MELBANA ENERGY LIMITED
ASX:MAYEnergyToday’s holders own 88.5% of what they think they own, once every option and right converts.
Runway under 2 quarters; 1 cash raise in 24 months; options/rights overhang 13% of shares
MELBANA ENERGY LIMITED's ordinary share count stood at 3.78B as of January 2026, showing no change since August 2025. In the past 24 months, the company undertook one capital raise, a A$7.0M placement in August 2025. Options and rights on issue could convert into 492M new shares, representing 13.0% of the current share count, with the nearest expiry in January 2027. As of the June 2026 quarter, the company reported A$-679K in available cash, covering approximately -0.5 quarters of its recent spending rate. 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 |
|---|---|---|---|---|
| 30 Apr 2026 | 3H · cancellation | MAY : ORDINARY FULLY PAID | 3.78B | Appendix 3H |
| 30 Apr 2026 | 3G · unquoted | ORDINARY FULLY PAID | 3.78B | Appendix 3G |
| 12 Jan 2026 | 2A · quoted issue | MAY : ORDINARY FULLY PAID | 3.78B | Appendix 2A |
| 1 Dec 2025 | 3H · cancellation | MAY : ORDINARY FULLY PAID | 3.78B | Appendix 3H |
| 27 Aug 2025 | 2A · quoted issue | MAY : ORDINARY FULLY PAID | 3.78B | Appendix 2A |
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 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-triggered436.8M · 11.5% of sharesOptions and warrants — they convert when the share price clears their exercise price.No exercise price is on record for any of it, so none of it can be called in or out of the money.
- Condition-triggered55.3M · 1.5% of sharesPerformance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.
Exercise price on record: 0 priced, 492.1M 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.
No option supply on record carries an exercise price to pay, so no share price switches any of it on. All 492.1M 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 |
|---|---|---|---|---|---|---|
| MAYOA | Options | Price-triggered | — | 12 Jan 2027 | 436.8M | Filing |
| MAYAA | Performance rights | Condition-triggered | — | — | 55.3M | Filing Meeting |
“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.
A condition-triggered class has no exercise price and usually no expiry: what it vests on is set by a shareholder resolution, not by the register. Where the company lodged a notice of meeting before the class first appears here, it is linked as “Meeting” — that is where terms of this kind are put to shareholders. It is not confirmation that the document sets this class’s conditions, and no link appears where there is no such filing.
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 30 Apr 2026 | Andrew Purcell | Other | 245.4M | — | 28.0M | — | 3Y notice |
| 2 Dec 2025 | Andrew Purcell | Buy placement | 4.3M | — | — | $73k | 3Y notice |
| 2 Dec 2025 | Michael John Sandy | Buy placement | 1.0M | — | — | $17k | 3Y notice |
| 2 Dec 2025 | Peter Stickland | Buy placement | 1.8M | — | — | $30k | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 12 Sept 2026.