EURO MANGANESE INC
ASX:EMNMaterialsToday’s holders own 59.2% of what they think they own, once every option and right converts.
Runway under 2 quarters; options/rights overhang 69% of shares; 1 cash raise in 24 months
EURO MANGANESE INC completed a share consolidation in April 2025 at a ratio of approximately 1-for-5. Its latest ordinary share count, from an ASX market reading as at February 2026, was 143M shares; the company has not lodged any new share-issuance (Appendix 2A) filings since January 2024, so a comparable earlier share count is not available from that filing series. In the past 24 months, it raised A$12.3M via a placement and Security Purchase Plan in April 2025. Options and rights on issue could convert into 98M new shares, representing a 68.8% overhang; none are in the money, and no expiry date for these securities is recorded. The company has under 2 quarters of funding at the recent spend rate.
Quick answers · 3
When did EMN last raise capital?
The last capital raise in Euro Manganese's filings is Placement, Security Purchase Plan of $12.3M announced 2 Apr 2025, one of 1 cash raises in 24 months.
How much placement capacity does EMN 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 many options and rights does EMN have outstanding?
Unexercised options and rights equal 68.8% of Euro Manganese's shares on issue.
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 |
|---|---|---|---|---|
| 6 July 2026 | 3H · cancellation | EMN : CHESS DEPOSITARY INTERESTS 1:1 | 42.9M | Appendix 3H |
| 19 Mar 2026 | 3H · cancellation | EMN : CHESS DEPOSITARY INTERESTS 1:1 | 43.2M | Appendix 3H |
| 10 Feb 2026 | 3G · unquoted | CHESS DEPOSITARY INTERESTS 1:1 | 44.1M | Appendix 3G |
| 28 Jan 2026 | 3H · cancellation | CHESS DEPOSITARY INTERESTS 1:1 | 45.5M | Appendix 3H |
| 1 July 2025 | 3H · cancellation | EMN : CHESS DEPOSITARY INTERESTS 1:1 | 61.8M | Appendix 3H |
Each filing states the count for the security it names, as at its own reference date and in the units of that filing — so the newest row (42.9M) need not equal the current count above (143.0M).
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 · 0 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
No option supply on record carries an exercise price to pay, so no share price switches any of it on. All 98.3M 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 |
|---|---|---|---|---|---|---|
| EMNAJ | Options | Price-triggered, no exercise price stated | — | — | 9.0M | Filing |
| EMNAL | Warrants | Price-triggered, no exercise price stated | — | — | 89.3M | 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.
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 1 June 2026 | David Dreisinger | Sell | 261k | 574k | 42k | — | 3Y notice |
| 28 May 2025 | David Dreisinger | Buy placement | 42k | 240k | 42k | — | 3Y notice |
| 28 May 2025 | John Webster | Buy placement | 56k | 400k | 56k | — | 3Y notice |
| 28 May 2025 | Ludivine Wouters | Buy placement | 56k | 200k | 56k | — | 3Y notice |
| 28 May 2025 | Tom Stepien | Buy placement | 61k | 240k | 56k | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.