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Equity - contributed equity | 12 Months Ended
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Jun. 30, 2024
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Equity - contributed equity | Note 22. Equity - contributed equity
|  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2024 |  |  | 2023 |  |  | 2022 |
|  | Shares |  |  | Shares |  |  | Shares |  |  | A$‘000 |  |  | A$‘000 |  |  | A$‘000 |
Ordinary shares - fully paid |  |  | 332,850,784 |  |  |  | 228,029,114 |  |  |  | 138,755,376 |  |  |  | 101,638 |  |  |  | 97,452 |  |  |  | 84,480 |
Movements in ordinary share capital
Details |  | Date |  | Shares |  |  | Issue price |  |  | A$ |
Balance |  | 1 July 2021 |  |  | 132,012,209 |  |  |  |  |  |  |  | 80,290,062 |
Issued on conversion of options |  | 15 December 2021 |  |  | 25,000 |  |  | $ | 0.668 |  |  |  | 16,700 |
Conversion of Triaxial Convertible Note |  | 5 May 2022 |  |  | 1,855,357 |  |  | $ | 0.25 |  |  |  | 464,000 |
ATM issue of shares No. 1 |  | 24 May 2022 |  |  | 10,000 |  |  | $ | 0.826 |  |  |  | 8,256 |
ATM issue of shares No. 2 |  | 2 June 2022 |  |  | 10,000 |  |  | $ | 0.802 |  |  |  | 8,025 |
ATM issue of shares No. 3 |  | 6 June 2022 |  |  | 88,710 |  |  | $ | 0.837 |  |  |  | 74,258 |
ATM issue of shares No. 4 |  | 9 June 2022 |  |  | 603,500 |  |  | $ | 0.84 |  |  |  | 507,035 |
ATM issue of shares No. 5 |  | 14 June 2022 |  |  | 75,940 |  |  | $ | 0.824 |  |  |  | 62,583 |
ATM issue of shares No. 6 |  | 15 June 2022 |  |  | 2,000 |  |  | $ | 0.83 |  |  |  | 1,661 |
ATM issue of shares No. 7 |  | 20 June 2022 |  |  | 4,072,660 |  |  | $ | 0.869 |  |  |  | 3,540,403 |
Less: share issue transaction costs |  |  |  |  | — |  |  | $ | — |  |  |  | ( 492,735 | )
Balance |  | 30 June 2022 |  |  | 138,755,376 |  |  |  |  |  |  |  | 84,480,249 |
Balance |  | 1 July 2022 |  |  | 138,755,376 |  |  |  |  |  |  |  | 84,480,249 |
ATM issue of shares No. 8 |  | 7 July 2022 |  |  | 573,370 |  |  | $ | 0.7102 |  |  |  | 407,201 |
ATM issue of shares No. 9 |  | 8 August 2022 |  |  | 8,561,490 |  |  | $ | 0.3316 |  |  |  | 2,839,346 |
ATM issue of shares No. 10 |  | 9 August 2022 |  |  | 10,000 |  |  | $ | 0.2723 |  |  |  | 2,723 |
ATM issue of shares No. 11 |  | 10 August 2022 |  |  | 158,020 |  |  | $ | 0.2465 |  |  |  | 38,949 |
ATM issue of shares No. 12 |  | 11 August 2022 |  |  | 330,960 |  |  | $ | 0.2413 |  |  |  | 79,868 |
ATM issue of shares No. 13 |  | 12 August 2022 |  |  | 1,247,440 |  |  | $ | 0.2469 |  |  |  | 308,050 |
ATM issue of shares No. 14 |  | 12 September 2022 |  |  | 651,030 |  |  | $ | 0.2211 |  |  |  | 143,964 |
ATM issue of shares No. 15 |  | 13 September 2022 |  |  | 28,350 |  |  | $ | 0.2187 |  |  |  | 6,200 |
Shares issued to Scientific Advisory Board |  | 14 September 2022 |  |  | 60,000 |  |  | $ | 0.21 |  |  |  | 12,600 |
ATM issue of shares No. 16 |  | 7 October 2022 |  |  | 736,760 |  |  | $ | 0.1789 |  |  |  | 131,797 |
ATM issue of shares No. 17 |  | 28 October 2022 |  |  | 12,296,180 |  |  | $ | 0.1865 |  |  |  | 2,293,288 |
ATM issue of shares No. 18 |  | 11 January 2023 |  |  | 20,000 |  |  | $ | 0.138 |  |  |  | 2,761 |
Professional and sophisticated investors placement - 1st tranche |  | 16 January 2023 |  |  | 25,387,018 |  |  | $ | 0.11 |  |  |  | 2,792,572 |
