Companies / PPM

PEPPER MONEY LIMITED

ASX:PPMFinancial Services
449.4M shares on issueASX (delayed) · snapshot 11 Sept 2026472.2M fully diluted+5.1% if every option and right converts$1.76price · delayed$790.9Mmarket cap · indicative

Today’s holders own 95.2% of what they think they own, once every option and right converts.

Low
Dilution risk

7 cash raises in 24 months; options/rights overhang 5% of shares; proposed issue pending

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runwayno data — not a quarterly (4C/5B) cash filer
Share-count growth (24m)1.8%
Raise cadence (24m)7 cash raises
Options & rights overhang5.1% of shares
In-the-money supplyno data — no exercise price on record
Pending proposed issuesopen proposed issue (Appendix 3B)

PEPPER MONEY LIMITED's ordinary share count was 449M as of August 2026, up 1.8% since May 2024. In the past 24 months, the company completed 7 capital raises totaling A$3.7M, with the most recent being an Employee Share Plan in August 2026. Options and rights on issue could convert into 23M new shares, representing 5.1% of the current share count; however, no filing on record states an expiry date for these securities, and none are currently in the money. The company does not have a current quarterly cash report, so no cash balance or funding runway figure is disclosed on that basis. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 1 Sept 2026
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5.1%
Options & rights overhang
In-the-money supply · no stated strikes
3
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 449.4M per ASX (delayed) (snapshot 11 Sept 2026).
440M445M450MDec 24Oct 25Sept 26Cash raise · 31 Aug 2026Cash raise · 9 Mar 2026Cash raise · 11 Nov 2025Cash raise · 8 Sept 2025Cash raise · 14 May 2025Cash raise · 12 Mar 2025Cash raise · 11 Mar 2025449.4M

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
31 Aug 20262A · quoted issuePPM : ORDINARY FULLY PAID449.4MAppendix 2A
31 Aug 20262A · quoted issuePPM : ORDINARY FULLY PAID449.3MAppendix 2A
19 Aug 20263G · unquotedPPM : ORDINARY FULLY PAID449.3MAppendix 3G
10 June 20262A · quoted issuePPM : ORDINARY FULLY PAID449.3MAppendix 2A
9 Mar 20263G · unquotedORDINARY FULLY PAID444.5MAppendix 3G
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48 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

7 cash raises in the last 24 months · 3 in the last 12 months

every 2.9 monthsaverage gap between raises
0.4 monthssince the most recent
11 Mar 202531 Aug 2026first to most recent in this window
Employee Share Plan
31 Aug 2026 ACTIVE
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11 raises 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.

No Appendix 3B in the last 12 months reports an issue under the 15% placement capacity (as at 2026-09-12).
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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

5.1%
Options & rights overhang · of current shares
In-the-money supply · no stated strikes
22.8M
Potential new shares
Nearest expiry
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 22.8M of it converts on something else — a hurdle that may never be met, or terms the filing does not price.

CodeSecurityTypeExercise priceExpiryOn issueSource
PPMADRightsCondition-triggered702kFiling Meeting
PPMAERightsCondition-triggered2.2MFiling Meeting
PPMABRightsCondition-triggered5.7MFiling Meeting
PPMAARightsCondition-triggered14.2MFiling 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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4 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
19 Aug 2026Mario RehayemOther1.9M3Y notice
9 Mar 2026Mario RehayemBuy937k3Y notice
20 Feb 2026Mario RehayemOther incentive937k3Y notice
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6 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

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