Andrew Crane, Director at Ricegrowers Limited, Acquires 2,155 B Class Share Rights via Fee Sacrifice Plan

Key Points<\/h3>

• Company: Ricegrowers Limited (ASX:SGL)<\/li>
• Non-executive Director Andrew John Crane acquired 2,155 B Class Share Rights on 26 June 2026<\/li>
• Rights issued under the Non-executive Directors' Fee Sacrifice B Class Share Acquisition Plan<\/li>
• Transaction valued at $29,998.90, calculated using a VWAP of $13.9206 per B Class Share Right<\/li>
• Prior to this transaction, Crane held 14,523 B Class Shares; no shares were sold<\/li>
• Post-transaction holdings: 14,523 B Class Shares and 2,155 B Class Share Rights<\/li>
• The acquisition occurred outside a closed trading period; no prior written clearance was necessary<\/li>
• Investors should monitor future director participation in the Fee Sacrifice Plan and related disclosures<\/li> <\/ul> <\/div>

  Andrew Crane’s Shareholding Update Following 26 June 2026 Acquisition<\/h2>

  Following the 26 June 2026 transaction, Non-executive Director Andrew John Crane holds a total of 14,523 B Class Shares alongside 2,155 newly acquired B Class Share Rights in Ricegrowers Limited. The number of B Class Shares remained unchanged from the previous director’s interest notice dated 30 January 2026, as no shares were disposed of during this transaction. The addition of 2,155 B Class Share Rights reflects the updated element of Crane’s disclosed interest.<\/p>

  This acquisition stems from the Non-executive Directors' Fee Sacrifice B Class Share Acquisition Plan, which allows Non-executive Directors to redirect a portion of their Board Fees into B Class Share Rights rather than receiving cash payments. This equity participation mechanism aims to align directors’ interests with those of shareholders by providing a direct economic stake in the company’s performance.<\/p>

  Mechanics of the Non-executive Directors' Fee Sacrifice B Class Share Acquisition Plan at Ricegrowers Limited<\/h2>

  The Fee Sacrifice Plan permits Non-executive Directors to voluntarily convert some or all of their Board Fees into B Class Share Rights. This structured remuneration approach is increasingly common among ASX-listed companies, designed to enhance alignment between directors and long-term shareholder value. By acquiring B Class Share Rights instead of cash fees, directors gain economic exposure to the company’s share price, incentivising governance decisions that support sustainable growth. The company did not provide further details regarding specific terms or conditions attached to these share rights in this update.<\/p>

  Transaction Valued at $29,998.90 Based on VWAP of $13.9206 Per B Class Share Right<\/h2>

  The acquisition of 2,155 B Class Share Rights was valued at $29,998.90, calculated using a volume-weighted average price (VWAP) of $13.9206 per share right. VWAP is a standard pricing method in equity-linked remuneration plans, reflecting the average trading price over a set period to mitigate short-term volatility and ensure transparent, market-based valuation.<\/p>

  This valuation method ensures fairness for both the director and the company by referencing prevailing market conditions rather than a single price point. The specific VWAP calculation period was not disclosed. The transaction value suggests a partial fee sacrifice rather than a full conversion of director fees.<\/p>

  Direct Interest Held by Andrew Crane with No Indirect Holdings Reported<\/h2>

  The update confirms that Andrew John Crane’s interest in this transaction is direct, with no indirect holdings through related parties, trusts, or corporate entities reported. This distinction is important for investors assessing the full extent of a director’s economic exposure. The B Class Share Rights are held personally by Crane, without intermediaries. No contractual interests or derivative arrangements were noted, indicating the change pertains solely to securities ownership.<\/p>

  Transaction Executed Outside Closed Trading Period<\/h2>

  Ricegrowers Limited confirmed that the acquisition did not occur during a closed period requiring prior written clearance. ASX Listing Rules and the company’s securities trading policy typically restrict director transactions during sensitive periods, such as around financial results releases. The absence of a closed period and the lack of required clearance confirm compliance with governance and regulatory standards.<\/p>

  Understanding Ricegrowers Limited’s B Class Share Structure<\/h2>

  Ricegrowers Limited’s capital structure includes B Class Shares and B Class Share Rights, both referenced in this notice. While B Class Shares represent immediate ownership, B Class Share Rights usually confer conditional entitlement to shares upon meeting specific criteria. The company did not disclose details on rights, entitlements, or conversion conditions attached to the B Class Share Rights acquired through the Fee Sacrifice Plan.<\/p>

  For investors, distinguishing between Crane’s 14,523 B Class Shares and 2,155 B Class Share Rights is essential, as the latter may convert to shares in the future subject to plan conditions.<\/p>

  Previous Director Interest Notice and Ongoing Participation in Fee Sacrifice Plan<\/h2>

  Andrew John Crane’s prior director interest notice was filed on 30 January 2026, indicating this is his second disclosure in 2026. The five-month interval between notices suggests periodic participation in the Fee Sacrifice Plan, likely aligned with Board Fee payment schedules. However, the January notice’s details regarding the Fee Sacrifice Plan were not specified. Investors seeking further information should consult Ricegrowers Limited’s most recent annual remuneration report.<\/p>

  Regulatory Context Under ASX Listing Rule 3.19A.2 and Corporations Act 2001<\/h2>

  This disclosure complies with ASX Listing Rule 3.19A.2 and section 205G of the Corporations Act 2001, which mandate timely reporting of directors’ changes in relevant securities interests. The Appendix 3Y form is the standard mechanism for such disclosures. This ensures transparency and provides investors with up-to-date information on director shareholdings as part of continuous disclosure obligations.<\/p>

  Ricegrowers Limited has fulfilled its regulatory responsibilities by lodging this notice on behalf of Andrew Crane, reflecting routine governance and transparency rather than speculative activity.<\/p>

  Implications of the Fee Sacrifice Transaction for Board Remuneration at Ricegrowers Limited<\/h2>

  The active use of the Non-executive Directors' Fee Sacrifice B Class Share Acquisition Plan demonstrates Ricegrowers Limited’s commitment to equity-based remuneration for its Non-executive Directors. Such plans are generally viewed positively by institutional investors and governance advisors as they encourage directors to maintain a meaningful economic interest without increasing cash remuneration expenses.<\/p>

  Andrew Crane’s acquisition of $29,998.90 worth of B Class Share Rights exemplifies this philosophy. The company did not disclose whether other Non-executive Directors participated similarly during this period. Investors valuing director-shareholder alignment may regard this ongoing arrangement as a significant governance factor.<\/p>

  Investor Takeaways Following the Director Interest Update<\/h2>

  For Ricegrowers Limited investors, director interest notices provide insight into insider activity and board engagement with company equity. Acquisitions via the Fee Sacrifice Plan differ from open-market purchases, reflecting structured remuneration choices rather than discretionary investment decisions. The immediate market impact of this disclosure is not publicly known.<\/p>

  Investors should monitor future filings for additional director participation, changes to the Fee Sacrifice Plan, or conversion events related to the B Class Share Rights held by Andrew Crane. Further details on the company’s remuneration and equity plans may be found in its annual and remuneration reports.<\/p>