MITCHELL SERVICES LIMITED
ASX:MSVMaterialsToday’s holders own 96.1% of what they think they own, once every option and right converts.
No major dilution pressure signals in current disclosures
MITCHELL SERVICES LIMITED's ordinary share count was 212M as of June 2026, down 0.7% from July 2024. The company has not raised capital through a placement, rights issue or share purchase plan in the past 24 months. Options and rights on issue could convert into 9M new shares, representing 4.1% of the current share count, with no in-the-money component and no expiry date on record for these securities. The latest cash report, a half-year/annual report for the period ended June 2026, shows non-negative net cash flow, so no funding-runway figure applies. No proposed securities issues are pending.
Quick answers · 3
How much placement capacity does MSV 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 many options and rights does MSV have outstanding?
Unexercised options and rights equal 4.1% of Mitchell Services's shares on issue.
How much has MSV's share count grown?
Mitchell Services has 212.5M shares on issue as at 28 Oct 2026, down 0.7% over 24 months according to its Appendix 2A filings.
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 |
|---|---|---|---|---|
| 1 July 2026 | 3H · cancellation | MSV : ORDINARY FULLY PAID | 212.0M | Appendix 3H |
| 30 June 2026 | 3G · unquoted | ORDINARY FULLY PAID | 212.0M | Appendix 3G |
| 30 June 2026 | 2A · quoted issue | MSV : ORDINARY FULLY PAID | 212.5M | Appendix 2A |
| 25 June 2025 | 3H · cancellation | MSV : ORDINARY FULLY PAID | 211.5M | Appendix 3H |
| 25 June 2025 | 2A · quoted issue | MSV : ORDINARY FULLY PAID | 212.8M | 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 (212.0M) need not equal the current count above (212.5M).
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
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
- Price-triggered8.2M · 3.9% 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-triggered488k · 0.2% 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, 8.7M 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 8.7M 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 |
|---|---|---|---|---|---|---|
| MSVAA | Performance rights | Condition-triggered | — | — | 488k | Filing Meeting |
| MSVAK | Options | Price-triggered, no exercise price stated | — | — | 8.2M | 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.
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 |
|---|---|---|---|---|---|---|---|
| 11 Sept 2026 | Nathan Andrew Mitchell | Buy on-market | 500k | — | — | $260k | 3Y notice |
| 27 Feb 2026 | Scott Tumbridge | Sell on-market | — | — | — | $237k | 3Y notice |
| 26 Feb 2026 | Scott Tumbridge | Sell on-market | — | — | — | $304k | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.