Professional and sophisticated investors placement - 2nd tranche |  | 28 February 2023 |  |  | 15,522,075 |  |  | $ | 0.11 |  |  |  | 1,707,428 |
Share Placement Plan |  | 3 March 2023 |  |  | 23,691,045 |  |  | $ | 0.11 |  |  |  | 2,606,000 |
Less: share issue transaction costs |  |  |  |  |  |  |  |  |  |  |  |  | (400,750 | )
Balance |  | 30 June 2023 |  |  | 228,029,114 |  |  |  |  |  |  |  | 97,452,246 |
Balance |  | 01 July 2023 |  |  | 228,029,114 |  |  |  |  |  |  |  | 97,452,246 |
ATM issue of shares No. 19 |  | 06 July 2023 |  |  | 8,148,140 |  |  | $ | 0.19 |  |  |  | 1,512,523 |
ATM issue of shares No. 20 |  | 07 July 2023 |  |  | 157,120 |  |  | $ | 0.16 |  |  |  | 25,877 |
ATM issue of shares No. 21 |  | 03 August 2023 |  |  | 15,000 |  |  | $ | 0.17 |  |  |  | 2,519 |
ATM issue of shares No. 22 |  | 29 November 2023 |  |  | 1,066,070 |  |  | $ | 0.10 |  |  |  | 107,268 |
Registered Direct Offering |  | 05 December 2023 |  |  | 26,200,000 |  |  | $ | — |  |  |  | — |
ATM issue of shares No. 23 |  | 13 February 2024 |  |  | 25,910 |  |  | $ | 0.0466 |  |  |  | 1,207 |
ATM issue of shares No. 24 |  | 14 February 2024 |  |  | 319,650 |  |  | $ | 0.0464 |  |  |  | 14,834 |
ATM issue of shares No. 25 |  | 15 February 2024 |  |  | 2,195,980 |  |  | $ | 0.0468 |  |  |  | 102,825 |
ATM issue of shares No. 26 |  | 16 February 2024 |  |  | 205,260 |  |  | $ | 0.0614 |  |  |  | 12,597 |
Armistice warrants |  | 21 February 2024 |  |  | 18,244,450 |  |  | $ | 0.0450 |  |  |  | 892,655 |
ATM issue of shares No. 27 |  | 21 February 2024 |  |  | 8,626,580 |  |  | $ | 0.0595 |  |  |  | 513,584 |
ATM issue of shares No. 28 |  | 22 February 2024 |  |  | 316,540 |  |  | $ | 0.0461 |  |  |  | 14,584 |
ATM issue of shares No. 29 |  | 2 3 February 2024 |  |  | 304,860 |  |  | $ | 0.0464 |  |  |  | 14,147 |
ATM issue of shares No. 30 |  | 26 February 2024 |  |  | 250,000 |  |  | $ | 0.0460 |  |  |  | 11,502 |
ATM issue of shares No. 31 |  | 01 May 2024 |  |  | 2,112,560 |  |  | $ | 0.0478 |  |  |  | 100,961 |
ATM issue of shares No. 32 |  | 02 May 2024 |  |  | 375,410 |  |  | $ | 0.0457 |  |  |  | 17,147 |
ATM issue of shares No. 33 |  | 03 May 2024 |  |  | 288,900 |  |  | $ | 0.0469 |  |  |  | 13,544 |
ATM issue of shares No. 34 |  | 07 May 2024 |  |  | 790,100 |  |  | $ | 0.0456 |  |  |  | 36,024 |
ATM issue of shares No. 35 |  | 10 May 2024 |  |  | 20,000 |  |  | $ | 0.0455 |  |  |  | 910 |
ATM issue of shares No. 36 |  | 16 May 2024 |  |  | 242,170 |  |  | $ | 0.0450 |  |  |  | 10,891 |
Repayment of promissory note |  | 19 June 2024 |  |  | 5,916,970 |  |  | $ | 0.0643 |  |  |  | 380,223 |
Equity line of credit |  | 24 June 2024 |  |  | 29,000,000 |  |  | $ | 0.0268 |  |  |  | 776,264 |
Less: share issue transaction costs |  |  |  |  |  |  |  |  |  |  |  |  | (376,573 | )
Balance |  | 30 June 2024 |  |  | 332,850,784 |  |  |  |  |  |  |  | 101,637,758 |
