Revolver Resources Holdings Issues 427,042 New Shares via Convertible Note Conversion

Details of Convertible Note Conversion and Equity Base Expansion

Revolver Resources Holdings converted 2 convertible notes (RRRAU) into 427,042 ordinary fully paid shares (RRR) on 20 July 2026, coinciding with the ASX quotation application. This conversion is a typical capital management action where convertible security holders exercise their rights to receive ordinary shares. The issued shares were priced at AUD $0.05850000 each and rank equally with existing shares, granting holders identical rights, dividends, and voting entitlements from the issue date.

This transaction reflects a routine equity conversion within the company's capital structure, enhancing the issued share capital without creating a new class of securities.

Issued Share Capital Composition After Quotation

Following the quotation of the new shares, Revolver Resources Holdings' total quoted ordinary share capital will be 313,022,679 shares under ASX code RRR. This increase supplements the existing share base and aligns with the company's ongoing capital management strategies. The ASX system automatically updates these figures, which may not always reflect concurrent securities applications.

In addition to quoted shares, the company holds a substantial number of unquoted securities, including approximately 99.98 million options across eight classes with expiry dates from September 2026 to May 2027 and exercise prices ranging from AUD $0.10 to AUD $0.20. There are also 48,976,668 unquoted performance rights and 114 outstanding convertible notes, indicating a complex equity financing and incentive structure.

Overview of Unquoted Options and Performance Rights

The largest unquoted option class is RRRAT, with 51,333,333 options expiring on 30 September 2028 at an exercise price of AUD $0.13. The second-largest is RRRAJ, comprising 23,698,000 options expiring 21 September 2026 at AUD $0.20. Other option classes include RRRAS (3,650,000 options expiring 13 September 2029 at AUD $0.10), RRRAN (1,000,000 options expiring 17 May 2027 at AUD $0.20), RRRAQ (3,000,000 options expiring 25 October 2026 at AUD $0.20), RRRAR (9,000,000 options expiring 10 November 2026 at AUD $0.20), and RRRAI (8,400,000 options expiring 21 September 2026 at AUD $0.20).

Performance rights total 48,976,668 (code RRRAK) with no specified expiry, typically linked to employee or management incentive plans that convert to ordinary shares upon meeting performance criteria. This layered incentive framework aligns stakeholder interests across various timelines and performance targets.

Conversion Timing and Regulatory Filings

The convertible notes conversion and ASX quotation application were both completed on 20 July 2026, facilitating efficient listing of the new shares. The company’s disclosure confirms this conversion was not part of an employee incentive scheme but rather a capital raising or financing mechanism. The conversion involved existing securities classes, converting two convertible notes into 427,042 ordinary shares without creating new equity categories.

Share Pricing and Valuation Details

The 427,042 shares were issued at AUD $0.05850000 each, reflecting the terms agreed upon with convertible note holders at issuance. The conversion was settled in Australian dollars for cash consideration, indicating an exchange of convertible notes for equity. The relatively high conversion ratio per note suggests the notes carried significant value compared to the per-share price, providing transparency on dilution and valuation for investors.

Company Security Codes and ASX Listing Information

Revolver Resources Holdings trades under the ASX code RRR for its ordinary shares and is registered with ASIC under ACN 651974980. Ordinary shares confer equal voting rights and dividend entitlements. The ASX listing ensures regulatory compliance, market transparency, and capital market access. Unique ASX codes exist for the company’s unquoted options and performance rights, facilitating clear identification and tracking of securities by investors and regulators.

Options Expiry Schedule and Exercise Price Overview

The options portfolio includes near-term expiries such as RRRAI and RRRAJ options expiring on 21 September 2026, totaling approximately 32.1 million options at AUD $0.20 exercise price. Other near-term expiries include RRRAQ (25 October 2026), RRRAR (10 November 2026), and RRRAN (17 May 2027), all at AUD $0.20. The longest-dated options are RRRAT expiring 30 September 2028 at AUD $0.13, and RRRAS expiring 13 September 2029 at AUD $0.10, the lowest exercise price in the portfolio. Variations in exercise prices and expiry dates reflect different issuance periods and financing arrangements.

Potential Dilution Impact and Capital Structure Considerations

The extensive unquoted options and performance rights portfolio could significantly dilute existing shareholders if fully exercised or converted. The 99.98 million options and nearly 49 million performance rights could raise the total quoted shares well above the current 313 million. Options with lower exercise prices, such as RRRAS at AUD $0.10, are more likely to be exercised if the share price exceeds these levels. Near-term expiries in late 2026 will test option holder exercise decisions, impacting dilution and potential cash inflows.

Future Capital Management and Investor Considerations

Investors should monitor Revolver Resources Holdings’ management of its complex capital structure, especially regarding option exercises and performance rights vesting. Maintaining or increasing the share price above key exercise prices will influence the likelihood of option exercises and capital inflows. The recent convertible note conversion to 427,042 shares represents a modest equity increase relative to the overall share base, indicating a small financing component. Future conversions and exercises are expected, making ongoing capital structure updates critical for investment decisions.