Join our daily newsletter At The Bell to receive exclusive market insights
- Johns Lyng Group (JLG) advises Managing Director and CEO Scott Didier, along with Executive Director and COO Lindsay Barber, have both sold one million shares in the company
- The company said these shares were sold to manage their respective personal asset portfolios
- JLG is still assessing the financial impact of recent catastrophic events, including the floods
- However, it reconfirmed its earning guidance for FY22, with sales revenue expected to land at $802.4 million and EBITDA to and at $78.7 million
- Shares are trading 1.37 per cent lower at $6.14 each at 11:38 am AEST
Johns Lyng Group (JLG) has advised Managing Director and CEO Scott Didier, along with Executive Director and COO Lindsay Barber, have both sold one million shares in the company.
The company said these shares were sold to manage their respective personal asset portfolios. At a price of $6.25 per share, the sale netted Mr Didier and Mr Barber a payday of $6.25 million each.
It represents a small percentage of their holdings with John Lyng, which remains their main asset. Following completion of the transaction, Mr Didier owns around 53.3 million shares, or 20.6 per cent of those on issue, while Mr Barber holds roughly 12.8 million, equal to 4.95 per cent.
Mr Didier said he has a high level of confidence in the company.
“I am incredibly proud of what JLG does every day in Australia and now in the US. The recent flood events have demonstrated how robust our business model is and what a critical role we play in the catastrophe management chain,” he said.
The company was recently selected as the Managing Contractor for a $142 million Government funded program to provide free structural assessments of eligible flood impacted properties.
It is still assessing the financial impact of recent catastrophic events, including the floods.
However, it reconfirmed its earning guidance for FY22, with sales revenue expected to land at $802.4 million and EBITDA to and at $78.7 million.
Shares were trading 1.37 per cent lower at $6.14 each at 11:38 am AEST.
