Kogan.com says a poor sales update that sent its shares tumbling more than 27 per cent was not material amid questions from the ASX about the sale of $17.4 million in options by the company’s senior executives just three weeks before the announcement.
In letters disclosed to investors on Monday, ASX compliance officials queried the online retailer about the sale of the options – held by Kogan.com chief executive Ruslan Kogan and chief financial officer David Shafer – back to the company on April 4.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
