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Scott Technology Limited ( (NZ:SCT) ) has issued an update.
Scott Technology has disclosed changes in directors’ relevant interests following the latest issue of ordinary shares under its Dividend Reinvestment Plan. Director Stuart McLauchlan increased his beneficial holding from 443,491 to 448,823 shares via Rosebery Holdings, while director Brent Eastwood’s associated interest, through majority shareholder JBS Australia, rose from 45,186,318 to 45,894,965 shares.
The disclosures confirm that all transactions arose from the issuance of new shares rather than on-market trading, meaning the company’s trading policy restrictions on closed-period dealings did not apply. The enlarged stakes for a board member and the majority shareholder underline continued support for the DRP and modestly consolidate existing control, with JBS Australia maintaining just over half of Scott Technology’s register.
More about Scott Technology Limited
Scott Technology Limited is a New Zealand-listed company that issues ordinary shares on the NZX and operates under the oversight of a board that includes representatives of major shareholder JBS Australia Pty Limited. The company offers a Dividend Reinvestment Plan, allowing shareholders to receive new SCT shares in lieu of cash dividends, which incrementally increases its equity base.
Average Trading Volume: 10,173
Technical Sentiment Signal: Hold
Current Market Cap: N$201.8M
For detailed information about SCT stock, go to TipRanks’ Stock Analysis page.