AI assistant
TURNSTONE RESOURCES LTD — Capital/Financing Update 2026
Mar 22, 2026
65958_rns_2026-03-22_2e0aa2bc-81b9-4246-bab7-a9e64e7e3270.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
ASX: TSR
==> picture [168 x 65] intentionally omitted <==
ASX Announcement
23 March 2026
Unmarketable Parcel Sale Facility
Turnstone Resources Ltd (ASX:TSR) ( Turnstone or the Company ) is pleased to advise that it is establishing an opt-out unmarketable parcel sale facility (Facility) for shareholders who hold less than $500 worth of fully paid ordinary shares in the Company (Unmarketable Parcel).
Turnstone appreciates that Unmarketable Parcels can be difficult or expensive to sell, so the Company is offering the Facility to enable eligible shareholders who hold less than $500 worth of Shares to sell their Shares without having to act through a broker or pay brokerage or handling fees. The Company will pay all costs associated with the sale and transfer of Shares through the Facility (excluding any tax consequences of the sale, which will be the responsibility of relevant shareholder).
The Facility, whilst benefiting small shareholders, will also benefit Turnstone as it is expected to significantly reduce the administration costs associated with maintaining a large number of small shareholdings on the Company’s share register.
As at market close on 20 March 2026 (Record Date), the closing price of the Company’s shares on ASX was $0.023 and on this basis an Unmarketable Parcel is less than 21,739 shares.
The sale price of the Unmarketable Parcel will be based on the volume weighted average price (VWAP) of the 10 trading days prior to the Record Date, being $0.0275 per share
In accordance with the Company’s Constitution and ASX Listing Rules, the attached letter and Share Retention Form will be sent to all shareholders holding an Unmarketable Parcel of shares as at the Record Date.
Shareholders with an Unmarketable Parcel who wish to retain their shareholding need to give the Company written notice by returning the Share Retention Form by no later than 5.00pm (AWST) on 6 May 2026 or acquire additional shares prior to that time such that their holdings comprise a marketable parcel, otherwise their shares will be sold by the Company. Shareholders are also able to retain their shares online by completing an online election at: https://portal.automic.com.au/investor/home.
Shareholders wishing to take advantage of the Facility and have their shares sold by the Company do not need to take any action. A summary of key dates in relation to the Facility are as follows:
| Unmarketable Parcels Record Date | 20 March 2026 |
|---|---|
| ASX announcement regardingUnmarketable Parcels Sale Facility | 23 March 2026 |
| Dispatch of Letter to holders of Unmarketable Parcels | 25 March 2026 |
| ClosingDate for Receipts of Share Retention Form | 6 May2026 |
The Company may modify these dates or suspend or terminate the Facility. Any modification, suspension or termination will be notified to shareholders by way of a market announcement.
Turnstone Resources Ltd | ASX:TSR | ACN: 153 414 852
U15, 6-10 Douro Place, West Perth WA 6005 P: +61 (0) 408 447 493 E: [email protected] W: turnstoneresources.com
Page 1 of 2
==> picture [596 x 55] intentionally omitted <==
Below is the letter to be sent to eligible shareholders enclosing the Unmarketable Parcel Sale Facility terms and conditions.
This announcement was authorised for release by the Turnstone Board of Directors
– ENDS –
For more information please contact:
Len Jubber
Andrew Willis
Executive Chair Investor and Media Relations
Turnstone Resources Ltd NWR Communications
E: [email protected] E: [email protected]
ASX:TSR | E: [email protected] W: turnstoneresources.com
Page 2 of 2
ASX: TSR
==> picture [168 x 65] intentionally omitted <==
XX March 2026
Dear Shareholder
Unmarketable Parcel Sale Facility
We are writing to advise you that Turnstone Resources Ltd (ASX:TSR) (Company) has established an unmarketable parcel sale facility (Facility) for shareholders who hold less than $500 in value of fully paid ordinary shares in the Company (Shares) (Unmarketable Parcel) as at 5.00pm (AWST) on 20 March 2026 (Record Date).
The Company is providing this Facility to assist holders of Unmarketable Parcels who might otherwise find it difficult to sell their Shares without incurring brokerage or handling costs, due to the size of their holdings. Holders of Unmarketable Parcels may opt out of the Facility as noted below.
