Vulcan Steel explains director share sale disclosure delay

Vulcan Steel Limited (Vulcan) has addressed a query from ASX Compliance regarding the late submission of an Appendix 3Y form for director Adrian Casey. The notice, lodged on November 14, 2025, for a change in interest on November 6, 2025, exceeded the five-business-day filing requirement, which would have been November 13, 2025. The delay was attributed to an administrative error where Mr. Casey's email confirmation of his 17,214 ordinary share sale failed to send, leading to a late discovery of the actual trade date.

The company stated that Mr. Casey received consent to sell his shares on November 6, 2025. Upon discovering the discrepancy and receiving the correct contract sale note on November 14, 2025, the Appendix 3Y was immediately lodged. Vulcan's Securities Trading Policy mandates directors to provide notice within three business days of any relevant event.

To prevent future incidents, Vulcan plans to implement new measures, including sending directors reminders within two working days of trade consent and conducting a training session for the board in early 2026 on director obligations under ASX Listing Rules. The company confirmed that all other 11 Appendix 3Ys filed in 2025 were lodged within the prescribed timeframe.