CRITICA LIMITED
ASX:CRIMaterialsToday’s holders own 85.1% of what they think they own, once every option and right converts.
Runway under 2 quarters; options/rights overhang 18% of shares; share count grew 13% in 24 months
CRITICA LIMITED's ordinary share count grew 12.7% between January 2025 and April 2026, its latest share-count filing, to 3.03B shares. In the past 24 months, the company raised capital once, an A$8.0M placement in November 2025, for total disclosed proceeds of A$8.0M. Options and rights on issue could convert into 529M new shares, equal to 17.5% of the current share count, with none in the money at the current share price; the nearest expiry is November 2027. The company has under 2 quarters of funding at the recent spend rate. No proposed securities issues (Appendix 3B) are pending.
Quick answers · 6
Why was CRI in a trading halt?
Critica requested a trading halt on 28 Sept 2026, giving the reason "Pending the release of an announcement regarding the results of the Mt Lindsay Scoping Study". Trading was expected to resume 30 Sept 2026.
When did CRI last raise capital?
The last capital raise in Critica's filings is Placement of $8.0M announced 17 Nov 2025, one of 1 cash raises in 24 months.
How much placement capacity does CRI have left?
None of the 15% placement capacity counted as used in the last 12 months (estimate). Under ASX Listing Rule 7.1 a company may place up to 15% of its shares in 12 months without shareholder approval.
How much cash does CRI have?
In its quarterly cash report for the quarter ended 30 June 2026, Critica reported $5.3M of cash and estimated 2.2 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do CRI's options expire?
Unexercised options and rights equal 17.5% of Critica's shares on issue; the nearest expiry is Nov 2027.
How much has CRI's share count grown?
Critica has 3.03B shares on issue as at 28 Oct 2026, up 12.7% 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 |
|---|---|---|---|---|
| 25 June 2026 | 3H · cancellation | CRI : ORDINARY FULLY PAID | 3.03B | Appendix 3H |
| 1 Apr 2026 | 2A · quoted issue | CRI : ORDINARY FULLY PAID | 3.03B | Appendix 2A |
| 22 Jan 2026 | 2A · quoted issue | CRI : ORDINARY FULLY PAID | 3.02B | Appendix 2A |
| 22 Jan 2026 | 3G · unquoted | CRI : ORDINARY FULLY PAID | 2.91B | Appendix 3G |
| 18 Dec 2025 | 3G · unquoted | CRI : ORDINARY FULLY PAID | 2.91B | 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-triggered525.3M · 17.3% of sharesOptions and warrants — they convert when the share price clears their exercise price.At least 3.5M of it states no exercise price — that much cannot be called in or out of the money.
- Condition-triggered3.7M · 0.1% 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: 307.7M priced, 214.1M at a stated nil price, 7.2M 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.
At $0.019 today, 0 securities are in the money (0.0% of shares on issue). No more priced supply until 3× today’s price, which takes it to 307.7M (10.2% of shares).
- 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.
- 214.1M (40.5% of the supply above) states a nil exercise price — nothing is paid to convert it, so no share price switches it on or off. It is the flat band, and it is not part of the in-the-money figure.
- 7.2M (1.4% of the supply above) states no exercise price at all. It cannot be called in or out of the money at any price, which is why it is hatched rather than plotted.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| CRIAF | Options | Price-triggered | $0.043 | 21 Nov 2027 | 203.1M | Filing |
| CRIAW | Options | Price-triggered | Nil | 23 Dec 2027 | 10.8M | Filing |
| CRIAI | Options | Price-triggered | $0.043 | 22 Jan 2028 | 104.6M | Filing |
| CRIAC | Options | Price-triggered | Nil | 20 Feb 2029 | 10.0M | Filing |
| CRIAD | Options | Price-triggered | Nil | 3 May 2029 | 45.0M | Filing |
| CRIAE | Options | Price-triggered | Nil | 26 Aug 2029 | 30.0M | Filing |
| CRIAV | Options | Price-triggered | Nil | 23 Dec 2029 | 43.3M | Filing |
| CRIAB | Options | Price-triggered | Nil | 25 July 2030 | 25.0M | Filing |
| CRIAG | Options | Price-triggered | Nil | 19 Dec 2030 | 50.0M | Filing |
| CRIAO | Options | Price-triggered, no exercise price stated | — | — | 3.5M | Filing |
| CRIAH | Rights | Condition-triggered | — | — | 3.7M | Filing Meeting |
“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.
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 7 Apr 2026 | Timothy Gordon Armstrong Lindley | Buy on-market | 1.8M | — | — | $42k | 3Y notice |
| 22 Jan 2026 | Jamie Anthony Byrde | Buy placement | 769k | 769k | — | $20k | 3Y notice |
| 22 Jan 2026 | Nicholas Luigi Cernotta | Buy placement | 3.8M | 3.8M | — | $100k | 3Y notice |
| 22 Jan 2026 | Timothy Gordon Armstrong Lindley | Buy placement | 7.7M | 7.7M | 3.7M | $200k | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.