Borman becomes substantial holder in Orion Minerals with 8.3% stake

Thomas Ignatius Borman and Ratel Growth Pty Ltd became a substantial holder in Orion Minerals Ltd on July 14, 2025. This disclosure was made public through a late filing due to an administrative oversight. Their combined relevant interest totals 646,203,567 fully paid ordinary shares, representing 8.30% of the company's 7,781,150,330 shares on issue.

The substantial holding is comprised of two parts. Borman holds a relevant interest in 586,398,012 ordinary shares through his controlling shareholder status in Ratel Growth Pty Ltd, which is the registered holder. Additionally, Borman has a direct relevant interest in 59,805,555 ordinary shares, granting him the power to control voting and disposal rights over these securities.

Consideration for these acquisitions includes a non-cash component of A$2,050,378 for 186,398,014 shares acquired on July 14, 2025. A separate acquisition on October 7, 2025, involved a cash payment of A$2,000,000 for 133,333,333 ordinary shares. The registered holders for these securities are Ratel Growth Pty Ltd for the larger portion and UBS Limited for the smaller portion directly attributable to Borman.