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Genedrive zips higher as chairman snaps up £10,000 worth of shares

Ian Gilham bought 51,250 shares at 19p apiece on Tuesday

buying shares
Gilham has been chairman since November 2014

Genedrive PLC (LON:GDR) chairman Ian Gilham has invested £10,000 of his own money into the diagnostic devices maker.

The company confirmed on Thursday morning that Gilham, who has been chairman for five years, bought 51,250 shares at an average price of 19p per share.

The purchase takes his total stake up to 0.93%.

Investors tend to like it when directors back their own companies, taking it as a show of faith in the business' future. 

Shares jumped 7.7% to 18.9p on Thursday morning, valuing the company at £6.4mln.

--Adds share price--

 

Quick facts: Genedrive PLC

Price: 118 GBX

AIM:GDR
Market: AIM
Market Cap: £61.34 m
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