Vertex Minerals Updates Director Option Expiry Date in Corrected ASX Filing

Correction to Director Interest Filings

On 21 July 2026, Vertex Minerals Limited announced corrected Appendix 3Y notices addressing a typographical error in director interest disclosures originally lodged on 5 June 2026. The error concerned the expiry date of VTXO listed options with an exercise price of $0.15, initially reported as 7 July 2027. The accurate expiry date is 17 July 2027, reflecting a ten-day adjustment in compliance with ASX Listing Rule 3.19A.2.

Following this correction, Director Tully Richards holds 177,334 VTXO listed options exercisable at $0.15. The company confirmed these corrected notices received formal approval from Mr Richards prior to ASX lodgement, ensuring the public register accurately reflects director securities and complies with continuous disclosure obligations.

Director Share Purchase Activity in 2025

The corrected filings reveal two transactions involving Tully Richards during 2025, both conducted through Central West Scientific Pty Ltd, a related entity. On 16 October 2025, Mr Richards acquired 47,618 VTXOA listed options at an exercise price of $0.25 expiring on 17 July 2026 via Vertex Minerals' share purchase plan announced on 12 May 2025. This acquisition was made on a nil-value consideration basis as part of the structured plan for eligible participants.

After this transaction, Mr Richards' VTXOA option holdings increased from 108,334 to 155,952 units. Prior to this, he held 1,561,524 ordinary shares, 177,334 VTXO listed options, and 3,060,000 unlisted performance rights. The share purchase plan enabled directors to participate in capital raising on terms consistent with broader shareholder opportunities.

Performance Rights Lapse and Director Entitlement Adjustments

On 11 December 2025, 60,000 unlisted performance rights held by Tully Richards lapsed unexercised, reducing his total unlisted performance rights from 3,060,000 to 3,000,000 units. This lapse occurred automatically as the rights reached the end of their vesting or exercise period without consideration payable.

Unlisted performance rights serve as long-term incentives aligning directors' interests with company performance. The lapse is a routine event when performance conditions are unmet or vesting periods expire. This transaction did not affect Mr Richards' ordinary shares or listed options holdings, which remained stable at year-end 2025.

Overview of Vertex Minerals’ Operations and Market Context

Vertex Minerals Limited is an ASX-listed minerals exploration company focused on developing mineral assets and exploration activities. The executive leadership team includes Executive Chairman Bruce McInnes, Executive Director Roger Jackson, and Executive Director Operations Jim Simpson. The company’s business model relies on identifying and developing economically viable mineral deposits, requiring sustained capital investment and regulatory approvals across jurisdictions.

As a listed exploration entity, Vertex Minerals adheres to continuous disclosure obligations, promptly reporting changes in director shareholdings, options, and performance rights. These disclosures provide transparency regarding alignment between directors and shareholders and indicate management confidence. The July 2026 correction underscores the company’s commitment to accurate regulatory filings and robust director interest disclosure processes.

ASX Listing Rules and Director Interest Reporting

The corrected notices comply with ASX Listing Rule 3.19A.2 and section 205G of the Corporations Act, mandating directors and related parties to notify the exchange of changes in relevant securities interests. These rules require timely submission of notices to the ASX, which maintains and publishes the information for public access.

Director interest notices must detail the nature of interests, whether direct or indirect, securities held before and after transactions, security class, transaction dates, and consideration involved. For options, exercise prices and expiry dates must be specified. The July 2026 correction pertained solely to the expiry date of one option class and did not alter the substantive director interests or security quantities.

Ensuring Administrative Accuracy and Disclosure Compliance

The identification and rectification of the typographical error demonstrate Vertex Minerals’ internal compliance and dedication to accurate ASX disclosures. While minor, such errors can cause confusion among investors relying on precise information about director holdings and potential conflicts of interest. The company’s prompt correction within six weeks of initial lodgement reflects strong compliance responsiveness.

Corrected filings are common practice across listed companies to uphold the integrity of the ASX’s public director interest register. Publishing the correction on 21 July 2026 ensured all market participants received accurate information simultaneously. Investors seeking further details can contact the company at +61 2 7229 4849 or [email protected].

Director Shareholding and Incentive Framework

The corrected disclosures highlight Tully Richards’ significant financial stake in Vertex Minerals, combining ordinary shares, listed options at different exercise prices and expiry dates, and unlisted performance rights. This layered compensation approach is typical in exploration and mining sectors, aligning long-term director interests with shareholder value amid lengthy project development timelines. Participation in the May 2025 share purchase plan further signals confidence in the company’s strategy.

The differing exercise prices of VTXO ($0.15) and VTXOA ($0.25) options suggest grants under separate frameworks or timeframes. The remaining 3,000,000 unlisted performance rights are subject to performance or vesting conditions influencing future treatment.

Investor Considerations Post-Correction

Investors should monitor upcoming director interest disclosures to observe material changes in shareholdings or options by company officers, which can provide insight into management’s confidence and strategic outlook. Significant shifts in director holdings may indicate evolving sentiment about company prospects. The company’s leadership and contact details facilitate direct investor inquiries regarding governance or operations.

The correction’s immediate impact on share price was unclear, as administrative disclosure updates typically do not affect market valuation. However, maintaining accuracy in continuous disclosure is vital for investor trust in governance and administrative standards. Upcoming milestones include the next director interest disclosures and any material announcements on exploration programs or project developments.