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XTEK directors demonstrate confidence in international ballistic strategy by participating in SPP

The company’s oversubscribed share purchase plan raised more than $2.884 million, taking capital raising proceeds to $9.2 million.

XTEK Ltd -
The capital raising helps XTEK execute its international ballistics strategy and accelerate future business growth

XTEK Ltd (ASX:XTE) directors have demonstrated their confidence in the company’s international ballistics strategy by participating in the SPP announced on August 13.

Following the completion of the SPP, a total of 4,180,321 shares have been allotted and issued at 69 cents per share for a value of more than $2.884 million.

This followed a successful placement to existing shareholders and new investors which raised approximately A$9.2 million.

The company’s board of directors participated in the SPP, purchasing shares on September 4.

Change of director interests

Managing director Philippe Odouard has acquired 21,740 shares, increasing the total number of securities held in a direct interest to 756,694 shares.

Chief operating officer Robert Quodling purchased 43,479 shares in a direct interest, increasing his stake to 500,941 shares.

Non-executive independent director Ivan Slavich also acquired 43,479 shares in a direct interest, increasing the total number of securities held after the change to 722,507 shares.

Non-executive director Chris Fullerton purchased 43,749 shares increasing his total number of shares in a direct interest to 143,479.

Chairman and non-executive director Uwe Boettcher also secured 43,749 shares in a direct interest, increasing the number of securities to more than 5.67 million.

Quick facts: XTEK Ltd

Price: 0.63 AUD

ASX:XTE
Market: ASX
Market Cap: $44.63 m
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