Overview
- Australia’s corporate regulator ordered Accent to preserve emails and devices for CEO Daniel Agostinelli, director Michael Hapgood and a senior staffer as it probes share trades from May 23 to June 10, 2025.
- Documents show Agostinelli’s 2Como trust sold 800,712 shares on May 27–28 at about $1.86 each, or roughly $1.49 million, before a sharp mid‑June price slide.
- Accent cut its half‑year profit outlook to $23–28 million from up to $35 million, citing weaker sales and margins linked to higher fuel costs and lower confidence during the war in Iran.
- The company plans a major savings program, with details due May 13, that could close stores and cost jobs.
- Management says the CEO’s trades were pre‑approved by then chair David Gordon and that the board supports him, and ASIC said the notice does not suggest any law was broken; the shares fell 12.9% to 53.5 cents in late trade.