Embark strengthens majority holding in Mayfield Childcare

An amended substantial holding notice records voting power of 52.29%, following further on-market share purchases.

Embark Early Education Limited (ASX: EVO) has increased its voting power in Mayfield Childcare Limited (ASX: MFD) to 52.29%, strengthening its majority shareholding in the early childhood education and care provider.

An amended Form dated 9 October 2026 records Embark’s holding at 55,216,247 ordinary shares, out of 105,594,351 Mayfield shares on issue.

This compares with 37,564,512 shares and voting power of 49.8% in the previous substantial holding notice dated 12 March 2026.

The disclosure details three on-market acquisitions between 29 September and 8 October:

• 29 September: 250,000 shares purchased for $28,750.
• 7 October: 43,212 shares purchased for $5,401.50.
• 8 October: 2,332,719 shares purchased for $290,890.

Together, these transactions added 2,625,931 shares to Embark’s holding, for total consideration of $325,041.50.

The largest purchase occurred on 8 October, when Embark acquired more than 2.3 million shares.

The transactions increased Embark’s voting power beyond its earlier 49.8% position, taking its reported interest to 52.29%.

The notice also records Embark’s participation in Mayfield’s entitlement offer under the prospectus dated 3 August 2026.

Embark acquired 15,025,804 ordinary shares on 27 August for $1,502,580.40. According to the disclosure, this maintained its voting power at 49.8%.

The distinction is relevant when interpreting the increase. Participation in the entitlement offer expanded Embark’s share count while preserving its proportional voting interest. The subsequent on-market purchases increased that proportion.

Across the four transactions, Embark acquired 17,651,735 shares for approximately $1.83 million.

The amended notice confirms that Embark holds more than half of Mayfield’s voting shares.

It documents the ownership position but does not outline a new takeover proposal, an integration strategy or changes to centre operations, staffing, fees or educational programs.

Any implications for the future operation of the businesses would therefore need to be established through further company disclosures.

The notice was signed by Embark director Chris Scott. It lists a Helensvale, Queensland address for Embark and identifies Evolve Early Education Pty Ltd and Childcare Holdings Pty Ltd as associated entities.

Read the full ASX announcement here.