Jinks family sale clears SKS stock while keeping majority position
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10:18am on Wednesday 7th of October, 2026 AEDT ~10am, 7th Oct, 26
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SKS Technologies’ Jinks family has sold 10 million shares in an on-market crossing, but will retain about 21% of the company and says no further sales are planned for the foreseeable future. The company also reaffirmed FY27 expectations of approximately $500 million in revenue and $60 million in PBT.
- 10.0 million shares sold by the Jinks family
- Family retains approximately 21% and remains SKS’s majority shareholder
- No further sales intended for the foreseeable future
- FY27 revenue expectation of approximately $500 million
- FY27 PBT expectation of approximately $60 million
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Jinks Family Reduces Holding Without Surrendering Control
SKS Technologies Group Limited (ASX:SKS) has put a sizeable block of insider stock into the market, with Executive Chairman Peter Jinks, Executive Director Greg Jinks and an associated entity of Matthew Jinks completing an on-market sale of 10.0 million shares.
The transaction represents about 30% of the Jinks family’s total SKS holding. The company said the sale reflected strong inbound investor interest, supported share marketability and liquidity, and provided wealth diversification for the vendors. The sale price and gross proceeds were not disclosed.
Despite the disposal, the Jinks family will retain approximately 21% of SKS and remain the company’s majority shareholder, according to the announcement. Peter and Greg Jinks will continue as executive directors, while the family has stated that it has no intention of making further sales for the foreseeable future.
FY27 Targets Restated Amid Expanding Data Centre Work
The share sale arrives as SKS reiterates an ambitious operating plan. Following its FY26 results and FY27 guidance, the board said it considers revenue of approximately $500 million and PBT of $60 million reasonable expectations for the current financial year, supported by expanded bank facilities and strong cash and working capital positions. The figures remain expectations rather than reported results.
That outlook is being backed by a substantial project pipeline. SKS has just added $38 million of work to the MEL2 data centre project in Melbourne’s northwest, taking the project’s total contracted value to $66 million. The earlier SKS now reports approximately $270 million of work on hand, alongside a tender pipeline worth $1.69 billion at 30 June 2026. Those figures point to a sizeable pool of potential activity, but they do not by themselves establish the timing, margins or cash conversion of future work. The immediate investor question is whether the company can convert that pipeline into profitable delivery while maintaining the growth rate embedded in its FY27 targets.
Bottom Line?
The insider sale changes the share register, not the stated control position. The next test is whether SKS can turn its $270 million work on hand and large tender pipeline into the $500 million revenue and $60 million PBT expectations it has reaffirmed.
Questions in the middle?
- At what price were the 10.0 million shares sold, and how were the proceeds allocated among the vendors?
- Will the Jinks family’s retained 21% stake remain stable after the stated period without further sales?
- Can MEL2 and the broader tender pipeline support FY27 growth without diluting project margins or cash generation?
Sources
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Share Sale and Company Update (opens in a new tab)Official market announcement. Sks Technologies Group Limited · 7 Oct 2026 · sks.com.au
