WAM group ceases to be substantial Embark Early Education shareholder

Wilson Asset Management Group, encompassing entities such as WAM Microcap Limited, has ceased to be a substantial holder in Embark Early Education Limited (ASX: EVO). The group notified the market of this change on October 2, 2025, with the cessation effective from September 30, 2025. This follows a series of transactions, predominantly on-market sales, executed over more than a year.

The group's previous substantial holding notice was given and dated July 17, 2024. Key transactions leading to the cessation included a substantial on-market sell by WAM Microcap Limited on September 30, 2025, involving 10,947,208 ordinary shares for a consideration of $6,666,778.51. Other significant sales included 1,400,000 ordinary shares for $1,118,152.00 on October 18, 2024, and 840,512 ordinary shares for $641,930.75 on December 17, 2024.

WAM Microcap Limited also engaged in several on-market purchases, such as 2,220,395 ordinary shares for $1,687,500.20 on October 22, 2024, and 460,439 ordinary shares for $331,371.29 on August 8, 2024, indicating dynamic portfolio adjustments before the final divestment.