UBS ceases to be substantial shareholder in G8 Education

UBS Group AG and its related bodies corporate have ceased to be a substantial shareholder in G8 Education Limited (ASX: GEM), marking the latest movement in institutional ownership of one of Australia’s largest listed early childhood education and care providers.

The global financial services group notified the market that it ceased to be a substantial holder in G8 Education on 23 September 2026, according to a Form 605 substantial holding notice lodged with the Australian Securities Exchange (ASX).

The notification means UBS Group AG and its related bodies corporate no longer hold a relevant interest representing at least five per cent of the voting power in G8 Education for the purposes of Australia's substantial holding disclosure requirements.

Importantly, ceasing to be a substantial holder does not necessarily mean UBS no longer holds any G8 Education shares or exposure to the company. Rather, its disclosed relevant interest has fallen below the threshold requiring it to be reported as a substantial holder.

The accompanying transaction schedule details a series of changes in relevant interests on 23 September involving UBS entities.

These included purchases and sales of G8 Education ordinary shares through UBS Securities Australia Ltd, alongside considerably larger transactions described in the filing as stock being returned.

Among the transactions listed were a sale of 316,735 ordinary shares and a purchase of 337,646 shares.

The schedule also included stock-return transactions involving parcels of 10 million, five million, approximately 2.76 million and 1.568 million ordinary shares.

The scale of the stock-return activity is notable because it demonstrates that the change in UBS's disclosed relevant interest cannot be interpreted simply as an equivalent number of G8 shares being sold on market.

Institutional relevant interests can arise through a range of arrangements in addition to direct share ownership, making substantial holder disclosures an important but sometimes complex indicator of movements in institutional exposure.

UBS reported no changes to its associations as part of the notification.

For G8 Education, the latest filing therefore signals a change in the composition of the company's disclosed substantial shareholder base rather than, on its own, a change to the provider's operations or financial position.

G8 Education had 757.5 million shares on issue as at 31 December 2025 and trades on the ASX under the code GEM.

Institutional ownership movements are particularly relevant in the context of G8 Education because of the provider's scale within Australia's early childhood education and care sector.

As one of Australia's largest ECEC operators, G8's financial and operational performance is closely watched by investors as well as providers and other stakeholders across the sector.

The company released its 2026 half-year results on 25 August, making the latest substantial holder movement part of a period in which the market continues to assess G8's performance and strategic direction.

Substantial holder notices should not, however, be treated in isolation as evidence of investor sentiment or confidence in a company. Institutional holdings can change for numerous reasons, including portfolio rebalancing, trading activity and changes to financial arrangements.

For the ECEC sector, the disclosure is nevertheless another useful indicator of activity surrounding one of its largest listed operators and highlights the increasing relevance of capital markets and institutional investment to Australia's early education landscape.

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