Companies / SND

SAUNDERS INTERNATIONAL LIMITED

ASX:SNDCapital Goods
140.8M shares on issueASX (delayed) · snapshot 28 Oct 2026147.1M fully diluted+4.5% if every option and right converts$0.77price · delayed$107.0MMarket capAt the previous close. On a day the price moves, shares × today’s price will differ. Prices delayed.

Today’s holders own 95.7% of what they think they own, once every option and right converts.

Low
Dilution risk

Share count grew 19% in 24 months; 1 cash raise in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway12+ quarters of funding
Share-count growth (24m)18.8%measured to the latest Appendix 2A, not to the share count above
Raise cadence (24m)1 cash raise
Options & rights overhang4.5% of shares
In-the-money supplyno data — no exercise price on record
Pending proposed issuesnone

SAUNDERS INTERNATIONAL LIMITED had 141M ordinary shares as at August 2026, based on the ASX market reading; the filed Appendix 2A series ends earlier, so a share-count change over that period is not stated. One capital raise occurred in the past 24 months, a placement (to fund acquisition) in July 2025 raising A$5.0M. Options and rights on issue could convert into 6M new shares, representing 4.5% of current ordinary shares, with none in the money; no expiry date is on file for these securities. The company has more than 4 quarters of funding at the recent spend rate. No proposed securities issues are pending.

AI-generated summary of this page's cited filings · updated 23 Oct 2026
Quick answers · 3

When did SND last raise capital?

The last capital raise in Saunders International's filings is Placement (to fund acquisition) of $5.0M announced 15 July 2025, one of 1 cash raises in 24 months.

How much placement capacity does SND have left?

About 55% of the 15% placement capacity left, about 45% used in 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 SND have outstanding?

Unexercised options and rights equal 4.5% of Saunders International's shares on issue.

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4.5%
Options & rights overhang
—
In the moneyAn option whose exercise price is below the last closing share price, so converting it pays. These are the options most likely to become new shares soon. supply · no stated strikes
0
Raises · last 12 months
12+ qtrs
Cash cover · over 4 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 140.8M per ASX (delayed) (snapshot 28 Oct 2026).
120M130M140MDec 24Nov 25Oct 26Cash raise · 15 July 2025140.8M

Cash runway

12+ qtrs OURS
More than four quarters of funding at the recent spend rate.
More than three years of funding at the reported spend rate — far enough out that a dated estimate would be false precision.
$29.2M cash after burn · operating cash flow only.
FILED $29.8M cash · year ended 30 June 2026
OURS our estimate, carried to todayOURSOur estimate for today. We take the cash in the company’s latest cash report, deduct spending since at its reported rate, and, for quarterly filers, add raises announced after it. It moves daily; announced money may not all be received yet.$29.8M cash at 30 Jun 2026 − $0.6M spent ($419k a quarter × 120 days) = $29.2M left → 12+ qtrsFILED as the company reportedFILEDAs the company stated it in its latest cash report. Dated to the end of that period, it does not change until the next report.
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1 cash report on record — Cash runway history
Cash, net spend and cover trend from every Appendix 4C/5B and 4D/4E on record up to 30 June 2026.
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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)

DateFormSecurityOn issue, per this filingSource
23 Oct 20263G · unquotedSND : ORDINARY FULLY PAID139.8MAppendix 3G
21 Aug 20262A · quoted issueSND : ORDINARY FULLY PAID139.8MAppendix 2A
11 Dec 20252A · quoted issueSND : ORDINARY FULLY PAID139.6MAppendix 2A
28 Nov 20253G · unquotedSND : ORDINARY FULLY PAID139.4MAppendix 3G
25 Nov 20252A · quoted issueSND : ORDINARY FULLY PAID139.4MAppendix 2A

Each filing states the count for the security it names, as at its own reference date and in the units of that filing — so the newest row (139.8M) need not equal the current count above (140.8M).

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23 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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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.

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Securities on issue, by class
How the share count and each option and rights class moved, month by month, with every number in a table.
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Capital raises

1 cash raise in the last 24 months · 0 in the last 12 months

$5.0M
Placement (to fund acquisition)
At 65.0c, 13.3% below the last close
15 July 2025 ACTIVE
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3 issues (incl. 1 exercise or conversion) 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 / 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.

About 55% of the 15% placement capacity left — about 45% used by Appendix 3B filings in the last 12 months (estimate, as at 2026-10-28). Holders passed a ratification we could not match to exactly one filing, or whose number of shares the result does not state, and shares issued with holder approval are not added to the base, so the true headroom may 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

4.5%
Options & rights overhang · of current shares
—
In-the-money supply · no stated strikes
6.3M
Potential new shares
—
Nearest expiry
What this supply is, and what converts it
  • Price-triggered495k · 0.4% of shares
    Options and warrants — they convert when the share price clears their exercise price.
  • Condition-triggered5.8M · 4.1% of shares
    Performance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.

Exercise price on record: 0 priced, 495k at a stated nil price, 5.8M 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. 495k of it states a NIL exercise price — nothing is paid to convert that, so it converts at any price. The other 5.8M converts on something else — a hurdle that may never be met, or terms the filing does not price.

CodeSecurityTypeExercise priceExpiryOn issueSource
SNDAAOptionsPrice-triggeredNil—495kFiling
SNDABPerformance rightsCondition-triggered——5.8MFiling 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.

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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
28 Nov 2025Angelo De AngelisOther incentive——377k—3Y notice
28 Nov 2025Mark BensonOther incentive——318k—3Y notice
7 Oct 2025Andrew BellamyBuy on-market38k——$31k3Y notice
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4 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 28 Oct 2026.