Harmoney Corp Limited (ASX:HMY) announced that its founder, Neil Roberts, has sold 3.6 million shares, representing approximately 3.5% of the company’s issued shares. This partial selldown coincides with Roberts’ transition from his executive role as Chief Strategy Officer, effective July 1, 2025. Roberts, who served as CEO until 2019, will remain a non-executive director. Despite the sale, Roberts remains Harmoney’s largest single shareholder, holding approximately 15% of the company’s issued shares. He has indicated that he does not currently intend to sell any further shares within the next 12 months.
The Board of Harmoney has determined that Roberts may continue to participate in the Company’s Long Term Incentive Plan after he ceases to be an executive of the Company, so that Neil can continue to hold the 1,185,000 unvested Rights that have been previously granted to him under that Plan. These unvested rights will remain subject to vesting conditions. David Stevens, the current CEO & Managing Director, has led Harmoney for the past six years.
Harmoney operates a 100% consumer-direct personal lending platform across Australia and New Zealand. The company’s proprietary digital lending platform, Stellare®, facilitates fast and automated loan approvals, utilizing machine learning for credit decisioning and risk-based pricing. The company offers personal loans up to $100,000.
Harmoney’s business model is underpinned by its Stellare® technology, a diversified funding panel including major banks, and a focus on existing customer originations to minimize acquisition costs. The company issued its first asset backed securitisation in 2021, followed up with a $200m New Zealand asset backed securitisation in August 2023, both being publicly rated by Moody’s.
