SKS TECHNOLOGIES GROUP LIMITED — Board/Management Information 2016

Mar 7, 2016

STOKES STRENGTHENS LEADERSHIP TEAM

8 March 2016, Melbourne: Stokes Limited (ASX:SKS) has restructured its executive leadership team to accommodate the major changes to the business over the past two years due to the sale of the appliance business and the rapid growth of the company’s technologies division.

Non executive chairman Peter Jinks will become executive chairman and managing director. Peter’s previous experience in the technologies business will be invaluable in organically growing this business.

Greg Jinks will continue as executive director with the prime responsibility of sales.

Current managing director Con Scrinis will take on the role of executive director responsible for corporate activity including mergers & acquisitions.

Stokes will continue its growth of current activities and now look to its next phase of expansion via acquisition opportunities in its core lighting, audio visual and IT distribution businesses.

The company is determined to capture significant opportunities to provide critical mass while continuing the growth that currently underpins the business.

These management changes will expand and make better use of the skillset and effectiveness of the existing board and management team.

As detailed in Stokes’ half year report the companies technologies division has grown rapidly over the past 6 months with sales having increased 261% to $5.6 million and orders increasing by 370% to $8 million. The start to the second half has produced even more promising results with new orders of $4.7 million, and we expect sales for FY15/16 to reach approximately $15 million.

Further information:

Con Scrinis Executive Director

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