Our registry records show that you held an Unmarketable Parcel of less than 21,739 Shares in the Company, based on the Company’s closing price (Sale Price) for Shares on the Record Date of $0.023. The sale price of the Unmarketable Parcel will be based on the volume weighted average price (VWAP) of the 10 trading days prior to the Record Date, being $0.0275 per share
In accordance with clause 3.13 of the Company’s constitution (Constitution), if you hold Shares in a CHESS Holding and they remain in a CHESS Holding after 5.00pm (AWST) on Wednesday 6 May 2026 (Closing Date), the Company may, without further notice, remove those Shares from the CHESS Holding to an Issuer Sponsored Holding for the purposes of divestment in accordance with this notice. The Company will pay all costs of the sale for holders of an Unmarketable Parcel who use this Facility, excluding tax consequences from the sale which remain the shareholder's responsibility. In accordance with clause 3 of the Constitution, the Company may sell Shares under the Facility on the terms and in the manner which the Company’s Directors consider appropriate. You will receive the proceeds of the sale of your Shares sold under the Facility, without any deduction for brokerage or handing costs.
As the Company has determined that all payments to shareholders are to be made via direct credit to their nominated bank account, please ensure your account details are up to date with the Company’s share registry, Automic Pty Ltd (Automic). You can update your banking and personal details by logging in or registering via the Automic Investor Portal at: https://portal.automic.com.au/investor/home . If you require further assistance, please contact Automic on Australia: 1300 288 664 Overseas: +61 2 9698 5414.
What do you need to do if you wish to sell your Unmarketable Parcel?
In accordance with clause 3 of the Constitution, if you wish to sell your Unmarketable Parcel you do not need to take any action. Your Shares will be sold through the Facility after the Closing Date and the proceeds of the sale paid to you as soon as practicable.
If you have previously provided the Company with details of an account with an Australian financial institution, your sale proceeds will be paid in Australian dollars by direct credit into that account. The Company encourages you to notify it of your account details by logging in or registering via the Automic Investor Portal at: https://portal.automic.com.au/investor/home.
Turnstone Resources Ltd | ASX:TSR | ACN: 153 414 852
U15, 6-10 Douro Place, West Perth WA 6005 P: +61 (0) 408 447 493 E: [email protected] W: turnstoneresources.com
Page 1 of 4
==> picture [596 x 47] intentionally omitted <==
What do you need to do if you wish to retain your Unmarketable Parcel?
In accordance with clause 3.13(b) of the Constitution, should you wish to retain your Shares you must:
-
submit a retention using the attached Share Retention Form or via the Automic Investor Portal at : https://portal.automic.com.au/investor/home and ensure your retention is received by Automic before the Closing Date, being 5.00pm (AWST) on Wednesday, 6 May 2026; or
-
alternatively, you may acquire additional Shares so that you hold at least 21,739 Shares as at the Closing Date. In this event, the Facility will not apply to any of your Shares.
Pursuant to clause 3.13(b) of the Constitution, if the Company has not received a Share Retention Form with respect to your Shares, or your holding has not increased to at least 21,739 Shares, as at the Closing Date, you will be deemed to have irrevocably appointed the Company as your agent to sell or otherwise dispose of your Shares under the Facility and to deal with the proceeds of the sale as contemplated above.
Key Dates
A summary of key dates in relation to the Facility are as follows:
| Unmarketable Parcels Record Date | 20 March 2026 |
|---|---|
| ASX announcement regarding Unmarketable Parcels Sale Facility | 23 March 2026 |
| Dispatch of Letter to holders of Unmarketable Parcels | 25 March 2026 |
| Closing Date for Receipts of Share Retention Form | 6 May 2026 |
The Company may modify these dates or suspend or terminate the Facility. Any modification, suspension or termination will be notified to shareholders by way of a market announcement on ASX.
Important Notes
The Company is not licensed to provide financial product advice. The Company makes no recommendation as to whether you should participate in the Facility. You are encouraged to seek advice from your legal, financial, taxation or other professional adviser if you are unsure about what to do in response to this notice.
