AUCyber has received the full $486,592 placement subscription payment, plus accrued interest, from an entity associated with former CEO Peter Maloney. The company will now issue 1,621,973 shares without further shareholder approval.
- Full placement payment and accrued interest received
- 1,621,973 shares to be issued
- Issue will use ASX Listing Rule 7.1 capacity
- Former CEO Peter Maloney no longer a related party
- Resulting dilution and issue date remain undisclosed
Outstanding Placement Payment Settled
AUCyber Limited (ASX:CYB) has removed a long-running payment uncertainty from its balance sheet, confirming it has received the full $486,592 placement subscription amount owed under a September 2024 agreement, together with all accrued interest.
The payment came from Peerless Investments Pty Ltd as trustee for the Peerless Superannuation Fund, an entity associated with former Managing Director and CEO Peter Maloney. AUCyber had most recently updated the market on the outstanding obligation on 2 September 2026.
1.62 Million Shares Set for Issue
With the money now received, AUCyber said it will issue 1,621,973 shares to Peerless Investments or a nominee directed by Maloney. The announcement does not disclose the amount of accrued interest or the implied issue price beyond identifying the original placement price.
The shares will be issued under AUCyber’s 15% placement capacity pursuant to ASX Listing Rule 7.1. Shareholder approval secured at the company’s 2025 annual general meeting has expired, while Maloney is no longer a related party, allowing the issue to proceed without a fresh shareholder vote.
Dilution Details Still to Come
For shareholders, the immediate significance is twofold: the company has collected the outstanding subscription funds, but it will also increase its issued share count once the shares are issued. AUCyber has not stated the resulting percentage dilution, the issue date or the identity of any nominee that may receive the shares.
The next useful filing will therefore be the formal share issue notice and updated capital figures. Until those details arrive, the payment is settled but the precise effect on existing holders remains to be quantified.
Bottom Line?
The cash obligation is now resolved, but shareholders still need the formal issue details to measure the dilution from the 1,621,973 new shares.
Questions in the middle?
- When will AUCyber complete the share issue and disclose the final recipient?
- What percentage of the enlarged share count will the 1,621,973 shares represent?
- How much accrued interest was received in addition to the $486,592 placement price?