GLOBAL MASTERS FUND LIMITED

ASX:GFLFund / trust

11.3M shares on issueASX (delayed) · snapshot 28 Oct 202611.3M fully diluted+0.0% if every option and right converts$2.76price · delayed$30.8MMarket capAt the previous close. On a day the price moves, shares × today’s price will differ. Prices delayed.

Minimal

Dilution risk

No major dilution pressure signals in current disclosures

Absolute levels — not a ranking against other companies.

Cash runwayno data — a bank, lender, insurer, property or investment vehicle: operating cash flow is not a spend rate, so no funding runway applies

Share-count growth (24m)4.8%

Raise cadence (24m)0 cash raises

Options & rights overhang0.0% of shares

In-the-money supply0.0% of shares

Pending proposed issuesnone

GLOBAL MASTERS FUND LIMITED's ordinary share count increased 4.8% between January 2025 and January 2026, its latest share-count filing, to 11M shares. The company has not raised capital through any cash placement, rights issue or share purchase plan in that 24-month window. No proposed securities issues are currently pending. Because the company is a bank, lender, insurer, property or investment vehicle, whose operating cash flow is not a spend rate, no funding-runway figure applies. The share-count movement reflects minor net issuance relative to the total outstanding. No options or rights overhang is disclosed in the available filings.

AI-generated summary of this page's cited filings · updated 25 Oct 2026

Quick answers · 2

How much placement capacity does GFL 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 has GFL's share count grown?

Global Masters Fund has 11.3M shares on issue as at 28 Oct 2026, up 4.8% over 24 months according to its Appendix 2A filings.

Get told when this changes

Get GFL alerts

Free for up to 2 companies. A daily email when GFL raises money, files a new share issue, drops below 2 quarters of cash or moves risk level.

0.0%

Options & rights overhang

0.0%

In the moneyAn option whose exercise price is below the last closing share price, so converting it pays. These are the options most likely to become new shares soon. supply

Raises · last 12 months

—

Cash cover · no runway frame

Shares on issue — last 2 years

Ordinary shares on issue

Weekly counts from ASX records. Dots mark cash capital raises. Latest count 11.3M per ASX (delayed) (snapshot 28 Oct 2026).

Cash runway

No cash runway. This company is a bank, lender, insurer, property or investment vehicle: its operating cash flow is loans, deposits, inventory or portfolio purchases rather than a spend rate, so a funding runway does not apply.

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
13 Jan 2026	2A · quoted issue	GFL : ORDINARY FULLY PAID	11.3M	Appendix 2A
13 Nov 2025	2A · quoted issue	GFL : ORDINARY FULLY PAID	11.3M	Appendix 2A
3 Nov 2025	2A · quoted issue	GFL : ORDINARY FULLY PAID	11.3M	Appendix 2A
29 Oct 2025	2A · quoted issue	GFL : ORDINARY FULLY PAID	11.2M	Appendix 2A
27 Oct 2025	2A · quoted issue	GFL : ORDINARY FULLY PAID	11.2M	Appendix 2A

Free account

21 filings on record — Full issuance history

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

Free account: 2 full company unlocks every month, no card.

Unlock GFL free See plans

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.

Free account

Securities on issue, by class

How the share count and each option and rights class moved, month by month, with every number in a table.

Free account: 2 full company unlocks every month, no card.

Unlock GFL free See plans

Capital raises

No equity raises in the last 24 months.

Free account

Full raise history

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

Free account: 2 full company unlocks every month, no card.

Unlock GFL free See plans

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.

Free account

Forward supply calendar

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

Free account: 2 full company unlocks every month, no card.

Unlock GFL free See plans

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.

No Appendix 3B in the last 12 months reports an issue under the 15% placement capacity (as at 2026-10-28).

Free account

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.

Free account: 2 full company unlocks every month, no card.

Unlock GFL free See plans

Pending proposed issues

No proposed issues (Appendix 3B) currently pending.

Options & convertible securities

No options or rights over unissued shares on record.

Also on issue: convertible debt

These are debt. Each count is the filing’s own count of notes or units, not a share count, and how many shares they would become depends on terms we don’t hold in full (face value, interest, the conversion formula). So they are left out of the options overhang, the in-the-money supply and the parts of the risk score built on them. Placement capacity is different: the listing rules count a note issue at the most shares it can become.