Australia's G8 Education set for worst week in 5 years after former employee charged

G8 Education

04/07/2025 05:59

** G8 Education GEM.AX tumbles 19% so far this week, set for its weakest weekly performance since mid-March 2020

** Shares extend losses for fourth straight session, down 4% to their lowest since mid-December 2023

** Childcare centre operator said on Wednesday it was aware that a former employee was charged with offences involving children

** Firm said all employment and background checks conducted during the charged employee's tenure between October 2021 and February 2024 were in accordance with legal requirements

** Says it is cooperating with Victoria Police and other relevant authorities as part of the ongoing investigation

** Over 9 mln shares traded, nearly triple the 30-day avg

** YTD, stock down 26.8%

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))