Australia's Step One Clothing slips after CEO trims stake

Step One Clothing

26/09/2024 02:05

** Shares of Step One Clothing  STP.AX  slip as much as
12.8% to A$1.635, set for their worst day since early May, if
losses hold 
    ** The online retailer says its founder and chief executive
officer sold down about 8.97% shares in the co; while its chief
legal officer has sold around a 1.1% stake  
    ** Adds sale was undertaken at A$1.70 per share via a fully
underwritten block trade 
    ** CEO to remain co's largest shareholder, having a 57.91%
stake after the sell-down 
    ** Shares hit their lowest levels since early Sept 
    ** Including day's moves, stock has risen ~68.7% this year

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))