Lovisa to issue new shares following performance right conversions

Lovisa Holdings Limited (ASX:LOV) announced its application for the quotation of 22,905 new ordinary fully paid shares on the ASX, following the conversion of performance rights. The announcement, dated October 3, 2025, detailed that these new shares were issued on September 8, 2025. These securities are issued as a result of options being exercised under the company's employee incentive scheme and will rank equally with existing issued securities.

The total number of securities to be quoted comprises two tranches: 17,919 shares resulting from the conversion of performance rights expiring on August 31, 2025, and an additional 4,986 shares from performance rights expiring on September 30, 2026. Both conversions involved new share issues for a cash consideration of AUD 38.04 per security. This cash consideration reflects the 1-month Volume Weighted Average Price (VWAP) at the issue date, with the exercise price received by the company for the related performance rights being nil.

Following the quotation, Lovisa Holdings' total quoted ordinary fully paid shares will increase to 110,738,494. The unquoted performance rights expiring on August 31, 2025, will be fully converted, bringing their outstanding total to zero, while 4,986 performance rights expiring on September 30, 2026, will remain unquoted. Key management personnel, specifically Chris Lauder, exercised performance rights resulting in 3,869 new shares from the first tranche and 1,268 new shares from the second tranche.