The attached Information Sheet provides further information about the Facility. If you have any further questions about the Facility, please contact Automic’s Information Line on:
Australia: 1300 288 664, Overseas: +61 2 9698 5414 or email via [email protected]
Yours faithfully
Len Jubber
Executive Chair
Turnstone Resources Ltd
ASX:TSR | E: [email protected] W: turnstoneresources.com
Page 2 of 4
==> picture [596 x 45] intentionally omitted <==
INFORMATION SHEET - UNMARKETABLE PARCEL SALE FACILITY
Why is the Company Implementing the Facility?
The Company welcomes the support of all shareholders, however, the administrative costs in producing and distributing shareholder communications and maintaining small holdings on the register through registry fees can be disproportionately high when compared with the dollar value of small holdings. Additionally, the Facility will assist holders with a small number of Shares who would find it difficult or expensive to dispose of those Shares through the normal means.
Does the Company have the authority to sell my Shares?
Under ASX Listing Rule 15.13 and clause 3 of the Constitution, the Company has the right to sell Unmarketable Parcels, unless shareholders give notice to the Company before the Closing Date that they wish to retain their Shares or acquire additional Shares such that their holding at the Closing Date comprises a marketable parcel.
What should I do if I wish to sell my Unmarketable Parcel of Shares?
If you wish to sell your Shares without incurring brokerage or handling costs, you can simply refrain from taking any action.
By refraining from taking any action, you will be deemed to have irrevocably appointed the Company as your agent:
-
to sell all your Shares at $0.0275 per share without any cost being incurred by you; and
-
to deal with the proceeds of the sale as detailed in this Information Sheet.
If you take no action, your Shares will be sold through the Facility after 6 May 2026 ( Closing Date ) and the proceed will be paid to you.
When will my Shares be sold under the Facility?
The sale of Shares under the Facility will occur as soon as practicable after the Closing Date.
Can I purchase more Shares, so my Shares will not be sold?
If you increase your holding so that the number of Shares held is at least $500 worth, the equivalent of 21,739 Shares (i.e., a Marketable Parcel) or more at the Closing Date, then the Company will not sell your Shares under the Facility.
What if I hold multiple Unmarketable Parcels?
If you hold multiple holdings that, in isolation, are deemed to be Unmarketable Parcels, but when aggregated would constitute a Marketable Parcel, you will still be required to take action to retain your shares in respect of each holding. You can contact Automic to have those holdings amalgamated into one holding after the Closing Date. If you do not do this, each of your holdings will be treated as Unmarketable Parcels.
When and how will I receive sale proceeds?
The proceeds from the sale of your Shares will be remitted to you as soon as practicable after the completion of the Facility. The expected payment date is as soon as practicable after 6 May 2026. The payment will be made into the bank account nominated by you to Automic.
If you do not have a bank account nominated with Automic at the time of the payment, the payment will be held by Automic until bank account details are nominated by you.
ASX:TSR | E: [email protected] W: turnstoneresources.com
Page 3 of 4
==> picture [596 x 45] intentionally omitted <==
IMPORTANT NOTES
This Information Sheet and accompanying letter do not constitute advice, nor a recommendation to buy, sell or hold Shares in the Company, nor that the Facility is the best way to sell your Shares.
If you are in doubt about what to do, you should consult your legal, financial, taxation or other professional adviser.
The Company reserves the right to change any of the dates referred to in the accompanying letter, this Information Sheet or the Share Sale Election Form by written notice to ASX. The Company may, before a sale of Shares is completed under the Facility, suspend or terminate the Facility, either generally or in specific cases.
