How Sprintex’s €15.6m Mest Water Order Could Reshape Its Future

Background and Disclosure Timeline

Sprintex Limited (ASX – SIX), an industrial machinery company specialising in compressor systems, has responded to an ASX inquiry regarding the disclosure of a material purchase order from Mest Water. The order, valued at €15.6 million (approximately AUD 27.4 million), was officially received on 23 December 2025, outside market hours.

Prior to the formal announcement, Sprintex had maintained a transparent communication trail with the market. Since July 2024, the company issued six updates outlining its evolving commercial relationship with Mest Water, including prototype deposits, order volume expectations, and commissioning progress. This sequence of disclosures helped set market expectations ahead of the binding purchase order.

Trading Halt and Market Reaction

Upon receipt of the purchase order at 1 – 02am Perth time on 23 December, Sprintex promptly requested a trading halt before the market opened that day. The halt lasted until 29 December 2025, when the company released the full details of the order. This cautious approach ensured that all investors had equal access to the material information before trading resumed.

The market responded positively, with Sprintex’s share price rising from a close of $0.06 on 22 December to an intraday high of $0.09 on 29 December, reflecting investor confidence in the company’s growth prospects tied to the Mest Water contract.

Compliance and Corporate Governance

Sprintex confirmed it considers the purchase order information material, as a reasonable person would expect it to affect the company’s securities price or value. The company affirmed full compliance with ASX Listing Rules 3.1 and 3.1A, which govern continuous disclosure obligations. The responses to the ASX’s detailed questions were authorised and approved by the board, underscoring Sprintex’s commitment to transparency and regulatory adherence.

This episode highlights the delicate balance companies must maintain between confidentiality during negotiations and timely market disclosure. Sprintex’s methodical approach, including multiple prior updates and a trading halt, exemplifies best practice in managing market-sensitive information.

Looking Ahead

While the purchase order represents a significant revenue milestone, investors will be watching closely for updates on order fulfillment, production timelines, and any operational challenges. The company’s ability to execute on this contract will be critical to sustaining investor confidence and translating this order into tangible financial results.