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's ordinary share count grew 56% between April 2026 and August 2026, its latest share-count filing, to 1.34B shares. The company's share-count and capital-raising figures cover only the period since its rename from WBE in December 2025, with no prior data included. It raised capital twice in the 24-month window for total disclosed proceeds of A$4.3M, most recently a A$3.5M placement in April 2026. Options and rights on issue could convert into 637M new shares, equal to 47.5% of the current share count, with none in the money; the nearest expiry falls in January 2027. The company has more than 4 quarters of funding at the recent spend rate. No proposed securities issues are pending.
Quick answers · 3
When did H3E last raise capital?
The last capital raise in H3 Energy's filings is Placement of $3.5M announced 30 Apr 2026, one of 2 cash raises in 24 months.
How much cash does H3E have?
In its quarterly cash report for the quarter ended 30 June 2026, H3 Energy reported $900k of cash and estimated 1.7 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do H3E's options expire?
Unexercised options and rights equal 47.5% of H3 Energy's shares on issue; the nearest expiry is Jan 2027.
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 |
|---|---|---|---|---|
| 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).
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 · 1 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 / 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
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 $0.004 today. No more priced supply until 3× today’s price, which takes it to 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.
- 355.5M (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.
- 103.0M more carries an exercise price above ten times today’s — off the right of this axis, and in every total on this page.
| 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, no exercise price stated | — | 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 |
| — | Options | Price-triggered, no exercise price stated | — | — | 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. For what expires soon across other listed companies, see the options expiry calendar.
- H3EAMconvertible notes125k10 Aug 2026 Appendix 2A
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 28 Oct 2026.