Aussie Broadband Director’s Share Disposal and Loan Agreement Update

Aussie Broadband Ltd. ( (AU:ABB) ) has provided an update.

Aussie Broadband Limited announced a change in the director’s interest, with Phillip Britt disposing of 350,000 ordinary shares and several options under the LTI Plan due to his resignation as Group Managing Director. Additionally, Digital Interworks Pty Ltd, where Britt holds significant voting power, has secured a loan with ANZ to fund a community-focused fibre venture, using 4,500,000 ABB ordinary shares as security. This move could impact the company’s financial structure and stakeholder interests, particularly if financial covenants are breached.

The most recent analyst rating on (AU:ABB) stock is a Buy with a A$4.20 price target. To see the full list of analyst forecasts on Aussie Broadband Ltd. stock, see the AU:ABB Stock Forecast page.

More about Aussie Broadband Ltd.

Aussie Broadband Limited operates in the telecommunications industry, providing broadband services and related telecommunications products. The company focuses on delivering high-speed internet services to residential and business customers across Australia.

Average Trading Volume: 881,636

Technical Sentiment Signal: Buy

Current Market Cap: A$1.23B

Find detailed analytics on ABB stock on TipRanks’ Stock Analysis page.