Domino’s Pizza Enterprises has responded to an inquiry from the Australian Securities Exchange (ASX) following a significant drop in its share price. The decline occurred after the company announced that its chief executive officer, Mark van Dyck, would be stepping down from his role in December. At one point, the share price plummeted by as much as 25 per cent.
The company acknowledged the ASX’s query, stating that it was not aware of any undisclosed information that could account for the recent trading activity in its securities. Domino’s Pizza Enterprises operates and franchises pizza restaurants. It is the largest pizza chain in Australia, serving a wide range of pizza and side dish options.
As of 3:30 PM AEST on Wednesday, the share price had partially recovered but was still down by 14 per cent. Domino’s maintained that the only explanation it could offer for the trading activity was the market announcement regarding the leadership transition that was publicly released on Wednesday.
Domino’s reassured the ASX that it adheres to its continuous disclosure obligations and remains committed to keeping the market informed of any material information. The company will continue to monitor its share price and trading activity.
