Peppermint Innovation Settles Dispute, Prepares to Resume ASX Trading
Peppermint Innovation Ltd has settled a monetary dispute with Obsidian Global GP LLC, paving the way to lift its ASX trading suspension and pursue new funding opportunities.
- Monetary demand from Obsidian withdrawn after binding settlement
- Settlement includes share issuance and scheduled USD payments
- No admission of liability or ongoing claims against Peppermint
- Convertible securities and share placement agreement with Obsidian terminated
- Company preparing to lift ASX suspension and advance business expansion
Background to the Dispute and Trading Halt
Peppermint Innovation Ltd (ASX – PIL), an Australian fintech focused on digital financial inclusion in the Philippines, faced a trading suspension on 7 January 2026. The halt was triggered after the company was unable to release an announcement within the timeframe set by its own trading halt request, which was lodged on 5 January. The suspension stemmed from an unresolved monetary demand made by Obsidian Global GP LLC, a key stakeholder with convertible securities and share placement agreements with Peppermint.
Settlement Agreement Details
On 29 January 2026, Peppermint and Obsidian reached a binding settlement agreement that effectively resolved the dispute. Under the terms, Obsidian withdrew its monetary demand and released Peppermint from all related claims. Importantly, the company did not admit any liability as part of the settlement. The agreement requires Peppermint to issue over 21 million fully paid ordinary shares at a deemed price of 0.35 cents per share immediately, followed by two scheduled payments of USD 50,000 by mid-March and USD 450,000 by the end of April 2026.
With these instalments, the convertible securities and share placement agreement with Obsidian will be terminated, removing a significant source of uncertainty for the company.
Implications for Peppermint’s Future
Following the settlement, Peppermint has received proposals for future funding and business expansion. The resolution clears the way for the company to apply to the ASX to lift the trading suspension, which it anticipates will occur promptly once funding is confirmed. This development is critical for restoring investor confidence and enabling Peppermint to focus on commercialising its Peppermint Platform, a mobile banking and lending solution aimed at enhancing financial inclusion in the Philippines.
While the share issuance will dilute existing shareholders, the termination of contingent liabilities and the prospect of fresh capital injections could strengthen Peppermint’s balance sheet and operational runway.
Looking Ahead
Peppermint’s management, led by CEO Chris Kain, appears committed to moving past this chapter and accelerating growth. The company’s ability to secure funding and successfully lift the ASX suspension will be closely watched by investors eager for clarity and momentum in the fintech’s journey.
Bottom Line?
Peppermint’s dispute resolution marks a turning point, but the path to renewed investor confidence hinges on upcoming funding and market re-entry.
Questions in the middle?
- How will the new share issuance affect Peppermint’s total shares outstanding and shareholder value?
- What are the specifics and conditions of the new funding proposals Peppermint has received?
- When exactly will the ASX lift the trading suspension, and how will the market respond?
