L1 GLOBAL LONG SHORT FUND LIMITED
ASX:GLSFund / trustShare count grew 107% in 24 months; 2 cash raises in 24 months; proposed issue pending; since relisting as GLS; prior history under PMC not included
L1 GLOBAL LONG SHORT FUND LIMITED renamed from PMC in December 2025, and every figure below covers only the period since the rename. Between December 2025 and October 2026, its latest share-count filing, ordinary shares grew 107.0% to 606M shares. The company raised capital twice in that period, totalling A$1.0B, most recently with a A$565.4M accelerated non-renounceable entitlement offer in October 2026. As a financial vehicle, its operating cash flow is not a spend rate, so no funding-runway figure applies. Two proposed securities issues (Appendix 3B) are pending, with a nearest proposed date in October 2026.
Quick answers · 2
Why was GLS in a trading halt?
L1 Global Long Short Fund requested a trading halt on 6 Oct 2026, giving the reason "Pending announcement regarding outcome of institutional component of accelerated entitlement offer". Trading was expected to resume 8 Oct 2026.
Is GLS raising capital?
L1 Global Long Short Fund has 2 proposed issues of securities pending under Appendix 3B as at 28 Oct 2026; the most recent raise announced is Entitlement Offer (Accelerated Non-Renounceable Entitlement Offer) of $565.4M on 6 Oct 2026.
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 |
|---|---|---|---|---|
| 14 Oct 2026 | 2A · quoted issue | GLS : ORDINARY FULLY PAID | 605.9M | Appendix 2A |
| 13 Oct 2026 | 2A · quoted issue | GLS : ORDINARY FULLY PAID | 548.6M | Appendix 2A |
| 23 Sept 2026 | 2A · quoted issue | GLS : ORDINARY FULLY PAID | 548.5M | Appendix 2A |
| 2 Apr 2026 | 2A · quoted issue | GLS : ORDINARY FULLY PAID | 547.7M | Appendix 2A |
| 20 Mar 2026 | 2A · quoted issue | GLS : ORDINARY FULLY PAID | 547.6M | Appendix 2A |
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
2 cash raises in the last 24 months · 2 in the last 12 months · counted since relisting as GLS (1 Dec 2025); prior history under PMC is not included
Retail offer
An offer existing holders can take part in — the one structural advantage retail has in a raise. Dated recently and not yet recorded as complete.
Closing dates are not in the filings this site holds. Check the company's own announcement below before acting on this.
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
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 23 Sept 2026 | Katrina Glendinning | Buy DRP | 459 | — | — | — | 3Y notice |
| 20 Mar 2026 | Katrina Glendinning | Buy | 248 | — | — | — | 3Y notice |
| 27 Feb 2026 | Rachel Grimes AM | Buy on-market | 15k | — | — | $32k | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.