Cellmid Limited's (ASX:CDY) directors have demonstrated their faith in the company's strategy by participating in a recent share purchase plan (SPP).
The share purchase plan (SPP) was closed on October 14 after raising $1.044 million, well in excess of the $500,000 originally targeted by the board.
The SPP at 20 cents per share followed a placement to sophisticated and institutional investors which raised $1.5 million.
Change of directors interest
Chairman David King acquired 300,000 fully paid ordinary shares valued at $60,000, bringing the total number held in an indirect interest to 1.4 million while he also holds another 300,000 in a direct interest.
Non-executive director Bruce Gordon acquired 50,000 shares valued at $10,000, increasing his total number of securities to 160,000 in an indirect interest.
Fellow non-executive director Dr Martin Cross acquired 150,000 shares valued at $30,000 and he now holds 325,000 shares in an indirect interest.
In the SPP, CellmRead More – Source
