HITIQ Wins Court Order Validating 22.3M Listed Options After Quotation Breach
HITIQ Limited has received Federal Court orders validating the issue of its HIQOA Listed Options and extending the quotation deadline, resolving a corporate compliance matter that had resulted in trading suspensions. On 16 June 2026, the Court granted relief under section 1322 of the Corporations Act 2001 (Cth), covering 16,135,199 Underwriter Options and 6,181,818 Broker Options issued under the prospectus dated 15 May 2025.
Federal Court approval resolves quotation timing breach
The Court granted orders extending the quotation deadline nunc pro tunc to 24 December 2025, retroactively validating the original issue. The relief addresses a breach of section 723(3)(b) of the Corporations Act, which requires securities issued under a prospectus to be admitted to quotation within a specified timeframe.
The Court’s declaration under section 1322(4)(a) confirms the options issue is not invalid despite the timing breach, providing certainty to the 22,317,017 options collectively issued to underwriters and brokers. The Company had made requests on various dates for voluntary suspension of the HIQOA Listed Options whilst this matter was being resolved.
When big ASX news breaks, our subscribers know first
What listed options are and why quotation timing matters
Listed options give holders the right to buy shares at a set price by a set date. Under section 723(3)(b) of the Corporations Act, securities issued under a prospectus must be admitted to quotation within a specified timeframe or the issue may be deemed invalid.
A nunc pro tunc order — Latin for “now for then” — means the Court retroactively extended the deadline to 24 December 2025, validating the original issue as if the deadline had been met at that time. This mechanism prevents technical breaches from invalidating securities already in circulation.
Court orders and next steps
The Federal Court granted the following key orders:
- Extension of the quotation deadline nunc pro tunc to 24 December 2025
- Declaration that the options issue is not invalid despite the timing breach
- HITIQ must serve sealed orders on ASIC, ASX, and each optionholder
- 28-day window from the date of publication for any person claiming substantial injustice to apply to vary or discharge the orders
There was no order as to costs. The 28-day liberty-to-apply period is standard for these orders; absent any challenge, the matter is effectively closed.
The next major ASX story will hit our subscribers first
HITIQ’s concussion safety technology business
HITIQ develops concussion management and athlete safety technology for sport, clinical, and research applications worldwide. The company’s flagship product, PROTEQT™, co-developed with Shock Doctor, is an instrumented mouthguard and analytics platform delivering real-time head impact data.
The PROTEQT retail rollout across rebel, Chemist Warehouse, and Amazon launched in early 2026 alongside a 1,000-ad national radio campaign timed to the AFL and NRL pre-season, marking HITIQ’s transition from product development into broad consumer commercialisation.
Get Healthcare News Before the Market Reacts
Join 20,000+ investors receiving FREE breaking ASX healthcare news within minutes of release, complete with expert analysis. Click the “Free Alerts” button at Big News Blast to get real-time alerts the moment market-moving announcements drop.