Step One Clothing Chief Executive Sells 8.9% Stake at AU$1.70 via Block Trade; Shares Decline 8%

MT Newswires Live

2024/09/26

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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