Excerpt.....

However, there is a legitimate reason for this insider selling.

The release notes:

Following JLG’s acquisition of Reconstruction Experts (RE), effective 1 January 2022, and Mr Didier’s appointment to Group CEO, Mr Didier now co-resides between Melbourne and Denver Colorado, the headquarters of the RE business, to oversee and manage the growth of JLG in the USA. This share sale has been undertaken to fund Mr Didier’s relocation and living expenses, including the acquisition of a family home in Denver Colorado, along with certain tax liabilities.

The company also highlights that Didier remains a significant shareholder, with this sale representing just ~7.5% of his holding. As a result, the CEO still has 49,314,825 shares, which represents a 19% stake in the company. Mr Didier also informed the company that he remains a committed leader and shareholder.

He commented, I remain incredibly proud of what JLG does every day in Australia and now in the US. The continued flood events in Australia and with events such as Hurricane Ian in Florida have demonstrated what a critical role we play in the catastrophe management chain now globally. We have been honoured to support Australian communities to rebuild following natural disasters and are proud to be able to continue this contribution

Following JLG’s acquisition of Reconstruction Experts (RE), effective 1 January 2022, and Mr Didier’s appointment to Group CEO, Mr Didier now co-resides between Melbourne and Denver Colorado, the headquarters of the RE business, to oversee and manage the growth of JLG in the USA. This share sale has been undertaken to fund Mr Didier’s relocation and living expenses, including the acquisition of a family home in Denver Colorado, along with certain tax liabilities.