BWP GROUP

ASX:BWPEquity Real Estate Investment Trusts (REITs)

785.4M shares on issueASX (delayed) · snapshot 11 Sept 2026785.7M fully diluted+0.0% if every option and right converts$3.56price · delayed$2.80Bmarket cap · indicative

Low

Dilution risk

2 cash raises in 24 months; share count grew 10% in 24 months

Absolute levels — not a ranking against other companies.

Cash runwayno data — not a quarterly (4C/5B) cash filer

Share-count growth (24m)10.1%

Raise cadence (24m)2 cash raises

Options & rights overhang0.0% of shares

In-the-money supplyno data — no exercise price on record

Pending proposed issuesnone

BWP GROUP's ordinary share count grew 10.1% between June 2024 and August 2026, reaching 785M shares. In the past 24 months, the company conducted two capital raises totalling A$455.5M, with the most recent being an A$227.7M Accelerated Non-Renounceable Entitlement Offer in May 2026. There are 261,296 potential new shares from options, representing 0.0% of the current share count, with no options in the money. An expiry date for these securities is not on record. The company does not have a current quarterly cash report or runway figure on record. No proposed securities issues are pending.

AI-generated summary of this page's cited filings · updated 1 Sept 2026

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0.0%

Options & rights overhang

—

In-the-money supply · no stated strikes

Raises · last 12 months

—

Cash cover · not a quarterly filer

Shares on issue — last 2 years

Ordinary shares on issue

Weekly counts from ASX records. Dots mark cash capital raises. Latest count 785.4M per ASX (delayed) (snapshot 11 Sept 2026).

Cash runway

Not a quarterly cash filer. This company does not lodge Appendix 4C/5B quarterly cash reports, so cash runway does not apply.

Issuance timeline

Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

Date	Form	Security	On issue, per this filing	Source
27 Aug 2026	2A · quoted issue	BWP : FULLY PAID ORDINARY/UNITS STAPLED SECURITIES	785.4M	Appendix 2A
27 May 2026	2A · quoted issue	BWP : FULLY PAID ORDINARY/UNITS STAPLED SECURITIES	785.1M	Appendix 2A
15 May 2026	2A · quoted issue	BWP : FULLY PAID ORDINARY/UNITS STAPLED SECURITIES	758.2M	Appendix 2A
14 May 2026	2A · quoted issue	BWP : FULLY PAID ORDINARY/UNITS STAPLED SECURITIES	757.3M	Appendix 2A
25 Mar 2026	2A · quoted issue	BWP : FULLY PAID ORDINARY/UNITS STAPLED SECURITIES	724.7M	Appendix 2A

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29 filings on record — Full issuance history

Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).

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Capital raises

2 cash raises in the last 24 months · 2 in the last 12 months

$227.7M

Accelerated Non-Renounceable Entitlement Offer (ANREO)

5 May 2026

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3 raises on record — Full raise history

Issue price, shares issued, brokers and stated purpose for every raise on record.

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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.

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Forward supply calendar

Option expiries and proposed issues on one forward timeline, with the securities each could add.

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Placement capacity

How much stock a company can place without asking holders. Listing Rule 7.1 allows 15% of ordinary securities in any 12 months, and every Appendix 3B states how much of it an issue uses.

No Appendix 3B in the last 12 months reports an issue under the 15% placement capacity (as at 2026-09-12).

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Placement capacity — LR 7.1 / 7.1A

The filings behind the figure: every Appendix 3B in the window with what it says was issued under 7.1 and 7.1A, each row linked to its filing, and how many shares are left.

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Pending proposed issues

No proposed issues (Appendix 3B) currently pending.

Options & convertible securities

0.0%

Options & rights overhang · of current shares

—

In-the-money supply · no stated strikes

261k

Potential new shares

—

Nearest expiry

What a price move would switch on

No option supply on record carries an exercise price to pay, so no share price switches any of it on. All 261k 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
BWPAA	Rights	Condition-triggered	—	—	261k	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.

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1 option line on record — In-the-money value & price ladder

What each line is worth in the money today, the price ladder to the next tranche that converts, and the filing description behind every code.

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Director dealings

Date	Director	Type	Shares	Options	Other	Value	Source
30 June 2026	Alison Quinn	Buy on-market	16k	—	—	—	3Y notice
29 May 2026	Alison Quinn	Other entitlement/SPP	1k	—	—	—	3Y notice
29 May 2026	Danielle Carter	Other entitlement/SPP	2k	—	—	—	3Y notice
29 May 2026	Fiona Elizabeth Harris	Other entitlement/SPP	2k	—	—	—	3Y notice