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Ricegrowers Limited (ASX:SGL) has reported an update to the relevant interests of non-executive director Luisa Catanzaro, who acquired 1,436 B Class Share Rights on 26 June 2026. These securities were issued under the company’s Non-executive Directors’ Fee Sacrifice B Class Share Acquisition Plan, which allows eligible directors to exchange board fees for B Class Share Rights. The transaction was valued at approximately $19,989.98, using a volume-weighted average price (VWAP) of $13.9206 per B Class Share Right. This update highlights ongoing director involvement in the fee sacrifice plan, aligning non-executive directors’ interests with those of shareholders.<\/p> <\/div>
Key Points<\/h3>
- Company: Ricegrowers Limited (ASX:SGL)<\/li>
- Non-executive director Luisa Catanzaro acquired 1,436 B Class Share Rights on 26 June 2026<\/li>
- Acquisition made under the Non-executive Directors’ Fee Sacrifice B Class Share Acquisition Plan<\/li>
- Transaction valued at $19,989.98 based on a VWAP of $13.9206 per B Class Share Right<\/li>
- Catanzaro’s direct holding of B Class Shares remains at 18,775, with an additional 1,436 B Class Share Rights now held<\/li>
- No securities were sold; the transaction occurred outside any closed trading period<\/li>
- Further disclosures of director participation in the fee sacrifice plan may be expected in future reports<\/li>
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Luisa Catanzaro’s Updated Holdings in Ricegrowers Limited B Class Securities<\/h2>
As detailed in the Appendix 3Y lodged with the ASX for Ricegrowers Limited, non-executive director Luisa Catanzaro held 18,775 B Class Shares prior to the transaction dated 26 June 2026. Following the acquisition of 1,436 B Class Share Rights, her total direct interest now includes the unchanged 18,775 B Class Shares plus the newly acquired Share Rights.<\/p>
The filing specifies this as a direct interest with no indirect or third-party holdings involved. No disposals of securities occurred, indicating a net increase in Catanzaro’s exposure to Ricegrowers Limited equity. The company did not provide further commentary on her broader investment strategy in this announcement.<\/p>
Overview of Ricegrowers Limited’s Non-Executive Directors’ Fee Sacrifice Plan<\/h2>
The B Class Share Rights obtained by Catanzaro were issued under the Non-executive Directors’ Fee Sacrifice B Class Share Acquisition Plan. This plan permits non-executive directors to forgo a portion of their board fees in exchange for B Class Share Rights. Such arrangements are recognised within Australian corporate governance frameworks as a means for directors to convert cash remuneration into equity-linked securities.<\/p>
This fee sacrifice plan aligns non-executive directors’ financial interests with shareholders by increasing their equity exposure. The plan does not impose a conventional cash cost on the company, as the Share Rights are granted instead of cash fees. The exact proportion of fees sacrificed by Catanzaro was not disclosed.<\/p>
Valuation of the 26 June 2026 Share Rights Acquisition Using VWAP<\/h2>
The 1,436 B Class Share Rights were valued at $19,989.98, calculated using a VWAP of $13.9206 per Share Right. VWAP, or volume-weighted average price, is a common pricing method in equity plans and off-market transactions, reflecting the weighted average trading price over a specified period.<\/p>
This approach ensures a transparent, market-based valuation for the fee sacrifice consideration, aligning the remuneration foregone with prevailing market prices for Ricegrowers Limited’s B Class securities. The filing did not specify the VWAP calculation period.<\/p>
B Class Share Structure at Ricegrowers Limited<\/h2>
Ricegrowers Limited operates a dual-class share structure including B Class Shares, which are listed on the ASX under ticker SGL. These B Class Shares provide equity exposure to non-grower investors and certain directors, distinct from A Class Shares held by rice grower-shareholders with different rights under the company constitution.<\/p>
The B Class Share Rights acquired by Catanzaro represent rights to acquire B Class Shares rather than immediate share ownership. The filing did not disclose vesting or conversion conditions such as performance criteria, service requirements, or vesting schedules. Investors interested in the full terms of the fee sacrifice plan should consult the company’s remuneration disclosures or annual report.<\/p>
Timeline and Previous Disclosures Regarding Catanzaro’s Holdings<\/h2>
The Appendix 3Y notes the last director interest notice for Luisa Catanzaro was lodged on 30 January 2026. The current filing dated 26 June 2026 updates her relevant interests in Ricegrowers Limited securities. The roughly five-month gap aligns with the periodic nature of fee sacrifice plan allocations.<\/p>
Before this transaction, Catanzaro held 18,775 B Class Shares and no B Class Share Rights. The 26 June 2026 acquisition marks her first recorded holding of B Class Share Rights under the plan since the January notice. The company did not indicate if prior Share Rights had been converted to shares.<\/p>
