Electro Optic Systems slumps after CEO sells 1.5m shares
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The news: Shares in defence tech company Electro Optic Systems fell in morning trade after the company reaffirmed its CEO’s plans to divest shares, following earlier reporting by Capital Brief.
Shares were down 6.32% to $9.04 at 11:22am AEDT.
The context: The company said CEO Andreas Schwer sold 1.5 million shares on Thursday, reducing his total holding to 1,407,211 shares, valued at around $13.6 million.
Schwer advised the board that he does not plan to make further divestments before the next trading window, expected to open in mid-April 2026.
In addition to this, directors Gary Hounsell and Kate Lundy purchased 5,000 and 13,000 EOS shares respectively.
The source: ASX
