Step One Clothing share sale announcement

Step One Clothing Limited (ASX:STP) has confirmed the sale of 16,632,352 fully paid ordinary shares by an entity associated with Mr. Greg Taylor, Founder and CEO, and 2,014,206 fully paid ordinary shares by Mr. Michael Reddie, Director and Chief Legal Officer. The shares were sold at a price of $1.70 per ordinary share through a fully underwritten block trade. Following this sale, Mr. Taylor will retain approximately a 57.91% shareholding in the Company, remaining Step One's largest shareholder. Both Mr. Taylor and Mr. Reddie have agreed to escrow their remaining shares until the release of the Company's full year results for the financial year ending 30 June 2025.

Executive commentary on share sale

Mr. Taylor expressed his excitement about Step One's growth opportunities and reaffirmed his commitment as the Founder and CEO. He highlighted the strong investor demand as the driving force behind the decision to sell, emphasizing that it represents a small portion of his shareholding. Mr. Taylor also mentioned that the sale enhances liquidity and free float, broadening the share register. He further emphasized his intent to remain a substantial, long-term shareholder.

Summary of Step One Clothing share sale

Step One Clothing Limited (ASX:STP) has announced the partial share sale by Mr. Greg Taylor and Mr. Michael Reddie. The sale, conducted at $1.70 per ordinary share, aims to enhance liquidity and free float, broadening the share register. Mr. Taylor, retaining approximately 57.91% shareholding, reiterated his commitment to Step One's growth ambitions and intent to remain a substantial, long-term shareholder. The remaining shares of both Mr. Taylor and Mr. Reddie are escrowed until the release of the Company's full year results for the financial year ending 30 June 2025. The Company continues to focus on executing its strategy and attracting new, long-term investors to support its global growth journey.