Transaction Confirmed Outside Closed Trading Period<\/h2>
The Appendix 3Y confirms the securities transaction did not occur during a closed period requiring prior written clearance, complying with ASX Listing Rule 3.19A.2. Closed periods typically precede half-year or full-year financial results releases, restricting trading by directors and insiders with material non-public information.<\/p>
This confirmation shows the issuance took place within a permitted trading window under Ricegrowers Limited’s securities trading policy.<\/p>
Implications of Director Participation in Share Acquisition Plans for Shareholders<\/h2>
Director involvement in fee sacrifice share acquisition plans is generally viewed positively by the market, indicating non-executive directors’ willingness to increase equity exposure rather than receive full cash fees. Such participation may reflect confidence in the company’s long-term value, although it can also be motivated by tax planning or remuneration structuring.<\/p>
For shareholders, the ongoing operation of Ricegrowers Limited’s Non-executive Directors’ Fee Sacrifice B Class Share Acquisition Plan and Catanzaro’s engagement with it signal alignment between board interests and B Class security performance. The announcement did not reveal any immediate share price impact, as such disclosures are routine and typically lack material operational or financial information.<\/p>
Ricegrowers Limited’s Business Overview<\/h2>
Ricegrowers Limited is an Australian agribusiness focused on rice production, processing, marketing, and distribution. Structured as a grower-owned cooperative-style entity, it has listed B Class Shares on the ASX under ticker SGL. The company markets well-known consumer rice brands domestically and internationally.<\/p>
No operational, financial guidance, or strategic updates accompanied this director interest notice. The filing solely addresses the statutory disclosure of changes in director relevant interests as required by ASX Listing Rule 3.19A.2 and section 205G of the Corporations Act. Investors seeking broader company information should refer to Ricegrowers Limited’s latest financial reports and investor communications.<\/p>
Regulatory Requirements Under ASX Listing Rule 3.19A.2 and Corporations Act Section 205G<\/h2>
The Appendix 3Y form used here is mandated by ASX Listing Rule 3.19A.2, which requires listed entities to notify the ASX promptly of any changes in a director’s relevant interests in securities. This rule promotes transparency and investor confidence through standardised reporting.<\/p>
Section 205G of the Corporations Act 2001 (Cth) complements these requirements by imposing a statutory duty on companies to notify the ASX of director interest changes within prescribed timeframes. Together, these regulations ensure consistent, timely reporting of director transactions—including market trades, off-market dealings, and plan-based issuances like the current transaction. Investors can monitor future Appendix 3Y filings from Ricegrowers Limited for updates on director holdings and fee sacrifice plan activity.<\/p>
Luisa Catanzaro’s Updated Holdings in Ricegrowers Limited B Class Securities<\/h2>
As detailed in the Appendix 3Y lodged with the ASX for Ricegrowers Limited, non-executive director Luisa Catanzaro held 18,775 B Class Shares prior to the transaction dated 26 June 2026. Following the acquisition of 1,436 B Class Share Rights, her total direct interest now includes the unchanged 18,775 B Class Shares plus the newly acquired Share Rights.<\/p>
The filing specifies this as a direct interest with no indirect or third-party holdings involved. No disposals of securities occurred, indicating a net increase in Catanzaro’s exposure to Ricegrowers Limited equity. The company did not provide further commentary on her broader investment strategy in this announcement.<\/p>
Overview of Ricegrowers Limited’s Non-Executive Directors’ Fee Sacrifice Plan<\/h2>
The B Class Share Rights obtained by Catanzaro were issued under the Non-executive Directors’ Fee Sacrifice B Class Share Acquisition Plan. This plan permits non-executive directors to forgo a portion of their board fees in exchange for B Class Share Rights. Such arrangements are recognised within Australian corporate governance frameworks as a means for directors to convert cash remuneration into equity-linked securities.<\/p>
This fee sacrifice plan aligns non-executive directors’ financial interests with shareholders by increasing their equity exposure. The plan does not impose a conventional cash cost on the company, as the Share Rights are granted instead of cash fees. The exact proportion of fees sacrificed by Catanzaro was not disclosed.<\/p>
Valuation of the 26 June 2026 Share Rights Acquisition Using VWAP<\/h2>
