Adairs reports lapse in performance rights, impacting future equity conversions

Adairs Limited (ASX:ADH) reported the cessation of 1,477,121 unquoted performance rights effective June 30, 2025. This cessation is due to the non-satisfaction or incapability of satisfying the underlying conditions attached to these conditional rights. The company has confirmed it is not paying any consideration for this cessation.

Following this event, the total number of unquoted performance rights on issue for Adairs Limited has decreased to 2,438,597. Meanwhile, the number of quoted ordinary fully paid securities remains at 177,337,058.

The announcement was made on October 29, 2025, detailing the changes in the company's issued capital structure. This adjustment reflects the performance outcomes tied to the unquoted securities, impacting the overall pool of potential future equity conversions.