Companies / VNL

VINYL GROUP LTD

ASX:VNLSoftware & Services
1.48B shares on issueASX (delayed) · snapshot 11 Sept 20261.59B fully diluted+7.5% if every option and right converts$0.042price · delayed$62.3Mmarket cap · indicative

Today’s holders own 93.0% of what they think they own, once every option and right converts.

Very high
Dilution risk

Runway under 2 quarters; share count grew 47% in 24 months; 5 cash raises in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway-0.7 quarters of funding
Share-count growth (24m)46.8%
Raise cadence (24m)5 cash raises
Options & rights overhang7.5% of shares
In-the-money supply2.2% of shares
Pending proposed issuesnone

VINYL GROUP LTD's ordinary share count grew 46.8% between July 2024 and June 2026, reaching 1.48 billion shares. In the past 24 months, the company completed five capital raises totalling A$11.5M, with the most recent being a A$2.4M placement in June 2026. Options and rights on issue represent potential new shares totalling 111M, or 7.5% of the current share count, with 2% in the money; the nearest expiry date is January 2027. As of June 2026, the company reported negative available cash of A$7.7M, covering -0.7 quarters at its recent spending rate. No proposed securities issues are pending.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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7.5%
Options & rights overhang
2.2%
In-the-money supply
1
Raises · last 12 months
-0.7 qtrs
Cash cover · under 2 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 1.48B per ASX (delayed) (snapshot 11 Sept 2026).
1.2B1.3B1.4B1.5BDec 24Oct 25Sept 26Cash raise · 8 June 2026Cash raise · 5 May 2025Cash raise · 28 Feb 2025Cash raise · 11 Feb 2025Cash raise · 16 Dec 20241.48B

Cash runway

-0.7 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
$-7.8M cash after burn from the quarter ended 30 June 2026 · Runway is computed from Appendix 4C/5B filings and announced raise proceeds. Filed with the quarterly report: $1.7M cash at quarter end (item 4.6), 0.4 qtrs of funding on the company’s own estimate. Our figure above carries the filed quarter-end balance forward at the reported spend rate and adds announced raise proceeds.
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11 quarters on record — Cash runway history
Quarterly cash, net spend and cover trend from every Appendix 4C/5B on record up to 30 June 2026.
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Issuance timeline

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

DateFormSecurityOn issue, per this filingSource
14 July 20263H · cancellationVNL : ORDINARY FULLY PAID1.48BAppendix 3H
17 June 20262A · quoted issueVNL : ORDINARY FULLY PAID1.48BAppendix 2A
15 June 20262A · quoted issueVNL : ORDINARY FULLY PAID1.48BAppendix 2A
15 June 20262A · quoted issueVNL : ORDINARY FULLY PAID1.44BAppendix 2A
20 May 20263G · unquotedVNL : ORDINARY FULLY PAID1.43BAppendix 3G
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78 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

5 cash raises in the last 24 months · 1 in the last 12 months

every 4.4 monthsaverage gap between raises
3.2 monthssince the most recent
16 Dec 2024 – 8 June 2026first to most recent in this window
$2.4M
Placement
8 June 2026
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8 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.

2.0M of option supply could convert within 12 months — 0.1% of shares on issue
2.0M in the money, expiring in the window
Out-of-the-money options are excluded — at today’s price they expire rather than convert. So is condition-triggered supply, which has no expiry and no price, and convertibles that convert on their own terms rather than on a date.
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8 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.

About 79% of the 15% placement capacity left — about 21% 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

7.5%
Options & rights overhang · of current shares
2.2%
In-the-money supply · at current price
111.3M
Potential new shares
Jan 2027
Nearest expiry
What a price move would switch on
55.7M111.3M$0.042 now0.25× today ($0.011) — 32.0M of the priced supply in the money, 2.2% of shares on issue0.5× today ($0.021) — 32.0M of the priced supply in the money, 2.2% of shares on issue0.75× today ($0.032) — 32.0M of the priced supply in the money, 2.2% of shares on issue1× today ($0.042) — 32.0M of the priced supply in the money, 2.2% of shares on issue1.25× today ($0.053) — 36.0M of the priced supply in the money, 2.4% of shares on issue1.5× today ($0.063) — 36.0M of the priced supply in the money, 2.4% of shares on issue2× today ($0.084) — 43.0M of the priced supply in the money, 2.9% of shares on issue3× today ($0.126) — 45.0M of the priced supply in the money, 3.0% of shares on issue5× today ($0.210) — 63.0M of the priced supply in the money, 4.3% of shares on issue10× today ($0.420) — 63.0M of the priced supply in the money, 4.3% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.042 today, 32.0M securities are in the money (2.2% of shares on issue). No more priced supply until 1.25× today’s price, which takes it to 36.0M (2.4% 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.
  • 40.1M (36.1% of the supply above) states a nil exercise price — nothing is paid to convert it, so no share price switches it on or off. It is the flat band, and it is not part of the in-the-money figure.
  • 8.1M (7.3% 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
VNLAUOptionsPrice-triggered$0.09810 Jan 20272.0MFiling
VNLAVOptionsPrice-triggered$0.01010 Feb 20272.0MFiling
VNLAOOptionsPrice-triggered$0.0483 Nov 20281.0MFiling
VNLACOptionsPrice-triggered$0.08229 Nov 20297.0MFiling
VNLASOptionsPrice-triggered$0.206 Dec 20315.0MFiling
VNLAXOptionsPrice-triggered$0.1313 May 203213.0MFiling
VNLAAOptionsPrice-triggered$0.01028 Nov 203230.0MFiling
VNLANOptionsPrice-triggered$0.05031 May 20333.0MFiling
VNLAFWarrantsPrice-triggered——8.1MFiling
VNLATOptionsPrice-triggeredNil—40.1MFiling

“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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10 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
16 June 2026Robert Kenneth GauntOther1.3M1.3M——3Y notice
19 Dec 2025Joshua SimonsOther24.5M30.0M——3Y notice
30 June 2025Ben KatovskySell————3Y notice
30 June 2025Linda JenkinsonSell————3Y notice
30 June 2025Robert Kenneth GauntSell————3Y notice
30 June 2025Stephen GleddenSell————3Y notice
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17 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$PPreliminary Final Report
21 July 2026$PStrategy Update Investor Presentation
21 July 2026$PQuarterly Activities/Appendix 4C Cash Flow Report
14 July 2026Notification of cessation of securities - VNL
24 June 2026Vinyl Group completes acquisition of Time Out Australia
17 June 2026Change of Director's Interest Notice
17 June 2026Cleansing Statement
17 June 2026Application for quotation of securities - VNL
15 June 2026Vinyl Group completes acquisition of Pedestrian Group
15 June 2026Cleansing Statement
15 June 2026Application for quotation of securities - VNL
15 June 2026Application for quotation of securities - VNL
9 June 2026Proposed issue of securities - VNL
9 June 2026$PPedestrian and Time Out Acquisition Presentation
9 June 2026$PTime Out acquisition and integration capital placement
8 June 2026$PTrading Halt
8 June 2026$PVNL to acquire Pedestrian for nominal consideration
20 May 2026Notification regarding unquoted securities - VNL
29 Apr 2026Cleansing Notice
29 Apr 2026Application for quotation of securities - VNL

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