Step One Clothing (ASX:STP) founder and chief executive Greg Taylor has agreed to sell 16.6 million shares in the company, around 8.9% of its issued capital, at AU$1.70 per share via a block trade, according to a Thursday filing with the Australian bourse.
Following the sale, Taylor will have around 57.9% stake in the online innerwear brand and remain its largest shareholder, the filing stated.
Chief Legal Officer and Director Michael Reddie also sold 2 million shares or 1.9% of the company's issued capital.
Shares in Step One Clothing declined 8% in recent trade.
Price (AUD): $1.73, Change: $-0.15, Percent Change: -7.73%
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