Bendigo and Adelaide Bank to list new employee incentive shares

Bendigo and Adelaide Bank Limited (ASX:BEN) has applied for the quotation of 1,341 new ordinary fully paid securities. These shares, issued under an employee incentive scheme, are not subject to transfer restrictions and will be quoted on the ASX from September 4, 2025, integrating employee-awarded shares into the publicly traded capital.

The newly quoted shares comprise two tranches, with the first consisting of 641 ordinary fully paid employee shares and the second adding another 700 ordinary fully paid employee shares, both valued at an estimated AUD 12.330000 per security. Both tranches were issued for non-cash consideration and will rank equally in all respects with existing issued shares from their issue date.

Following this quotation, the total number of ordinary fully paid shares on issue for Bendigo and Adelaide Bank Limited will increase to 567,981,691. The company's total unquoted ordinary fully paid employee shares will adjust to 274,718 for BENAA and 36,423 for BENAB, alongside 5,221,515 performance rights. The issue falls under Listing Rule 7.2 exception 9, meaning no security holder approval is required.