Gandel reduces stake in Alkane Resources

Ian Jeffrey Gandel has decreased his substantial holding in Alkane Resources Limited, with his voting power falling from 8.15% to 6.39%. This change occurred on October 1, 2025, primarily through an on-market sale of 24,000,000 ordinary shares for A$26,658,240.00.

Additionally, a dilution in Gandel's interest resulted from an increase in the total number of ordinary shares on issue following the vesting of 917,304 ordinary shares from performance rights. The previous notice of Gandel's substantial holding was given on August 6, 2025.

Post-change, Gandel's total votes in Alkane Resources stand at 87,228,277 ordinary shares. These holdings are primarily indirect, held through entities such as Abbotsleigh Proprietary Limited and various ILG Estate Co Pty Ltd vehicles, where Gandel maintains directorship and shareholder interests.