No announcements about the drop, page-3

If you look at the announcement relating to the Directors sale of shares (dated March 13) it advises...

Mr Agostinelli has sold 2,747,223 fully paid ordinary shares of the Company in order to meet the tax obligations arising from the vesting (and subsequent conversion into fully paid ordinary shares) of 2,750,000 performance rights in November 2022, which were granted to him under Accent Group’s Performance Rights Plan.

The details of the sale are further disclosed in the accompanying Appendix 3Y.Following this transaction, Mr Agostinelli continues to hold a significant interest in the Company’s securities, comprising 18,003,001 ordinary shares representing 3.26% of the Company’s total issued capital. He remains one of the Company’s largest shareholders. Mr Agostinelli also holds 5,786,061 performance rights which are subject to meeting specific vesting conditions.

Sounds perfectly reasonable to me.