Companies / SND

SAUNDERS INTERNATIONAL LIMITED

ASX:SNDCapital Goods
140.8M shares on issueASX (delayed) · snapshot 11 Sept 2026145.6M fully diluted+3.4% if every option and right converts$0.84price · delayed$118.3Mmarket cap · indicative

Today’s holders own 96.7% 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 runwayno data — not a quarterly (4C/5B) cash filer
Share-count growth (24m)19.2%measured to the latest Appendix 2A, not to the share count above
Raise cadence (24m)1 cash raise
Options & rights overhang3.4% of shares
In-the-money supplyno data — no exercise price on record
Pending proposed issuesnone

SAUNDERS INTERNATIONAL LIMITED had 141M ordinary shares on issue as of August 2026. The company raised capital once in the past 24 months, a A$5.0M placement in October 2025 to fund an acquisition. Options and rights on issue could convert into 5M new shares, representing 3.4% of the current share count, with none currently in the money. No expiry date for these securities has been filed. The company has not lodged a current quarterly cash report, so no funding runway figure is available. No proposed securities issues are pending.

AI-generated summary of this page's cited filings · updated 1 Sept 2026
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3.4%
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 140.8M per ASX (delayed) (snapshot 11 Sept 2026).
120M130M140MDec 24Oct 25Sept 26Cash raise · 15 Oct 2025140.8M

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
21 Aug 20262A · quoted issueSND : ORDINARY FULLY PAID139.8MAppendix 2A
10 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
6 Nov 20253G · unquotedORDINARY FULLY PAID134.7MAppendix 3G

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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22 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

$5.0M
Placement (to fund acquisition)
15 Oct 2025 ACTIVE
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3 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.

About 53% of the 15% placement capacity left — about 47% 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

3.4%
Options & rights overhang · of current shares
In-the-money supply · no stated strikes
4.8M
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-triggered4.3M · 3.1% 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, 4.3M 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 4.3M converts on something else — a hurdle that may never be met, or terms the filing does not price.

CodeSecurityTypeExercise priceExpiryOn issueSource
SNDAAOptionsPrice-triggeredNil495kFiling
SNDABPerformance rightsCondition-triggered4.3MFiling 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
28 Nov 2025Angelo De AngelisOther incentive377k3Y notice
28 Nov 2025Mark BensonOther incentive318k3Y 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 12 Sept 2026.