H3 ENERGY LIMITED
ASX:H3EEnergyToday’s holders own 67.8% of what they think they own, once every option and right converts.
Share count grew 56% in 24 months; options/rights overhang 48% of shares; runway 4–8 quarters; since relisting as H3E; prior history under WBE not included
H3 ENERGY LIMITED, which began trading under this name in December 2025, had an ordinary share count that grew 56.0% between April 2026 and August 2026, to 1.34B shares. In the 24-month window, the company completed two capital raises totalling A$4.3M, most recently a A$3.5M placement in April 2026. Options and rights on issue could convert into 637M new shares, representing 47.5% of the current share count, with no options currently in the money; the nearest expiry is January 2027. As of the June 2026 quarter, the company reported A$2.4M in available cash, sufficient for approximately 4.5 quarters of operations based on recent spending. No proposed securities issues are currently pending.
Shares on issue — last 2 years
Cash runway
Issuance timeline
Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)
| Date | Form | Security | On issue, per this filing | Source |
|---|---|---|---|---|
| 10 Aug 2026 | 3G · unquoted | H3E : ORDINARY FULLY PAID | 1.33B | Appendix 3G |
| 7 Aug 2026 | 2A · quoted issue | H3E : ORDINARY FULLY PAID | 1.34B | Appendix 2A |
| 20 July 2026 | 2A · quoted issue | H3E : ORDINARY FULLY PAID | 1.33B | Appendix 2A |
| 9 June 2026 | 2A · quoted issue | H3E : ORDINARY FULLY PAID | 1.08B | Appendix 2A |
| 7 May 2026 | 2A · quoted issue | H3E : ORDINARY FULLY PAID | 871.5M | Appendix 2A |
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 (1.33B) need not equal the current count above (1.34B).
Capital raises
2 cash raises in the last 24 months · 2 in the last 12 months · counted since relisting as H3E (15 Dec 2025); prior history under WBE is not included
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 allows 15% of ordinary securities in any 12 months, and every Appendix 3B states how much of it an issue uses.
Pending proposed issues
Options & convertible securities
- Price-triggered637.1M · 47.5% of sharesOptions and warrants — they convert when the share price clears their exercise price.At least 355.5M of it states no exercise price — that much cannot be called in or out of the money.
- Converts on terms125k · 0.0% of sharesConvertibles with no exercise price — they convert on their own terms, so they are shares in all but name.
Exercise price on record: 281.6M priced, 355.6M 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.
An exercise price is on record for only 44.2% of this supply, so what is in the money today is not a measurement — the tile above reads “—” for that reason. Of the priced supply, 0 is in the money at $0.006 today. At double today’s price it is 49.0M (3.7% 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.
- 355.6M (55.8% 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 |
|---|---|---|---|---|---|---|
| H3EAN | Options | Price-triggered | $0.030 | 1 Jan 2027 | 84.6M | Filing |
| H3EAO | Options | Price-triggered | $0.030 | 28 Mar 2027 | 45.0M | Filing |
| H3EO | Options | Price-triggered | — | 15 May 2027 | 275.5M | Filing |
| H3EAT | Options | Price-triggered | $0.010 | 31 Dec 2028 | 49.0M | Filing |
| H3EAQ | Options | Price-triggered | $0.050 | 31 Mar 2030 | 103.0M | Filing |
| H3EAM | Notes | Converts on terms | — | — | 125k | Filing |
| — | Options | Price-triggered | — | — | 80.0M | 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.
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 28 July 2026 | Mark Lindh | Other off-market | 14.9M | — | — | — | 3Y notice |
| 29 June 2026 | Mark Lindh | Other off-market | 15.3M | 19.5M | — | — | 3Y notice |
| 4 May 2026 | Giustino Guglielmo | Other | 7.5M | — | — | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 12 Sept 2026.