TPC Consolidated discloses director's option cancellation after delay

TPC Consolidated Limited (ASX:TPC) has revealed the cancellation of an off-market option over 533,300 ordinary shares previously held indirectly by director Chiao-Heng Huang through CTC SUPA Pty Ltd atf CTC Superfund. The cancellation occurred on June 27, 2025, with TPC Consolidated noting the Appendix 3Y notification was lodged later than the required timeframe under ASX Listing Rule 3.19A.2, attributing the delay to an administrative oversight.

The option, initially granted via an off-market deed dated February 26, 2021, involved the acquisition of shares from the director. The company stated that no option fee of $31,998 paid in 2021 was refunded upon cancellation. Following this change, Chiao-Heng Huang's interests now comprise 4,163,393 direct shares and 300,000 indirect shares held via Citicorp Nominees Pty Ltd as custodian for CTC SUPA Pty Ltd atf CTC Superfund.

TPC Consolidated, known for operating Australian electricity and gas retailer CovaU, confirmed it has procedures in place for timely director disclosures and has taken steps to further strengthen internal processes to prevent future administrative oversights.