Why Did RocketBoots Delay Disclosing Director’s Interest Change?
RocketBoots Limited has responded to ASX concerns over a delayed director interest disclosure, attributing the lapse to an administrative oversight during a holdings restructure. The company affirms its compliance policies and has taken steps to prevent future delays.
- Late lodgement of Appendix 3Y for director David Willington due to administrative oversight
- Delay discovered during private quarterly review in January 2026
- RocketBoots maintains Securities Trading Policy aligned with ASX Listing Rules
- Director’s private entity adopts new policies to ensure timely disclosures
- Company considers incident isolated and reiterates director disclosure obligations
Background to the Delay
RocketBoots Limited (ASX, ROC), a player in the wearable technology sector, recently addressed a regulatory query from ASX Compliance concerning the late lodgement of an Appendix 3Y notice. The notice relates to a change in the notifiable interests of director David Willington, which occurred on 22 September 2025 but was only disclosed to the market on 5 January 2026.
The company explained that the delay was caused by an administrative oversight during a restructure of Mr Willington’s holdings. This oversight was not initially communicated to RocketBoots and was only uncovered during a private quarterly review of his entity in January 2026. Upon discovery, the matter was promptly reported to RocketBoots, which then moved quickly to clarify details and lodge the required notice with the ASX.
Compliance Framework and Company Response
RocketBoots confirmed that all its directors are fully aware of their disclosure obligations under ASX Listing Rule 3.19A, which mandates timely reporting of changes in directors’ interests. The company maintains a Securities Trading Policy that outlines these requirements and complies with the Corporations Act 2001.
In response to the incident, Mr Willington’s private entity has implemented new policies to ensure future changes in interests are disclosed promptly. RocketBoots views this as an isolated incident rather than a systemic failure of its internal controls. The board has reiterated to all directors the importance of adherence to disclosure rules to maintain market integrity and investor confidence.
Regulatory Context and Market Implications
The ASX’s query letter highlighted the potential breach of Listing Rules 3.19A and 3.19B, which require entities to have arrangements ensuring directors disclose relevant information within prescribed timeframes. Non-compliance can lead to trading suspensions or other regulatory actions, underscoring the importance of robust governance.
While the financial impact of this disclosure delay appears minimal, the episode serves as a reminder of the scrutiny listed companies face regarding transparency and regulatory compliance. Investors and analysts will likely watch closely for any further compliance issues or disclosures from RocketBoots.
Looking Ahead
RocketBoots’ swift response and corrective measures may reassure stakeholders, but the company’s governance practices will remain under the microscope. The incident underscores the challenges companies face in managing director disclosures, especially when private entities and restructures are involved.
Bottom Line?
RocketBoots’ handling of this disclosure lapse will be a key test of its governance resilience in 2026.
Questions in the middle?
- Will RocketBoots face any further regulatory scrutiny or sanctions related to this incident?
- How will the company strengthen oversight to prevent future disclosure delays?
- Could this oversight affect investor confidence in RocketBoots’ governance practices?
