Codan director Alfonso Ianniello adjusts holdings amid share issues

Codan Limited announced changes to director Alfonso Ianniello's holdings, effective August 29, 2025. Ianniello disposed of 40,714 performance rights due to lapsing from FY23, while acquiring 31,613 new ordinary shares issued at AUD 29.84 as part of the FY25 STI. Following these adjustments, Ianniello's direct holdings now include 234,194 performance rights and an increased 106,889 ordinary shares in the A & M Ianniello Family A/C, alongside 27,120 ordinary shares held in the Symetry Personal Retirement Fund Custody Shares Account.

Simultaneously, Codan confirmed the cessation of 235,961 performance rights due to unmet performance hurdles, effective August 25, 2025. The company also announced the quotation of 175,000 new ordinary fully paid shares issued on August 29, 2025, to the Codan Employee Share Plan Trust. These new shares, issued for a cash consideration of AUD 29.84 each, result from the conversion of performance rights held by key management personnel, including Scott Andrew French and Stephen Paul Sangster.

Following these transactions, Codan Limited's total quoted ordinary shares now stand at 181,745,842, while unquoted performance rights are 1,220,783. The changes reflect both director-specific interest adjustments and broader employee incentive plan conversions.