Pulsar Helium Inc (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF), a primary helium exploration company, has announced the issuance of 454,000 new common shares following the conversion of Performance Share Units (PSUs) under its Fixed Equity Incentive Plan. The shares have been issued to Cambrian Limited, a company beneficially owned and controlled by Neil Herbert, former Executive Chair of Pulsar. Admission to trading on AIM is expected at 8.00 a.m. GMT on or around 9 November 2026, bringing the company's total issued share capital to 214,788,383 shares, with none held in treasury.

Key Points

  • Pulsar Helium Inc (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF)
  • 454,000 new shares issued to Cambrian Limited via PSU conversion under the Fixed Equity Incentive Plan, approved by the TSX Venture Exchange on 21 July 2026
  • Total issued share capital following admission: 214,788,383 shares; no shares held in treasury
  • Investors should watch for any further PSU conversions or equity plan activity and updates on Pulsar's flagship Topaz helium project in Minnesota

PSU Conversion Issued to Cambrian Limited, Linked to Former Executive Chair Neil Herbert

The 454,000 new shares have been issued to Cambrian Limited, a company the announcement states is beneficially owned and controlled by Neil Herbert, described as the former Executive Chair of Pulsar Helium. The issuance follows approval by the TSX Venture Exchange on 21 July 2026 and falls under the company's Fixed Equity Incentive Plan. The new shares rank pari passu with Pulsar's existing ordinary shares, meaning they carry the same rights. The announcement does not disclose the monetary value attributed to the PSUs at conversion, nor any further terms of the equity plan relating to this specific award.

AIM Admission Scheduled for 9 November 2026, Updating Shareholder Denominator to 214,788,383

Pulsar has applied to the London Stock Exchange for the new shares to be admitted to trading on AIM, with admission expected at 8.00 a.m. GMT on or around 9 November 2026. Following admission, the company's total issued share capital will stand at 214,788,383 shares, with no shares held in treasury. The company notes this figure serves as the denominator shareholders should use when calculating whether they are required to disclose interests or changes in interests under the FCA's Disclosure Guidance and Transparency Rules and the company's Articles of Association.

Pulsar's Helium Portfolio Spans Minnesota, Michigan, and Greenland

Pulsar Helium describes itself as a primary helium company, meaning its projects target helium not associated with hydrocarbon production. Its portfolio includes the flagship Topaz helium project in Minnesota, the Falcon project in Michigan, and the Tunu helium project in Greenland. The announcement states Pulsar is the first mover at each location, with primary helium occurrences identified at Minnesota and Greenland. Exploration work has not yet commenced at the Michigan location, representing a key development milestone investors may be monitoring for future project updates.