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    MaxiPARTS (ASX:MXI) announces full year results

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    MaxiPARTS (ASX:MXI) announced financial results for the full-year ended 30 June 2022.

    The business ended the year with a closing cash balance of $11.9m and a positive net cash/debt position of $1.9m.

    Cash received from the sale of the Trailer solutions business and associated properties ($30.5m).

    Payment of a 62.5 cent special dividend ($22m).

    Renegotiation of the Group's debt facility post the Trailer sale with a net debt reduction of ($7.25m) in the year (new $10m facility in place).

    Capital raising to fund the Truckzone acquisition ($23.7m net of fees).

    Acquisition of the Truckzone business ($18.3m).

    Following the announcement the company?s share price rose 2.752%.

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