WAM RESEARCH LIMITED

ASX:WAXFund / trust

212.0M shares on issueAppendix 2A · as of 28 Oct 2026212.0M fully diluted+0.0% if every option and right converts$0.79price · delayed$167.0MMarket capAt the previous close. On a day the price moves, shares × today’s price will differ. Prices delayed.

Minimal

Dilution risk

No major dilution pressure signals in current disclosures

Absolute levels — not a ranking against other companies.

Cash runwayno data — a bank, lender, insurer, property or investment vehicle: operating cash flow is not a spend rate, so no funding runway applies

Share-count growth (24m)3.1%

Raise cadence (24m)0 cash raises

Options & rights overhang0.0% of shares

In-the-money supply0.0% of shares

Pending proposed issuesnone

Between October 2024 and October 2026, its latest share-count filing, WAM RESEARCH LIMITED's ordinary share count grew 3.1% to 212M shares. The company has not raised capital through any cash placement, rights issue or share purchase plan in the past 24 months. No funding-runway figure is reported because the company is a listed investment vehicle and its operating cash flow is not a spend rate. No proposed securities issues (Appendix 3B) are currently pending.

AI-generated summary of this page's cited filings · updated 28 Oct 2026

Quick answers · 2

How much placement capacity does WAX have left?

None of the 15% placement capacity counted as used in the last 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 much has WAX's share count grown?

Wam Research has 212.0M shares on issue as at 28 Oct 2026, up 3.1% over 24 months according to its Appendix 2A filings.

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0.0%

Options & rights overhang

0.0%

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

Raises · last 12 months

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Cash cover · no runway frame

Shares on issue — last 2 years

Ordinary shares on issue

Weekly counts from ASX records. Dots mark cash capital raises. Latest count 212.0M per Appendix 2A (filed 28 Oct 2026).

Cash runway

No cash runway. This company is a bank, lender, insurer, property or investment vehicle: its operating cash flow is loans, deposits, inventory or portfolio purchases rather than a spend rate, so a funding runway does not apply.

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)

Date	Form	Security	On issue, per this filing	Source
28 Oct 2026	2A · quoted issue	WAX : ORDINARY FULLY PAID	212.0M	Appendix 2A
29 May 2026	2A · quoted issue	WAX : ORDINARY FULLY PAID	210.0M	Appendix 2A
28 Oct 2025	2A · quoted issue	WAX : ORDINARY FULLY PAID	208.5M	Appendix 2A
30 Apr 2025	2A · quoted issue	WAX : ORDINARY FULLY PAID	207.1M	Appendix 2A
25 Oct 2024	2A · quoted issue	WAX : ORDINARY FULLY PAID	205.6M	Appendix 2A

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6 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

No equity raises in the last 24 months.

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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.

No Appendix 3B in the last 12 months reports an issue under the 15% placement capacity (as at 2026-10-28).

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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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