New Age Exploration Director Departs While Related Entities Retain Large Equity Stake

New Age Exploration Limited ( (AU:NAE) ) has provided an update.

New Age Exploration has announced that director Joshua Wellisch ceased to be a director of the company on 2 March 2026, as disclosed in a final director’s interest notice lodged with the ASX. The filing details that while Wellisch holds no securities directly, associated entities LTJ Investments Pty Ltd and NRG Capital Pty Ltd collectively hold substantial stakes in New Age Exploration through ordinary shares, unlisted options and performance rights, signalling that his departure from the board does not immediately alter these underlying investment positions.

The notice specifies that LTJ Investments controls tens of millions of fully paid ordinary shares, a large tranche of unlisted options exercisable through late 2026 and a significant block of performance rights, while NRG Capital holds additional ordinary shares. This change in board composition, coupled with the continued exposure of related entities to the company’s equity, suggests that while governance and leadership dynamics may shift, key shareholders connected to the departing director retain a meaningful financial interest in New Age Exploration’s future performance.

The most recent analyst rating on (AU:NAE) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on New Age Exploration Limited stock, see the AU:NAE Stock Forecast page.

More about New Age Exploration Limited

New Age Exploration Ltd is an Australian-listed company engaged in exploration and resource development. The company’s securities are traded on the ASX, and its capital structure includes fully paid ordinary shares, unlisted options and performance rights held by various investment entities.

Current Market Cap: A$21.03M

For an in-depth examination of NAE stock, go to TipRanks’ Overview page.