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EchoIQ Director Steve Formica Sees Lapse of 625,000 Performance Rights

Story Highlights
  • EchoIQ director Steve Formica reported a change in indirect interests held via related party entities.
  • A total of 625,000 performance rights lapsed with conditions unmet, reducing his performance rights holdings without affecting shares or options.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
EchoIQ Director Steve Formica Sees Lapse of 625,000 Performance Rights

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EchoIQ Limited ( (AU:EIQ) ) has provided an update.

EchoIQ Limited has disclosed a change in the interests of director Steve Formica, whose holdings are held indirectly through related party entities Stevsand Investments Pty Ltd and Formica Investments Pty Ltd. While the number of fully paid ordinary shares and unlisted options held on his behalf remains unchanged, 625,000 performance rights expiring on 31 March 2028 have lapsed because a specified condition could not be satisfied, reducing his total performance rights from 5,000,000 to 4,375,000, with no consideration involved in the change.

The most recent analyst rating on (AU:EIQ) stock is a Hold with a A$0.26 price target. To see the full list of analyst forecasts on EchoIQ Limited stock, see the AU:EIQ Stock Forecast page.

More about EchoIQ Limited

EchoIQ Limited is an ASX-listed company; the filing does not provide details on its industry, products, or market focus.

Average Trading Volume: 1,138,144

Technical Sentiment Signal: Strong Buy

Current Market Cap: A$165.8M

For a thorough assessment of EIQ stock, go to TipRanks’ Stock Analysis page.

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