Saferoads Holdings Limited ( (AU:SRH) ) has provided an announcement.
Saferoads Holdings Limited has announced the sale of its Road Safety Rental business to Onsite Rentals Group for $10.8 million, pending shareholder approval and other conditions. The transaction, expected to complete on May 1, 2025, will result in a profit of approximately $4.6 million and a significant reduction in overheads, allowing Saferoads to focus on its core product manufacturing and sales business. The company plans to pay a 10-cent per share dividend to shareholders and will use the remaining cash to bolster working capital and fulfill a $3 million product order from Onsite.
More about Saferoads Holdings Limited
Saferoads Holdings Limited operates in the road safety industry, focusing on the manufacturing and sales of road safety products. The company is known for its strong portfolio of intellectual property and is committed to enhancing its capital value and expanding its sales workforce.
YTD Price Performance: -2.44%
Technical Sentiment Signal: Buy
Current Market Cap: A$1.75M
For an in-depth examination of SRH stock, go to TipRanks’ Stock Analysis page.