ASX:TSR | E: [email protected] W: turnstoneresources.com
Page 4 of 4
All Registry Communication to:
==> picture [142 x 54] intentionally omitted <==
Turnstone Resources Limited | ACN 153 414 852
==> picture [77 x 73] intentionally omitted <==
GPO Box 5193, Sydney NSW 2001 1300 288 664 (within Australia) +61 2 9698 5414 (international) [email protected] www.automicgroup.com.au
[EntityRegistrationDetailsLine1Envelope] [EntityRegistrationDetailsLine2Envelope] [EntityRegistrationDetailsLine3Envelope] [EntityRegistrationDetailsLine4Envelope] [EntityRegistrationDetailsLine5Envelope] [EntityRegistrationDetailsLine6Envelope]
Shares held at 4:00pm (AWST) on 20 March 2026: [TSRUMP26WKHolding]
ASX Security Code: TSR
Holder Number: [HolderNumberMasked]
SHARE RETENTION FORM
YOUR RETENTION FORM MUST BE RECEIVED BY NO LATER THAN 5:00PM (AWST) ON 6 MAY 2026
This is an important document and requires your immediate attention. This document should be read in conjunction with the enclosed shareholder letter. If you are in any doubt as to how to deal with this form, you should consult your professional advisor.
Online Election
Complete this if you wish to retain your shares.
Visit https://portal.automic.com.au/investor/home.
To make your election online, simply scan the barcode to the right or enter the above link into your browser. Instructions lodging your election online and accessing this portal are provided in the section overleaf.
-
✓ It’s fast and simple: Electing online is quick and easy, it eliminates postal delays and removes the risk of forms being lost in transit.
-
✓ It’s secure and confirmed: Electing online provides you with greater privacy and confirmation that your election has been successfully received.
==> picture [74 x 73] intentionally omitted <==
Paper Election
Return this form if you wish to retain your shares.
If you wish for your shares to be sold under the Share Sale Facility, you do not need to return this form.
Please provide your contact details below only if you wish to retain your shares . If you wish for your shares to be sold under the Share Sale Facility, no action is required.
| Telephone Number Contact Name (PLEASE PRINT) Email Address SUPPORT YOUR COMPANY:By providing your email address, you elect to receive all communications despatched by the Company electronically (where legally permissible). |
|
|---|---|
Payment Details
If you wish for your shares to be sold under the Share Sale Facility, to ensure prompt payment of any sale proceeds by electronic funds transfer (EFT), please review and update your payment details via the Automic Investor Portal at https://portal.automic.com.au/investor/home.
FID: xxxxx
INSTRUCTIONS FOR COMPLETING THIS FORM
ELECTION OPTIONS
RETENTION OF SHARES
If you wish to retain your shares, please make an election online or return this form so it is received no later than the closing date.
SELLING YOUR SHARES
If you wish for your shares to be sold under the Share Sale Facility you do not need to make an election or return this form. To ensure you receive payment via EFT please update your payment details at https://portal.automic.com.au/investor/home.
LODGING YOUR RETENTION FORM
IMPORTANT! Retention Forms cannot be returned by fax or email. Your Retention Form must be returned via one of the return methods provided below.
Due to recent changes to delivery times by Australia Post, standard delivery may now take up to ten (10) business days, or longer from regional areas. Shareholders should bear this in mind when returning their Retention Form using Australia Post.
ONLINE
Existing users: If you have an existing Automic Investor Portal account, with access to Turnstone Resources Limited, you do not need to register and can log in with your existing username and password at https://portal.automic.com.au/investor/home.
If you do not automatically see your TSR shareholding in your account, you can easily add it by selecting the "Add holding" button on the top right-hand corner of the screen and following the prompts.
New users: If you do not have an existing Automic account you will need to register for Investor Portal by visiting https://singleholding.automic.com.au/signup and following these steps:
-
In the Company Name field, select "Turnstone Resources Limited (TSR)"
-
Enter your Holder Number (SRN or HIN)
-
Enter the postcode (Australian address) or click "change country" to select the country code (overseas address) relevant to your holding
-
Tick the "I'm not a robot" box and click "Next" 5. Complete the prompts to set up your Username and Password
Once you are logged in, select "Offers" from the left-hand vertical menu and follow the prompts.
BY MAIL
Turnstone Resources Limited – Unmarketable Parcel Sale Facility C/- Automic Group GPO Box 5193 Sydney NSW 2001
BY HAND DELIVERY (Between Sydney office hours 9:00am – 5:00pm) Automic Group Level 5 126 Phillip Street Sydney NSW 2000
YOUR SHARE RETENTION FORM MUST BE RECEIVED BY NO LATER THAN 5:00PM (AWST) ON 6 MAY 2026 .