THOR ENERGY PLC
ASX:THRMaterialsToday’s holders own 81.3% of what they think they own, once every option and right converts.
Share count grew 209% in 24 months; runway 4–8 quarters; options/rights overhang 23% of shares
THOR ENERGY PLC had 1.03B shares outstanding as of August 2025. In the past 24 months, the company conducted one capital raise, a placement in October 2024 that brought in A$2.0M. At the June 2026 quarter end, the company held A$3.7M in cash, which at its recent spending rate covers 7.4 quarters. Options on issue could potentially convert into 237M new shares, representing 23.0% of the current share count, with the nearest expiry in February 2027. No options are currently in the money. There are no proposed securities issues pending.
Shares on issue — last 2 years
Cash runway
Issuance timeline
Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)
| Date | Form | Security | On issue, per this filing | Source |
|---|---|---|---|---|
| 8 Sept 2026 | 3H · cancellation | THR : CHESS DEPOSITARY INTERESTS | 670.1M | Appendix 3H |
| 9 Dec 2025 | 3G · unquoted | CHESS DEPOSITARY INTERESTS | 702.2M | Appendix 3G |
| 24 Nov 2025 | 3H · cancellation | THR : CHESS DEPOSITARY INTERESTS 1:1 | 709.3M | Appendix 3H |
| 15 Aug 2025 | 3G · unquoted | THR : CHESS DEPOSITARY INTERESTS 1:1 | 733.0M | Appendix 3G |
| 1 Aug 2025 | 2A · quoted issue | THR : CHESS DEPOSITARY INTERESTS 1:1 | 720.8M | Appendix 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 (670.1M) need not equal the current count above (1.03B).
Capital raises
1 cash raise in the last 24 months · 0 in the last 12 months
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 allows 15% of ordinary securities in any 12 months, and every Appendix 3B states how much of it an issue uses.
Pending proposed issues
Options & convertible securities
- Price-triggered156.6M · 15.2% of sharesOptions and warrants — they convert when the share price clears their exercise price.At least 3.1M of it states no exercise price — that much cannot be called in or out of the money.
- Condition-triggered80.0M · 7.8% of sharesPerformance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.
Exercise price on record: 153.5M priced, 83.1M 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.
At $0.010 today, 0 securities are in the money (0.0% of shares on issue). No more priced supply until 3× today’s price, which takes it to 70.0M (6.8% 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.
- 83.1M (35.1% 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.
- 18.5M more carries an exercise price above ten times today’s — off the right of this axis, and in every total on this page.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| THRAC | Options | Price-triggered | $0.030 | 5 Feb 2027 | 15.0M | Filing |
| THRAZ | Options | Price-triggered | $0.026 | 27 June 2027 | 70.0M | Filing |
| THRAG | Options | Price-triggered | $0.030 | 27 June 2027 | 10.0M | Filing |
| THRAD | Options | Price-triggered | $0.050 | 5 Feb 2028 | 15.0M | Filing |
| THRAF | Options | Price-triggered | $0.030 | 27 June 2028 | 10.0M | Filing |
| THRAY | Options | Price-triggered | $0.30 | 3 Nov 2028 | 18.5M | Filing |
| THRAE | Options | Price-triggered | $0.070 | 5 Feb 2029 | 15.0M | Filing |
| THRAK | Options | Price-triggered | — | — | 3.1M | Filing |
| THRAB | Performance shares | Condition-triggered | — | — | 80.0M | 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.
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.
- THRAACondition-triggered1.0M securities → 08 Sept 2026 Appendix 2A
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 7 Sept 2026 | Alastair Clayton | Sell incentive | — | 3.8M | 24.5M | — | 3Y notice |
| 8 Dec 2025 | Andrew Hume | Other incentive | 30.0M | 45.0M | — | — | 3Y notice |
| 8 Dec 2025 | Lincoln Moore | Other incentive | 15.0M | — | — | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 12 Sept 2026.