16. DERIVATIVE FINANCIAL INSTRUMENTS As at 31 Dec 2025 $’000 As at 31 Dec 2024 $’000 Current assets Forward exchange contracts – 1,362 As at 31 Dec 2025 $’000 As at 31 Dec 2024 $’000 Current liabilities Forward exchange contracts 1,935 – Refer to Note 21 for further details. 17. SHARE CAPITAL 2025 Shares 2024 Shares 2025 $’000 2024 $’000 Ordinary shares - issued 126,639,526 129,262,624 134,944 165,270 Movements in ordinary share capital Details Date Shares $’000 Balance 1 January 2024 129,665,676 173,127 Loan Funded Shares repaid and transferred to participant – 382 Shares issued on exercise of options 400,000 2,196 Share issue expenses - issue costs – (9) Shares bought back during the year (803,052) (10,426) Balance 31 December 2024 129,262,624 165,270 Loan Funded Shares repaid and transferred to participant – 5,715 Shares issued on exercise of options 650,000 3,569 Share issue expenses - issue costs – (37) Shares bought back during the year (3,273,098) (39,573) Balance 31 December 2025 126,639,526 134,944 Ordinary shares At 31 December 2025, 126,639,526 ordinary shares (31 December 2024: 127,012,624) are quoted on the ASX, and nil unquoted ordinary shares (31 December 2024: 2,250,000) were held as treasury stock in respect of the Loan Funded Share Plan described below. On 2 December 2024 Neuren commenced a share buy-back program, buying back 3,273,098 shares in the period to 31 December 2025. The share buy-back program concluded on 16 June 2025, with total consideration paid for the share buyback of $50.0 million since 2 December 2024. Ordinary shares entitle the holder to participate in dividends and the proceeds on the winding up of the company in proportion to the number of and amounts paid on the shares held. The fully paid ordinary shares have no par value and the company does not have a limited amount of authorised capital. On a show of hands every member present at a meeting in person or by proxy shall have one vote and upon a poll each share shall have one vote. Share based payments During year to 31 December 2025 $3.7 million (31 December 2024: $1.2 million) was recognised in share-based payments expense. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CONTINUED Neuren Pharmaceuticals Limited Annual Report 2025 48
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