SKS Technologies Group Ltd (ASX:SKS) Announces Share Sale and Company Update
Executive Share Sale
SKS Technologies Group Limited (ASX: SKS) reports that Executive Chairman Peter Jinks and Executive Director Greg Jinks have sold 3,000,000 shares each in an on-market crossing. This sale is their first since acquiring shares in 2012 and represents a minor portion of the family’s total holdings.
The share sale’s primary goal is to enhance the availability of SKS stock in the market, thereby improving trading activity and liquidity. The company seeks to attract a more diverse investor base and foster continuous growth in investor interest and confidence. The Jinks family maintains a significant stake in the company and has committed to halting further share sales until the audited full-year FY25 accounts are released.
Company Financial Health
As of the end of November, SKS Technologies reported a robust cash balance of $17.32 million, reflecting a $13.95 million increase from the June 2024 figure. The company has demonstrated strong financial health, with all creditor payments made within terms, signalling ongoing improvements in working capital.
Matthew Jinks, Chief Executive Officer, affirmed the company’s confidence in achieving market guidance for FY25, projecting revenue of $260 million and a net profit before tax of 6.5%, equating to $17 million. The directors remain committed to delivering shareholder value through profitable growth initiatives.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Sks Technologies Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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