Note 22. Capital and Reserves 2025 Number of Shares 2024 Number of Shares On issue at beginning of period 496,701,213 494,857,633 Issue of ordinary shares for placement at $0.3600 per share 55,555,556 - Issue of ordinary shares for share purchase plan at $0.3600 per share 8,549,850 - Issue of ordinary shares on exercise of unlisted zero exercise price options 523,238 625,247 Issue of ordinary shares to brokers (capital raising fees) 1,497,961 - Issue of ordinary shares on exercise of unlisted options at $0.4050 per share - 950,000 Issue of ordinary shares on exercise of unlisted options at $0.1800 per share - 233,333 Issue of ordinary shares to consultants - 35,000 On issue at the end of the period – Fully paid 562,827,818 496,701,213 22.1 Ordinary Shares Ordinary shares entitle the holder to participate in dividends and the proceeds on winding up of the Company in proportion to the number of and amounts paid on the shares held. Every holder of ordinary shares present at a meeting in person or by proxy, is entitled to one vote, and upon a poll each share is entitled to one vote. 22.2 Options In addition to options issued under share-based payment arrangements (refer Note 9), the Company issued 32,801,603 unlisted options at nil consideration during the year as attaching options issued in connection with placement activities undertaken during the period August to September 2025. The options were issued on the basis of one option for every two shares issued, are exercisable at $0.50 per option and expire on 30 November 2027. No options were exercised during the year. 22.3 Share-based Payments Reserve The share-based payments reserve is used to recognise the fair value of options issued but not exercised. 22.4 Translation Reserve The translation reserve comprises all foreign currency differences arising from the translation of the financial statements of foreign operations, as well as from the translation of liabilities that hedge the Group’s net investment in a foreign subsidiary. Note 23. Contingent Liabilities 23.1 Guarantees The Company has given guarantees in respect of bank security bonds amounting to $216,663 (2024: $200,452), secured by cash deposits lodged as security with the bank. 23.2 Jaguar Project Acquisition The terms of the Jaguar sale and purchase agreement (as amended by the acquisition of the offtake rights by the Company in June 2023) with Vale give rise to the following contingent liabilities related to the Jaguar project acquisition.  US$5.0 million on first commercial production from the project payable to Vale;  a royalty of 1.75% on net operating revenue for nickel sulphate or 2.00% on net operating revenue generated from any future concentrate production from the project payable to Vale; and  a royalty of 1.8% on net operating revenue generated from any future concentrate production from the project payable to BNDES. No material losses are anticipated in respect of any of the above contingent liabilities. There are no other contingent liabilities that require disclosure. 70 ANNUAL REPORT CENTAURUS METALS LIMITED CENTAURUS METALS ANNUAL REPORT 2025
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