Pilbara Minerals expands quoted capital after performance rights conversions

Pilbara Minerals Limited (PLS) will add 161,970 ordinary fully paid shares to its quoted capital on the ASX, effective October 24, 2025. This follows the conversion of performance rights issued under the company's award plan. The newly quoted shares will rank equally with existing issued securities.

The conversions involved two tranches of performance rights. Specifically, 76,854 performance rights (ASX: PLSAT), expiring December 31, 2026, were converted into ordinary fully paid shares. Additionally, 85,116 performance rights (ASX: PLSAN), expiring December 31, 2025, were also converted. No cash consideration was involved in these conversions.

Following these additions, the total number of ordinary fully paid shares quoted on the ASX for Pilbara Minerals will increase to 3,219,603,617. The company stated that these performance rights were issued under an employee incentive scheme, with vesting assessed against performance conditions over a 3-year period.