Companies / NGI

NAVIGATOR GLOBAL INVESTMENTS LIMITED

ASX:NGIFinancial Services
610.2M shares on issueASX (delayed) · snapshot 11 Sept 2026612.6M fully diluted+0.4% if every option and right converts$2.26price · delayed$1.38Bmarket cap · indicative

Today’s holders own 99.6% of what they think they own, once every option and right converts.

Low
Dilution risk

Share count grew 24% in 24 months; 1 cash raise in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runwayno data — not a quarterly (4C/5B) cash filer
Share-count growth (24m)24.5%
Raise cadence (24m)1 cash raise
Options & rights overhang0.4% of shares
In-the-money supplyno data — no exercise price on record
Pending proposed issuesnone

NAVIGATOR GLOBAL INVESTMENTS LIMITED's ordinary share count grew 24.5% between September 2024 and July 2026, reaching 610M shares. The company conducted one capital raise in the past 24 months, a A$145.0M Accelerated non-renounceable Entitlement Offer (ANREO) and Placement (Vendor scrip consideration) in May 2026. Options and rights on issue could convert into 2M new shares, representing 0.4% of the current share count. No filing on record states an expiry date for these securities, and 0% are in the money. The company has not lodged a current quarterly cash report, so no funding-runway figure is on record. No proposed securities issues are pending.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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0.4%
Options & rights overhang
—
In-the-money supply · no stated strikes
1
Raises · last 12 months
—
Cash cover · not a quarterly filer

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 610.2M per ASX (delayed) (snapshot 11 Sept 2026).
500M550M600MDec 24Oct 25Sept 26Cash raise · 1 May 2026610.2M

Cash runway

Not a quarterly cash filer. This company does not lodge Appendix 4C/5B quarterly cash reports, so cash runway does not apply.

Issuance timeline

Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

DateFormSecurityOn issue, per this filingSource
2 July 20262A · quoted issueNGI : FPO-U.S. INVESTOR PROHIBITED EXCEPT QPS610.2MAppendix 2A
1 June 20262A · quoted issueNGI : FPO-U.S. INVESTOR PROHIBITED EXCEPT QPS551.5MAppendix 2A
10 May 20262A · quoted issueNGI : FPO-U.S. INVESTOR PROHIBITED EXCEPT QPS547.0MAppendix 2A
27 Nov 20253H · cancellationNGI : FPO-U.S. INVESTOR PROHIBITED EXCEPT QPS491.1MAppendix 3H
25 Nov 20252A · quoted issueNGI : FPO-U.S. INVESTOR PROHIBITED EXCEPT QPS491.1MAppendix 2A
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9 filings on record — Full issuance history
Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).
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Capital raises

1 cash raise in the last 24 months · 1 in the last 12 months

$145.0M
Accelerated non-renounceable Entitlement Offer (ANREO) and Placement (Vendor scrip consideration)
1 May 2026 COMPLETE
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1 raise on record — Full raise history
Issue price, shares issued, brokers and stated purpose for every raise on record.
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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.

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Forward supply calendar
Option expiries and proposed issues on one forward timeline, with the securities each could add.
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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.

About 21% of the 15% placement capacity left — about 79% used by Appendix 3B filings in the last 12 months (estimate, as at 2026-09-12). Holder-approved issues and any later ratification are not deducted, so the true headroom can be higher.
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Placement capacity — LR 7.1 / 7.1A
The filings behind the figure: every Appendix 3B in the window with what it says was issued under 7.1 and 7.1A, each row linked to its filing, and how many shares are left.
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Pending proposed issues

No proposed issues (Appendix 3B) currently pending.

Options & convertible securities

0.4%
Options & rights overhang · of current shares
—
In-the-money supply · no stated strikes
2.4M
Potential new shares
—
Nearest expiry
What this supply is, and what converts it
  • Condition-triggered2.3M · 0.4% of shares
    Performance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.
  • Converts on terms90k · 0.0% of shares
    Convertibles with no exercise price — they convert on their own terms, so they are shares in all but name.

Exercise price on record: 0 priced, 2.4M 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.

What a price move would switch on

No option supply on record carries an exercise price to pay, so no share price switches any of it on. All 2.4M of it converts on something else — a hurdle that may never be met, or terms the filing does not price.

CodeSecurityTypeExercise priceExpiryOn issueSource
NGIAANotesConverts on terms——90kFiling
NGIABPerformance rightsCondition-triggered——2.3MFiling 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.

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2 option lines on record — In-the-money value & price ladder
What each line is worth in the money today, the price ladder to the next tranche that converts, and the filing description behind every code.
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Director dealings

DateDirectorTypeSharesOptionsOtherValueSource
1 Sept 2026Roger Andrew DavisBuy on-market40k——$101k3Y notice
2 June 2026Roger Andrew DavisBuy6k——$15k3Y notice
2 June 2026Stephen Jon DarkeBuy entitlement/SPP31k———3Y notice
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12 notices on record — Full dealing history
Every change-of-director's-interest notice on record, with direction and consideration.
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Ownership

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Top-20 holders & substantial holder notices
Top-20 register snapshot and substantial-holder movements, each linked to its source notice.
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Latest announcements

2 Sept 20262026 Annual General Meeting Details
2 Sept 2026Change of Director's Interest Notice
23 Aug 20262026 Corporate Governance Statement
23 Aug 20262026 Appendix 4G
23 Aug 2026$P2026 Annual Results Presentation
23 Aug 2026$P2026 Annual Results Announcement
23 Aug 20262026 Sustainability Report
23 Aug 2026$P2026 Appendix 4E and Annual Report
13 Aug 2026Release of Shares from Voluntary Escrow
30 July 20262026 Annual Results Briefing Details
15 July 2026$PJune 2026 AUM Update
3 July 2026Becoming a substantial holder
3 July 2026Change in substantial holding
3 July 2026Becoming a substantial holder
2 July 2026Placement Cleansing Notice
2 July 2026Application for quotation of securities - NGI
2 July 2026$PCompletion of Transaction
24 June 2026Ceasing to be a substantial holder
9 June 2026Change in substantial holding
5 June 2026Correction to Change of Director's Interest Notice

Headlines link to the source PDFs on the ASX announcements platform. Data as of 12 Sept 2026.