SKS Technologies share sale announcement

SKS Technologies Group (ASX:SKS) has revealed that Executive Chairman Peter Jinks and Executive Director Greg Jinks have each sold 3 million shares in an on-market transaction. This move marks their first share sale since 2012 and is aimed at boosting the availability of SKS shares in the market.

Implications and outlook for SKS Technologies

The announcement by SKS Technologies regarding the share sale by the Jinks family is a strategic move to improve market conditions for the company's stock. By increasing liquidity, the company aims to draw in a broader range of investors. Despite this sale, the Jinks family maintains a substantial investment in the company and has agreed not to sell further shares until post-FY25 audited accounts, ensuring market stability. SKS Technologies is experiencing robust cash flow with a significant increase in cash balance, and all creditor payments are up to date. The company is on track to meet its FY25 revenue target of $260 million and a net profit before tax of $17 million, demonstrating a commitment to delivering shareholder value through continued profitable growth.

Executive insights on share sale

The sale aims to increase the availability of SKS Technologies' stock in the market, enhancing trading activity and liquidity, which is expected to attract a wider investor base and maintain steady growth in investor interest and confidence. Despite the share sale, the Jinks family retains a significant holding and has committed to not selling additional shares until after the release of the audited full-year FY25 accounts.