niv Dagan’s 10 Bolivianos Unlisted Options

On 21 July 2026, 10 Bolivianos Pty Ltd, associated with director Niv Dagan, allowed 7,475,000 unlisted options exercisable at $0.10 to lapse without exercise. These options expired on their scheduled date with no consideration received, categorized as "expiry and lapse of options without exercise." Post-expiry, Niv Dagan’s direct shareholding remained at 842,608 shares, while 10 Bolivianos Pty Ltd retained 75,220,136 shares and 81,015,556 listed options at $0.20 expiring 5 March 2028. This suggests a strategic choice to forgo lower-strike options while maintaining significant derivative exposure at a higher strike price.

Darren Scott’s Scottkaiser Trust Option Expiry

Concurrently, Darren Scott’s Scottkaiser Pty Ltd allowed 1,250,000 unlisted options exercisable at $0.10 to expire unexercised on 21 July 2026. No consideration was received upon expiry. The trust’s shareholding remained stable at 5,231,033 shares, and it continues to hold 1,445,636 listed options exercisable at $0.20 expiring 5 March 2028. The parallel expiry of lower-priced unlisted options alongside retention of higher-priced listed options indicates these options may have been issued under similar incentive schemes at different times.

Regulatory Reporting and Disclosure Timing

This update fulfills disclosure obligations under ASX Listing Rule 3.19A.2 and Corporations Act section 205G, requiring timely reporting of director interest changes. Niv Dagan’s prior notice was dated 17 July 2026, and Darren Scott’s was 5 February 2026. The simultaneous expiry of unlisted options on 21 July 2026 triggered these disclosures. The regulatory framework mandates full details of security changes, including quantities, exercise prices, and expiry dates. Lapsed options are reported as "expiry and lapse of options without exercise" with nil consideration, ensuring transparency of director holdings. No immediate share price impact was evident from public data.

Exercise Prices and Market Considerations

Both directors’ entities held unlisted options exercisable at $0.10, notably lower than their listed options at $0.20 expiring in 2028. The decision to let the $0.10 options expire without exercise may reflect assessments of equity value, market conditions, or strategic capital allocation preferences. The existence of two option tranches with differing strike prices and expiry dates suggests separate grant programs or incentive arrangements at varying times. The company did not disclose original grant dates or vesting terms. Retaining higher-priced listed options while allowing lower-priced unlisted options to lapse may indicate confidence in future share appreciation or strategic equity management.

Post-Expiry Director Holdings

After expiry, Niv Dagan’s total interests include 842,608 direct shares, 75,220,136 shares, and 81,015,556 listed options at $0.20 held via 10 Bolivianos Pty Ltd, representing substantial equity exposure. Darren Scott retains 5,231,033 shares and 1,445,636 listed options at $0.20 through Scottkaiser Pty Ltd. Both directors’ listed options share identical exercise prices and expiry dates, suggesting coordinated equity incentive schemes. The company did not disclose whether these options are subject to performance conditions or immediate exercisability.

Contract Interests and Compliance Disclosures

The disclosures confirm no material changes to director contract interests under ASX Listing Rule 3.19A.2 Part 2, with "N/A" noted across contract fields. Neither director acquired, disposed of, or modified contract interests during the reporting period. Additionally, no securities trading occurred during restricted periods requiring prior clearance. The option expiries were automatic events, not director-initiated transactions, indicating compliance with trading and disclosure protocols.

Investor Insights and Director Equity Commitment

The unexercised expiry of unlisted options at $0.10 suggests directors did not find sufficient value to convert these options by 21 July 2026. Investors may interpret director equity decisions as confidence indicators. Retention of substantial listed options at $0.20 alongside direct shareholdings signals ongoing commitment to NoviQtech’s future. The combined director-related holdings constitute a significant stake. Future exercises of listed options before their 2028 expiry may further reveal director confidence in the company’s medium-term growth prospects.