Skellerup reports strong start to FY19

Speaking ahead of today's Annual Shareholders' Meeting, Skellerup Chair Liz Coutts said trading for Q1 of the current year generated EBIT in excess of 10% ahead of the comparable quarter in the prior year. Mrs Coutts said "We expect an improvement in profitability in FY19 with increased earnings in our Industrial Division offsetting the recent softening in international dairy markets and the uncertainty surrounding international trade." Skellerup also announced the introduction of a long-term incentive plan under which share options will initially be issued to David Mair and Graham Leaming (CFO) on 26 October 2018. Share options will be priced at the 20-day volume weighted market price for the period 27 September to 25 October 2018. One million (1,000,000) share options will be granted to Mair; Six hundred thousand (600,000) share options will be granted to Leaming. The share options will have a 2-year vesting period. For further information please contact: David Mair Chief Executive Officer 021 708 021 Graham Leaming Chief Financial Officer 021 271 9206 End CA:00325718 For:SKL Type:MKTUPDTE Time:2018-10-24 12:44:11