Sandon Capital Director Kirsten Hannan Increases Holdings Through Dividend Reinvestment Plan at 74.93 Cents Per Share

Details of Kirsten Hannan’s 304-Share Acquisition via DRP on 30 June 2026

The company’s update confirms that director Kirsten Jane Hannan acquired 304 ordinary shares in Sandon Capital Investments Limited on 30 June 2026 through the issue of securities under the company’s Dividend Reinvestment Plan. This means the shares were issued in lieu of a cash dividend payment rather than purchased on-market. The DRP is a common mechanism offered by many listed companies allowing shareholders, including directors, to reinvest dividends directly into additional shares.

The previous disclosure for Ms Hannan was dated 2 June 2026, indicating this is a recent update following an earlier notice. The short interval between filings corresponds with the dividend payment cycle and the DRP issue date aligning with the June 2026 quarter end. No shares were disposed of in this transaction, which solely reflects an incremental increase in her shareholding.

Structure of the Hannan Family Superannuation Fund’s Holding in SNC Shares

The 304 shares were acquired indirectly by Ms Hannan through a custodial and trustee arrangement. HUB24 Custodial Services Limited acts as custodian, holding the shares on behalf of G & K Hannan Pty Ltd, which serves as trustee of the Hannan Family Superannuation Fund. Ms Hannan is a director of the trustee company, giving her relevant interest in the shares under the Corporations Act and ASX Listing Rules.

This indirect holding structure is common among Australian directors and executives, where superannuation funds and related entities are often used as investment vehicles. The transparency of the disclosure is maintained, as ASX Listing Rule 3.19A.2 and section 205G of the Corporations Act require directors to notify the exchange of any changes in their relevant interests, whether held directly or indirectly.

Share Issue Price of $0.74930 and Its Significance for SNC’s DRP

The 304 shares were issued at $0.74930 each under the Dividend Reinvestment Plan. This price serves as a reference for the DRP issue price for the June 2026 dividend. DRP prices are typically based on a volume-weighted average price (VWAP) of the company’s shares over a specified period, sometimes with a small discount to encourage participation.

The total value of this reinvestment is approximately $227.79, although the company did not disclose the total dividend amount received by Ms Hannan. Investors and analysts tracking Sandon Capital’s capital structure may consider the DRP issue price indicative of the company’s share valuation around the end of June 2026. Public information did not clarify any immediate impact on the share price.

Ms Hannan’s Indirect Holding in Sandon Capital Now Totals 48,922 Shares

Following the DRP issue, Ms Hannan’s indirect holding increased from 48,618 to 48,922 ordinary shares, a net addition of 304 shares as disclosed in Part 1 of the Appendix 3Y filing. No other securities were mentioned, and Part 2 of the notice concerning changes in director interests in contracts was marked not applicable.

While the number of shares acquired is modest relative to overall market activity, cumulative DRP participation over multiple dividend cycles can gradually enhance a director’s economic exposure. Tracking director holdings across successive Appendix 3Y filings offers insight into how board members position themselves in relation to company performance over time.

Sandon Capital’s Dividend Reinvestment Plan as a Capital Management Strategy

Sandon Capital Investments Limited operates a Dividend Reinvestment Plan, as evidenced by this and prior director notices. DRPs enable the company to retain cash that would otherwise be paid as dividends while expanding its equity base. For a listed investment company focused on activist and value investing strategies, retaining capital within the fund supports ongoing investment activities.

Director participation in the DRP is generally seen positively by the market, signaling a preference to reinvest dividends rather than receive cash. However, DRP participation does not necessarily indicate a director’s view on short-term share price movements; it may reflect a long-term approach to compounding returns within a superannuation structure. The company did not disclose the overall DRP participation rate or total shares issued under the plan in this update.

No Closed Period Trading Issues in the SNC Director Notice

Part 3 of the Appendix 3Y notice confirms the shares were not traded during a closed period requiring prior written clearance. This compliance point is important as ASX Listing Rules and company policies restrict trading by directors and key personnel during sensitive times, such as financial results announcements or material events.

Because the shares were issued under the DRP rather than acquired on-market, closed period restrictions are generally not applicable. DRP issues are typically not considered discretionary trades like on-market purchases or sales. The explicit confirmation that no closed period applied and no clearance was required ensures a clean compliance record for this transaction.

Insights on Sandon Capital’s Governance from This Director Disclosure

The timely lodgement of the Appendix 3Y notice following the 30 June 2026 DRP issue demonstrates Sandon Capital’s commitment to transparent director disclosures under ASX Listing Rules. Companies must file these notices promptly after becoming aware of changes in directors’ relevant interests. The previous notice for Ms Hannan was dated 2 June 2026, indicating regular updates aligned with corporate events such as dividend payments.

For both retail and institutional investors, director interest notices contribute to assessing corporate governance quality. A director who consistently participates in the DRP and maintains meaningful indirect shareholdings through a superannuation fund shows long-term commitment to company success. Sandon Capital, as an activist listed investment company, emphasizes shareholder alignment, making director shareholding disclosures particularly relevant to its investor base.

Investor Takeaways Following the SNC Director Interest Update

Investors tracking Sandon Capital Investments Limited should note this disclosure within the context of the company’s dividend and distribution history. The availability and use of the DRP for the June 2026 period confirm a dividend was declared and paid, although specific dividend amounts and record/payment dates were not disclosed here. Such details are typically found in separate dividend announcements or Appendix 3A.1 filings.

Looking forward, key upcoming milestones for Sandon Capital investors include the release of full-year financial results, updated net tangible asset (NTA) disclosures, and further information on portfolio positioning and activist investment activities. Director interest notices like this one, while administrative, provide useful data points for monitoring insider alignment over time. Investors closely following Sandon Capital may continue to watch for further Appendix 3Y filings from Ms Hannan and other directors as future dividend cycles proceed.