Companies / COG

COG FINANCIAL SERVICES LIMITED

ASX:COGFinancial Services
213.3M shares on issueASX (delayed) · snapshot 11 Sept 2026218.3M fully diluted+2.3% if every option and right converts$1.67price · delayed$356.2Mmarket cap · indicative

Today’s holders own 97.7% of what they think they own, once every option and right converts.

Low
Dilution risk

Share count grew 9% in 24 months; 1 cash raise in 24 months; 2% of shares in the money

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runwayno data — not a quarterly (4C/5B) cash filer
Share-count growth (24m)8.9%
Raise cadence (24m)1 cash raise
Options & rights overhang2.3% of shares
In-the-money supply2.3% of shares
Pending proposed issuesnone

COG FINANCIAL SERVICES LIMITED's ordinary share count grew 8.9% between July 2024 and March 2026, reaching 213M shares. In the past 24 months, the company raised capital once, a A$20.0M placement in October 2025. Options and rights on issue could convert into 5M new shares, representing 2.3% of the current share count, of which 2% are in the money at the current share price. The nearest expiry for these options is March 2028. COG FINANCIAL SERVICES LIMITED does not lodge quarterly cash reports, so no current funding-runway figure is available.

AI-generated summary of this page's cited filings · updated 29 Aug 2026
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2.3%
Options & rights overhang
2.3%
In-the-money supply
1
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 213.3M per ASX (delayed) (snapshot 11 Sept 2026).
200M205M210MDec 24Oct 25Sept 26Cash raise · 8 Oct 2025213.3M

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)

DateFormSecurityOn issue, per this filingSource
25 Mar 20262A · quoted issueCOG : ORDINARY FULLY PAID213.3MAppendix 2A
16 Oct 20252A · quoted issueCOG : ORDINARY FULLY PAID211.9MAppendix 2A
17 Sept 20253H · cancellationCOG : ORDINARY FULLY PAID201.8MAppendix 3H
17 Sept 20252A · quoted issueCOG : ORDINARY FULLY PAID201.9MAppendix 2A
25 July 20253G · unquotedCOG : ORDINARY FULLY PAID201.8MAppendix 3G
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13 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

1 cash raise in the last 24 months · 1 in the last 12 months

$20.0M
Placement
8 Oct 2025
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1 raise 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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1 dated event on record — 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.

About 67% of the 15% placement capacity left — about 33% used by Appendix 3B filings in the last 12 months (estimate, as at 2026-09-12). Holder-approved issues and any later ratification are not deducted, so the true headroom can be higher.
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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

2.3%
Options & rights overhang · of current shares
2.3%
In-the-money supply · at current price
5.0M
Potential new shares
Mar 2028
Nearest expiry
What a price move would switch on
2.5M5.0M$1.67 now0.25× today ($0.42) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.83) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($1.25) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($1.67) — 5.0M of the priced supply in the money, 2.3% of shares on issue1.25× today ($2.09) — 5.0M of the priced supply in the money, 2.3% of shares on issue1.5× today ($2.50) — 5.0M of the priced supply in the money, 2.3% of shares on issue2× today ($3.34) — 5.0M of the priced supply in the money, 2.3% of shares on issue3× today ($5.01) — 5.0M of the priced supply in the money, 2.3% of shares on issue5× today ($8.35) — 5.0M of the priced supply in the money, 2.3% of shares on issue10× today ($16.70) — 5.0M of the priced supply in the money, 2.3% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $1.67 today, 5.0M securities are in the money (2.3% of shares on issue). No price up to ten times today’s switches on any more priced supply.

  • Priced supply in the money at the price on the axis — the curve, and the only thing on it. Ten prices, sampled: between two of them the true figure lies between the two.
CodeSecurityTypeExercise priceExpiryOn issueSource
COGACOptionsPrice-triggered$1.3031 Mar 20285.0MFiling

“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

DateDirectorTypeSharesOptionsOtherValueSource
3 Sept 2026Cameron McCullaghSell on-market———$5.1M3Y notice
26 Aug 2026Cameron McCullaghSell off-market———$7.5M3Y notice
5 Sept 2025Cameron McCullaghSell on-market————3Y notice
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10 notices on record — Full dealing history
Every change-of-director's-interest notice on record, with direction and consideration.
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Ownership

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Top-20 holders & substantial holder notices
Top-20 register snapshot and substantial-holder movements, each linked to its source notice.
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Latest announcements

4 Sept 2026Change of Director's Interest Notice - CMC
3 Sept 2026Change in substantial holding
2 Sept 2026Becoming a substantial holder
27 Aug 2026Change of Director's Interest Notice - CMC
27 Aug 2026Ceasing to be a substantial holder - GEGM
25 Aug 2026$PFY2026 Results Presentation
25 Aug 2026$P30 June 2026 Results
25 Aug 2026Dividend/Distribution - COG
25 Aug 2026Appendix 4G and Corporate Governance Statement
25 Aug 2026$PAppendix 4E, Audited Financial Statements and Annual Report
24 Aug 2026Webinar Details - FY26 Financial Results
24 June 2026Change in substantial holding
7 May 2026Electric Car Discount Laws Proposed amendments announced
28 Apr 2026Change in substantial holding from WAM/WMI/WAX
6 Apr 2026Change in substantial holding
26 Mar 2026Details of Company Address
25 Mar 2026Cleansing Notice under Section 708A(5)(e) of Corps Act
25 Mar 2026Application for quotation of securities - COG
4 Mar 2026Change in substantial holding
25 Feb 2026$P1H2026 Results Presentation

Headlines link to the source PDFs on the ASX announcements platform. Data as of 12 Sept 2026.