Companies / SMN

STRUCTURAL MONITORING SYSTEMS PLC

ASX:SMNTechnology Hardware & Equipment
155.6M shares on issueASX (delayed) · snapshot 11 Sept 2026180.5M fully diluted+16.0% if every option and right converts$0.39price · delayed$60.7Mmarket cap · indicative

Today’s holders own 86.2% of what they think they own, once every option and right converts.

Low
Dilution risk

Options/rights overhang 16% of shares; share count grew 13% in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runwaycash-generative (no net burn)
Share-count growth (24m)13.3%
Raise cadence (24m)0 cash raises
Options & rights overhang16.0% of shares
In-the-money supplyno data — an exercise price is on record for a minority of the supply
Pending proposed issuesnone

STRUCTURAL MONITORING SYSTEMS PLC's ordinary share count grew 13.3% between June 2024 and January 2026, reaching 156M shares. The company has not raised capital in the past 24 months. Options and rights on issue could convert into 25M new shares, representing 16.0% of the current share count, with no options currently in the money; the nearest expiry is November 2027. As of the March 2026 quarter, STRUCTURAL MONITORING SYSTEMS PLC reported A$7.2M in available cash. The company reported non-negative net cash flow for the latest quarter, meaning no funding-runway figure applies. No proposed securities issues are pending.

AI-generated summary of this page's cited filings · updated 7 Sept 2026
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16.0%
Options & rights overhang
—
In-the-money supply · most strikes not on record
0
Raises · last 12 months
No net burn
Cash cover · cash-generative

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 155.6M per ASX (delayed) (snapshot 11 Sept 2026).
147.5M150.0M152.5M155.0MDec 24Oct 25Sept 26155.6M

Cash runway

—
The latest quarterly report shows no net cash burn, so there is no cash-out date.
$7.3M cash after burn from the quarter ended 31 Mar 2026 · Runway is computed from Appendix 4C/5B filings and announced raise proceeds. Filed with the quarterly report: $4.7M cash at quarter end (item 4.6). Our figure above carries the filed quarter-end balance forward at the reported spend rate and adds announced raise proceeds.
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13 quarters on record — Cash runway history
Quarterly cash, net spend and cover trend from every Appendix 4C/5B on record up to 31 Mar 2026.
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Issuance timeline

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

DateFormSecurityOn issue, per this filingSource
30 Jan 20262A · quoted issueSMN : CHESS DEPOSITARY INTERESTS 1:1155.6MAppendix 2A
15 Dec 20253H · cancellationSMN : CHESS DEPOSITARY INTERESTS 1:1154.4MAppendix 3H
9 May 20252A · quoted issueSMN : CHESS DEPOSITARY INTERESTS 1:1154.4MAppendix 2A
13 Mar 20252A · quoted issueSMN : CHESS DEPOSITARY INTERESTS 1:1154.3MAppendix 2A
5 Mar 20252A · quoted issueSMN : CHESS DEPOSITARY INTERESTS 1:1154.3MAppendix 2A
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20 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

No equity raises in the last 24 months.
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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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2 dated events on record — 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

16.0%
Options & rights overhang · of current shares
—
In-the-money supply · most strikes not on record
24.9M
Potential new shares
Nov 2027
Nearest expiry
What a price move would switch on
12.5M24.9M$0.39 now0.25× today ($0.10) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.20) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.29) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.39) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.49) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.58) — 0 of the priced supply in the money, 0.0% of shares on issue2× today ($0.78) — 585k of the priced supply in the money, 0.4% of shares on issue3× today ($1.17) — 585k of the priced supply in the money, 0.4% of shares on issue5× today ($1.95) — 585k of the priced supply in the money, 0.4% of shares on issue10× today ($3.90) — 585k of the priced supply in the money, 0.4% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

An exercise price is on record for only 2.3% of this supply, so what is in the money today is not a measurement — the tile above reads “—” for that reason. Of the priced supply, 0 is in the money at $0.39 today. At double today’s price it is 585k (0.4% of shares).

  • Priced supply in the money at the price on the axis — the curve, and the only thing on it. Ten prices, sampled: between two of them the true figure lies between the two.
  • 24.3M (97.7% of the supply above) states no exercise price at all. It cannot be called in or out of the money at any price, which is why it is hatched rather than plotted.
CodeSecurityTypeExercise priceExpiryOn issueSource
SMNOAOptionsPrice-triggered—30 Nov 202724.3MFiling
SMNAROptionsPrice-triggered$0.6918 Dec 2027585kFiling

“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.

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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
8 July 2026Mr Heinrich LoechtekenOther off-market561k240k—$207k3Y notice
15 June 2026Mr Heinrich LoechtekenBuy on-market126k240k—$52k3Y notice
27 May 2026Mr Heinrich LoechtekenBuy on-market268k——$110k3Y notice
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13 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

30 Aug 2026$PAppendix 4E & Preliminary Final Report
30 July 2026$PJune 2026 Quarterly Activities Report
9 July 2026Change of Director's Interest Notice
19 June 2026Change of Director's Interest Notice
4 June 2026Change of Director's Interest Notice
26 May 2026Change of Director's Interest Notice
14 May 2026Change of Director's Interest Notice
28 Apr 2026Investor Webinar & Teleconference Presentation
23 Apr 2026$PQuarterly Activities Report & Appendix 4C
21 Apr 2026March 2026 Quarterly Investor Webinar and Conference Call
13 Mar 2026$PResolution of Court Proceedings
26 Feb 2026$PHalf Year Report & Appendix 4D
16 Feb 2026AEM launches new special-mission radio for global customers
30 Jan 2026Cleansing Notice
30 Jan 2026Application for quotation of securities - SMN
22 Jan 2026$PQuarterly Activities Report & Appendix 4C
23 Dec 2025Results of Annual General Meeting
23 Dec 2025Initial Director's Interest Notice
23 Dec 2025Final Director's Interest Notice
22 Dec 2025Appointment of Neville Bassett AM as Non-Executive Chairman

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