Aussie Broadband Discloses Director Share Sale and Secured Share Position

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

Aussie Broadband has disclosed a change in managing director Phillip Britt’s interests, with an associated entity, Digital Interworks Pty Ltd, selling 500,000 Aussie Broadband ordinary shares in an on-market trade at an average price of $5.00 per share. Following the sale, Digital Interworks now holds 11,784,734 shares while Britt retains 898,435 options, and the company has reiterated that 4.5 million shares remain pledged as security for an ANZ loan tied to Britt’s community-focused fibre venture in Gippsland, which includes covenants that could trigger disposal of those secured shares if breached and not remedied.

The most recent analyst rating on (AU:ABB) stock is a Buy with a A$6.35 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 is an Australian telecommunications provider focused on broadband services. The company offers internet connectivity and related solutions to residential and business customers across Australia, operating in a competitive national telco and broadband market.

Average Trading Volume: 1,157,283

Technical Sentiment Signal: Buy

Current Market Cap: A$1.5B

For a thorough assessment of ABB stock, go to TipRanks’ Stock Analysis page.