The 1,436 B Class Share Rights were valued at $19,989.98, calculated using a VWAP of $13.9206 per Share Right. VWAP, or volume-weighted average price, is a common pricing method in equity plans and off-market transactions, reflecting the weighted average trading price over a specified period.<\/p>
This approach ensures a transparent, market-based valuation for the fee sacrifice consideration, aligning the remuneration foregone with prevailing market prices for Ricegrowers Limited’s B Class securities. The filing did not specify the VWAP calculation period.<\/p>
B Class Share Structure at Ricegrowers Limited<\/h2>
Ricegrowers Limited operates a dual-class share structure including B Class Shares, which are listed on the ASX under ticker SGL. These B Class Shares provide equity exposure to non-grower investors and certain directors, distinct from A Class Shares held by rice grower-shareholders with different rights under the company constitution.<\/p>
The B Class Share Rights acquired by Catanzaro represent rights to acquire B Class Shares rather than immediate share ownership. The filing did not disclose vesting or conversion conditions such as performance criteria, service requirements, or vesting schedules. Investors interested in the full terms of the fee sacrifice plan should consult the company’s remuneration disclosures or annual report.<\/p>
Timeline and Previous Disclosures Regarding Catanzaro’s Holdings<\/h2>
The Appendix 3Y notes the last director interest notice for Luisa Catanzaro was lodged on 30 January 2026. The current filing dated 26 June 2026 updates her relevant interests in Ricegrowers Limited securities. The roughly five-month gap aligns with the periodic nature of fee sacrifice plan allocations.<\/p>
Before this transaction, Catanzaro held 18,775 B Class Shares and no B Class Share Rights. The 26 June 2026 acquisition marks her first recorded holding of B Class Share Rights under the plan since the January notice. The company did not indicate if prior Share Rights had been converted to shares.<\/p>
Transaction Confirmed Outside Closed Trading Period<\/h2>
The Appendix 3Y confirms the securities transaction did not occur during a closed period requiring prior written clearance, complying with ASX Listing Rule 3.19A.2. Closed periods typically precede half-year or full-year financial results releases, restricting trading by directors and insiders with material non-public information.<\/p>
This confirmation shows the issuance took place within a permitted trading window under Ricegrowers Limited’s securities trading policy.<\/p>
Implications of Director Participation in Share Acquisition Plans for Shareholders<\/h2>
Director involvement in fee sacrifice share acquisition plans is generally viewed positively by the market, indicating non-executive directors’ willingness to increase equity exposure rather than receive full cash fees. Such participation may reflect confidence in the company’s long-term value, although it can also be motivated by tax planning or remuneration structuring.<\/p>
For shareholders, the ongoing operation of Ricegrowers Limited’s Non-executive Directors’ Fee Sacrifice B Class Share Acquisition Plan and Catanzaro’s engagement with it signal alignment between board interests and B Class security performance. The announcement did not reveal any immediate share price impact, as such disclosures are routine and typically lack material operational or financial information.<\/p>
Ricegrowers Limited’s Business Overview<\/h2>
Ricegrowers Limited is an Australian agribusiness focused on rice production, processing, marketing, and distribution. Structured as a grower-owned cooperative-style entity, it has listed B Class Shares on the ASX under ticker SGL. The company markets well-known consumer rice brands domestically and internationally.<\/p>
No operational, financial guidance, or strategic updates accompanied this director interest notice. The filing solely addresses the statutory disclosure of changes in director relevant interests as required by ASX Listing Rule 3.19A.2 and section 205G of the Corporations Act. Investors seeking broader company information should refer to Ricegrowers Limited’s latest financial reports and investor communications.<\/p>
Regulatory Requirements Under ASX Listing Rule 3.19A.2 and Corporations Act Section 205G<\/h2>
The Appendix 3Y form used here is mandated by ASX Listing Rule 3.19A.2, which requires listed entities to notify the ASX promptly of any changes in a director’s relevant interests in securities. This rule promotes transparency and investor confidence through standardised reporting.<\/p>
Section 205G of the Corporations Act 2001 (Cth) complements these requirements by imposing a statutory duty on companies to notify the ASX of director interest changes within prescribed timeframes. Together, these regulations ensure consistent, timely reporting of director transactions—including market trades, off-market dealings, and plan-based issuances like the current transaction. Investors can monitor future Appendix 3Y filings from Ricegrowers Limited for updates on director holdings and fee sacrifice plan activity.<\/p>