For the year ended 30 June 2024, Kazia issued 2,620,000 ADSs to an institutional investor (issued at US$0.45) under a securities purchase agreement (the “Securities Purchase Agreement”). As part of the Securities Purchase Agreement , the investor purchased 1,824,445 pre-funded warrants (purchased for US$0.44 with an exercise price of US$0.01) and 4,444,445 free attaching warrants (with an exercise price of US$0.583). The gross proceeds received for this placement was US$1,981,756 (translated into A$3,020,315 ) before transaction costs of A$382,463. The warrants issued were determined to be a derivative financial liability and the accounting standards require that the proceeds received are first applied to the fair value of any derivative liability issued and that equity then represents the residual value in the transaction. The fair value of the warrants at issue date were determined to equal US$1,981,756 resulting in no residual equity value. Hence the equity reconciliation above shows the 26,200,000 shares issued but attributes no dollar value to the issue. In February 2024, Armistice Capital exercised 1,824,445 prefunded warrants for a cash price of US$18,244 (translated into A$27,901) and 18,244,450 ordinary shares were issued. On 17 May 2024, the terms of the Securities Purchase Agreement were amended. in which the exercise price for the previously issued warrants was reduced to US$0.27 per ADS, and new warrants were issued to purchase up to 1,100,000 ADSs, with an exercise price of $0.27 per ADS. The original transaction resulted in the entire consideration being allocated to the derivative liability and all transaction fees associated with the transaction were expensed immediately. As such, the modification was directly adjusted through profit and loss along with any movement in the fair value of the derivative. The initial fair value of the newly issued warrants was A$232,488 and recorded as a derivative liability. On 19 April 2024, Kazia entered into a purchase agreement (the “Purchase Agreement”) with Alumni Capital LP (“Alumni Capital”). Pursuant to the Purchase Agreement, the Company may sell to Alumni Capital up to an aggregate of $15,000,000, of ADSs from time to time during the term of the Purchase Agreement. During the fiscal year ended 30 June 2024, Kazia sold an aggregate amount of A$776,264 of ADSs under the Purchase Agreement. Ordinary shares Ordinary shares entitle the holder to participate in dividends and the proceeds on the winding up of the C ompany in proportion to the number of and amounts paid on the shares held. The fully paid ordinary shares have no par value and the C ompany does not have a limited amount of authorized 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 buy-back There is no current on-market share buy-back. Capital risk management The Consolidated Entity’s objectives when managing capital are to safeguard its ability to continue as a going concern, so that it can provide returns for shareholders and benefits for other stakeholders and to maintain an optimum capital structure to reduce the cost of capital. Capital is regarded as total equity, as recognized in the statement of financial position, plus net debt. Net debt is calculated as total borrowings less cash and cash equivalents. The capital structure of the Consolidated Entity consists of cash and cash equivalents and equity attributable to equity holders. The overall strategy of the Consolidated Entity is to continue its drug development programs, which depends on raising sufficient funds, through a variety of sources including issuing of additional share capital, as may be required from time to time. The capital risk management policy remains unchanged from the prior year.

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