Co-CEOs ●Afterpay Co-CEOs and Executive Directors, Anthony Eisen and Nick Molnar have announced today plans to each establish Private Ancillary Funds (PAF) for charitable purposes. ●While still in early stages of setting up the Funds, Anthony and Nick each intend to transfer approximately 950,000 APT shares into their respective PAF from their personal shareholdings ●The Co-CEOs have also indicated their intention to sell down a small portion of their holdings (up to 450,000 shares each) consistent with the Afterpay Securities Trading Policy. Proceeds from the sale will in part be used to fund a cash contribution to the founders’ respective Private Ancillary Funds. ●The Co-CEOs and related entities will still maintain voting rights and control over the shares transferred to the PAF and the PAF intends to maintain its investment in Afterpay over the long term. ●Any future transfer of shares by Anthony and Nick to their PAF will be undertaken in accordance with the requirements of Afterpay’s Securities Trading Policy. Protocols consistent with that policy will also apply to any sale of APT shares by (or on behalf of) a PAF.
APT Price at posting:
$121.10 Sentiment: Hold Disclosure: Held
