ST BARBARA LIMITED
ASX:SBMMaterialsToday’s holders own 93.5% of what they think they own, once every option and right converts.
Share count grew 50% in 24 months; 2 cash raises in 24 months; options/rights overhang 7% of shares
ST BARBARA LIMITED's ordinary share count grew 49.8% between August 2024 and August 2026, its latest share-count filing, to 1.23B shares. The company raised capital twice in the past 24 months for total proceeds of A$158.5M, most recently a A$58.0M placement in October 2025. Options and rights on issue could convert into 86M new shares, representing a 7.0% overhang of current shares; none are in the money, and no expiry date for these securities is recorded in filings. The company has more than 4 quarters of funding at the recent spend rate. No proposed securities issues are currently pending.
Quick answers · 4
When did SBM last raise capital?
The last capital raise in St Barbara's filings is Placement of $58.0M announced 7 Oct 2025, one of 2 cash raises in 24 months.
How much placement capacity does SBM 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 SBM have outstanding?
Unexercised options and rights equal 7% of St Barbara's shares on issue.
How much has SBM's share count grown?
St Barbara has 1.23B shares on issue as at 28 Oct 2026, up 49.8% 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 |
|---|---|---|---|---|
| 28 Aug 2026 | 2A · quoted issue | SBM : ORDINARY FULLY PAID | 1.23B | Appendix 2A |
| 28 Aug 2026 | 3H · cancellation | SBM : ORDINARY FULLY PAID | 1.21B | Appendix 3H |
| 10 July 2026 | 3H · cancellation | SBM : ORDINARY FULLY PAID | 1.21B | Appendix 3H |
| 9 Apr 2026 | 3H · cancellation | SBM : ORDINARY FULLY PAID | 1.21B | Appendix 3H |
| 8 Apr 2026 | 3H · cancellation | SBM : ORDINARY FULLY PAID | 1.21B | Appendix 3H |
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
2 cash raises in the last 24 months · 0 in the last 12 months
Results due
What the company's own reports say is coming, and when. A month is one the report names; “by end of year” is a deadline such as “Q4”. See every explorer on the results calendar.
- by end 2026 · Feasibility Study completion (to complete)
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 85.7M 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 |
|---|---|---|---|---|---|---|
| SBMAK | Performance rights | Condition-triggered | — | — | 85.7M | 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 |
|---|---|---|---|---|---|---|---|
| 28 Aug 2026 | Mr Andrew Michael Strelein | Other | 3.2M | 18.0M | — | — | 3Y notice |
| 11 Dec 2025 | Mr Andrew Michael Strelein | Other incentive | 1.8M | 2.6M | — | — | 3Y notice |
| 21 Aug 2025 | Mr Andrew Michael Strelein | Buy incentive | 33k | — | — | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.