BlackWall Confirms 1 WOT Security Per 24 Shares in Dividend Update

Dividend Update Clarifies Shareholder Entitlements

BlackWall Limited (ASX – BWF) has provided an important update on its previously announced in-specie dividend, confirming the exact ratio of WOT securities to be distributed to shareholders. This follows the company’s August notification which indicated that the final ratio would depend on the closing price of WOT securities on the dividend payment date.

On 7 October 2025, the closing price of WOT securities was recorded at $0.60. Based on this valuation, BlackWall has set the distribution ratio at one WOT security for every 24 BWF shares held as of the record date, 9 September 2025. This precise ratio gives shareholders clarity on their entitlements and allows for accurate portfolio adjustments.

Implications for Investors and Market

The in-specie dividend structure is a strategic move that often reflects a company’s approach to returning value to shareholders beyond traditional cash dividends. By distributing WOT securities, BlackWall is effectively offering shareholders a stake in another entity or asset class, which could diversify their holdings or expose them to new growth opportunities.

For investors, understanding the exact ratio is crucial for assessing the impact on their overall investment value. The 1 – 24 ratio means that shareholders will receive a relatively small number of WOT securities compared to their BWF holdings, but the market value of these securities will depend on how WOT performs post-distribution.

Looking Ahead

While the announcement provides clarity on the mechanics of the dividend, it leaves open questions about the broader strategic rationale behind the in-specie distribution and how it fits into BlackWall’s long-term plans. Market participants will be watching closely to see how the WOT securities trade following the distribution and whether this move signals further portfolio diversification or restructuring by BlackWall.

Investor relations contacts have been made available for shareholders seeking additional information, underscoring the company’s commitment to transparent communication during this process.