Recently, Xero Ltd.’s Givia to sell entire shareholding over next 10 years

Winkler has reduced his shareholding to 10.5% (from 12.7%) to fund his private charitable trust. Winkler is a Director of Givia, the trustee for a private charitable trust and remains Xero’s second largest individual shareholder (via Givia) after Xero’s CEO, Rod Drury. Further, Winkler has informed Xero that he will seek to distribute 100% of Givia’s assets over approximately a 10-year time frame. Over that period, Givia will sell its portfolio holdings, including Xero shares, to fund its charitable giving, and stated its intention to manage its shareholding sale processes in order to minimize impact on the market. During FY17, the company’s operating revenue grew by 43% to $295.4 million (51% rise when excluding currency movements) while the subscription revenue surged 44%. Further, there was an improvement in net loss after tax to $69.1 million from $82.5 million in FY16 together with improvement in EBITDA loss and gross margin percentage. Notably, XRO has reported positive operating cash-flow for the first time in the second half of the year, and has $113.7 million of cash and short-term deposits.

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