NATIONAL AUSTRALIA BANK LIMITED
ASX:NABBanksToday’s holders own 99.9% of what they think they own, once every option and right converts.
No major dilution pressure signals in current disclosures
NATIONAL AUSTRALIA BANK LIMITED's ordinary share count increased 1.1% between August 2024 and September 2026, its latest share-count filing, to 3.12B shares. The company recorded no capital raisings of any type in the 24-month window. Options and rights on issue could convert into 3M new shares, equal to 0.1% of the current share count; none of these securities are in the money, and no filing on record states an expiry date for them. As a bank, the company's operating cash flow is not measured as a spend rate, so no funding-runway figure applies. No proposed securities issues are currently pending.
Quick answers · 3
How much placement capacity does NAB 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 NAB have outstanding?
Unexercised options and rights equal 0.1% of National Australia Bank's shares on issue.
How much has NAB's share count grown?
National Australia Bank has 3.12B shares on issue as at 28 Oct 2026, up 1.1% 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 Sept 2026 | 2A · quoted issue | NAB : ORDINARY FULLY PAID | 3.12B | Appendix 2A |
| 28 Aug 2026 | 2A · quoted issue | NAB : ORDINARY FULLY PAID | 3.12B | Appendix 2A |
| 1 July 2026 | 2A · quoted issue | NAB : ORDINARY FULLY PAID | 3.12B | Appendix 2A |
| 29 June 2026 | 2A · quoted issue | NAB : ORDINARY FULLY PAID | 3.07B | Appendix 2A |
| 29 June 2026 | 3G · unquoted | NAB : ORDINARY FULLY PAID | 3.07B | Appendix 3G |
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
No option supply on record carries an exercise price to pay, so no share price switches any of it on. All 3.1M 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 |
|---|---|---|---|---|---|---|
| NABAM | Performance rights | Condition-triggered | — | — | 3.1M | 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. 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 |
|---|---|---|---|---|---|---|---|
| 17 June 2026 | Ann Caroline SHERRY | Other | 13k | — | 2k | $150k | 3Y notice |
| 5 Mar 2026 | Philip Wayne CHRONICAN | Buy | 752 | — | — | $36k | 3Y notice |
| 24 Feb 2026 | Andrew Francis IRVINE | Sell on-market | — | — | — | $1.9M | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.