Develop Global adjusts capital with option cessation and share conversion

Develop Global Limited (ASX:DVP) has completed a series of capital adjustments, including the cessation of unquoted options and the conversion of performance rights into ordinary fully paid shares. The company announced the cessation of 36,567 unquoted options (DVPAAG), which expired on December 4, 2025. This cessation was due to a "cashless exercise facility" that resulted in the issue of 3,433 ordinary fully paid shares.

Separately, Develop Global also issued 60,984 new ordinary fully paid shares (DVP) following the exercise of an equivalent number of vested performance rights (DVPAV). These conversions took place between November 6, 2025, and December 3, 2025, with the shares issued/transferred on December 4, 2025. These performance rights were issued under an employee incentive scheme.

Following these transactions, Develop Global's issued capital now includes 329,985,475 ordinary fully paid shares. The unquoted securities comprise 100,000 options expiring December 15, 2026, at an exercise price of A$4.38 (DVPAAJ), 1,324,067 options expiring on various dates with various prices (DVPAAG), and 11,717,357 performance rights (DVPAV).