Wrkr Says Miscommunication Resulted in Unintended On-Market Sale of Shares Held by Director; Shares Hit 52-Week Low
Wrkr (ASX:WRK) said a miscommunication between non-executive director Emma Dobson and her associates resulted in the unintended on-market sale of 603,540 shares by a joint trustee of the Southampton Family Trust in July, according to a Thursday filing with the Australian bourse.Dobson had received prior clearance from the company to undertake an off-market transfer of ordinary shares. The sale was not intended to change beneficial ownership and was instead aimed at segregating the Wrkr shares held by the trust.The inadvertent sale occurred without Dobson's knowledge, and upon discovering it, the director "took immediate corrective action" to cease any further on-market trading, the company said.Considering the inadvertent nature of the breach, the company's board issued a warning to Dobson and directed her to undergo refresher training on its trading policy. Dobson also voluntarily agreed to donate any profit derived from the disposal to charity.Wrkr said it is in compliance with ASX listing rules.The company's shares fell 2% in recent Thursday trade, hitting a 52-week low.
