603,540 Shares Sold During Wrkr Closed Period, Board Details Response

603,540 Shares Sold During Closed Period

Wrkr Ltd (ASX:WRK) is repairing a trading-policy breach after 603,540 shares connected to non-executive director Emma Dobson were sold on-market during a closed period, prompting an ASX compliance query. The shares were sold between 14 and 17 July 2026 at prices ranging from $0.082 to $0.084, ahead of Wrkr’s quarterly activity report and Appendix 4C released on 22 July.

Wrkr told ASX that Dobson had received written clearance for a different transaction: an off-market transfer from the Southampton Family Trust to an account beneficially owned by her. The company said that transfer was intended to change the structure of the holding without changing beneficial ownership. A misunderstanding involving the trust’s joint trustees instead led to the on-market sale, which Wrkr said occurred without Dobson’s knowledge or authority.

Board Issues Warning and Orders Training

The board characterised the breach as inadvertent rather than a deliberate disregard of the Trading Policy. Its response was a formal warning for Dobson, together with a reminder that her closely connected persons and entities, including family trusts and trustees, must comply with the policy. She must also complete refresher training on securities trading obligations.

Dobson has separately agreed to acquire 603,540 shares on-market at $0.084, the highest price paid in the original sales, so she does not benefit from any share-price movement. If she cannot buy the shares at that price, she has agreed to donate any resulting profit from the disposal and subsequent acquisition to charity. Wrkr did not state that this repurchase has been completed, although it said control of shares held by the trust had been transferred to Dobson to reduce the risk of another inadvertent trade.

Wrkr Plans Trade Verification and Policy Review

The company says directors already require written clearance before trading, while the company secretary keeps a register of approvals, reminds personnel about closed periods and lodges director interest notices. Wrkr now plans to require trade confirmations or broker instructions after execution, allowing approved transactions to be checked against what actually occurred.

It will also review the Trading Policy, including its treatment of family trusts, joint trustees and other closely connected entities. Wrkr confirmed that it remains compliant with the Listing Rules, including its continuous disclosure obligations, and said the response to ASX was authorised by the board. The immediate governance issue is therefore framed as contained, but the practical test will be whether the promised verification process and policy changes are implemented, and whether the share repurchase generates a further disclosure.