AVA RISK GROUP LIMITED
ASX:AVATechnology Hardware & EquipmentToday’s holders own 85.3% of what they think they own, once every option and right converts.
Options/rights overhang 17% of shares; 1 cash raise in 24 months
AVA RISK GROUP LIMITED's ordinary share count stood at 291M as of January 2026, a 0.3% increase from its first available filing in September 2024. The company raised capital once in that period, a A$7.0M convertible note issue in December 2025. Options and rights on issue could convert into 50M new shares, representing a 17.2% overhang on the current share count, none of which are in the money. No expiry date for these securities is on record. The company has no current quarterly or half‑year/annual cash report on record from which a funding‑runway figure can be derived, and no proposed securities issues are pending.
Quick answers · 3
When did AVA last raise capital?
The last capital raise in AVA Risk Group's filings is Convertible Notes of $7.0M announced 31 Dec 2025, one of 1 cash raises in 24 months.
How many options and rights does AVA have outstanding?
Unexercised options and rights equal 17.2% of AVA Risk Group's shares on issue.
How much has AVA's share count grown?
AVA Risk Group has 291.1M shares on issue as at 28 Oct 2026, up 0.3% over 24 months according to its Appendix 2A filings.
Shares on issue — last 2 years
Cash runway
Issuance timeline
Latest 5 filings (Appendix 2AThe form a company lodges to have new securities quoted on the ASX. It restates how many of each class are on issue. quoted issues, 3G unquoted, 3H cancellations)
| Date | Form | Security | On issue, per this filing | Source |
|---|---|---|---|---|
| 20 Oct 2026 | 3G · unquoted | AVA : ORDINARY FULLY PAID | 291.1M | Appendix 3G |
| 15 Oct 2026 | 3G · unquoted | AVA : ORDINARY FULLY PAID | 291.1M | Appendix 3G |
| 28 Sept 2026 | 3H · cancellation | ORDINARY FULLY PAID | 291.1M | Appendix 3H |
| 10 Apr 2026 | 3G · unquoted | AVA : ORDINARY FULLY PAID | 291.1M | Appendix 3G |
| 8 Apr 2026 | 3G · unquoted | AVA : ORDINARY FULLY PAID | 291.1M | Appendix 3G |
Securities on issue over time
Ordinary shares and every option and rights class, month by month over two years. The top edge is the fully diluted count.
Capital raises
1 cash raise in the last 24 months · 1 in the last 12 months
Forward supply
Every dated event on record that could add securities to the register — option expiries to their stated dates and proposed issues over the next 18 months, on one timeline.
Placement capacity
How much stock a company can place without asking holders. Listing Rule 7.1 / 7.1ARule 7.1 lets a company issue up to 15% of its shares in 12 months without a shareholder vote. Rule 7.1A adds 10% for smaller companies whose holders approve it. allows 15% of ordinary securities in any 12 months, and every Appendix 3BNotice that a company proposes to issue new securities, such as a placement. The securities are not on issue until a later filing confirms it. states how much of it an issue uses.
Pending proposed issues
Options & convertible securities
- Price-triggered45.4M · 15.6% of sharesOptions and warrants — they convert when the share price clears their exercise price.No exercise price is on record for any of it, so none of it can be called in or out of the money.
- Condition-triggered4.8M · 1.7% of sharesPerformance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.
Exercise price on record: 0 priced, 50.2M where the filing never states one. A security with no exercise price is never counted in the money — nothing is paid to convert it, so there is no price for it to be above.
Each figure is the filing’s own count of securities, not a share count — a 2A never states what one security converts into.
No option supply on record carries an exercise price to pay, so no share price switches any of it on. All 50.2M of it converts on something else — a hurdle that may never be met, or terms the filing does not price.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| AVAAE | Performance shares | Condition-triggered | — | — | 4.8M | Filing Meeting |
| AVAAC | Warrants | Price-triggered, no exercise price stated | — | — | 45.4M | Filing |
“Nil” is a stated nil exercise price: nothing is paid to convert. An em dash means the filing names no exercise price at all. Security is read from the filing’s own class description; an em dash there means the description is not one this table labels. One row is one security class, at the number stated in the most recent quotation application that restated it — linked, and dated, in the last column. For what expires soon across other listed companies, see the options expiry calendar.
A condition-triggered class has no exercise price and usually no expiry: what it vests on is set by a shareholder resolution, not by the register. Where the company lodged a notice of meeting before the class first appears here, it is linked as “Meeting” — that is where terms of this kind are put to shareholders. It is not confirmation that the document sets this class’s conditions, and no link appears where there is no such filing.
- AVAADconvertible notes7.0M20 Oct 2026 Appendix 2A
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 28 Nov 2025 | Mark Stevens | Buy on-market | 101k | — | — | $7k | 3Y notice |
| 8 Aug 2025 | David Lachlan Cronin | Sell incentive | — | — | 200k | — | 3Y notice |
| 8 Aug 2025 | Malcolm Maginnis | Sell incentive | 677k | — | 2.8M | — | 3Y notice |
| 8 Aug 2025 | Mark Stevens | Sell incentive | 1.7M | — | 200k | — | 3Y notice |
| 8 Aug 2025 | Michael McGeever | Sell incentive | 5.8M | — | 200k | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.