XTEK Ltd (ASX:XTE) directors have displayed confidence in the company’s growth strategy through on-market share purchases.
Non-executive director and chairman Uwe Boettcher has today purchased 70,000 shares in a direct interest at $0.55 per share.
In addition, non-executive director Chris Fullerton also made an on-market purchase today, acquiring 56,521 shares at $0.56 each in a direct interest.
Boettcher now holds a total of 5,740,408 shares in the company and Fullerton holds 200,000.
Virolens distribution agreement
The company recently signed an agreement with KeyOptions Pty Ltd to exclusively distribute and support Virolens in Australia, New Zealand and the Pacific independent states.
The Virolens system is a COVID-19 screening device based on microscopic holographic imaging and artificial intelligence (AI) software technology.
Under the two-year agreement, XTEK will be the exclusive distributor of Virolens products, consumables, training and maintenance to end-users, third-party service providers and others who will carry out testing at sites.
$1 million C4 EDGE contract
Late last year the company secured a $1 million contract for the next phase of the Command Control Communications and Computers - Evolutionary Digital Ground Environment (C4 EDGE) Program, as part of a $34.4 million Commonwealth contract awarded to the program’s prime contractor.
The C4 EDGE Program for the Australian Army is an all-Australian industry consortium demonstrating a sovereign Battlegroup and Below Battlefield Command System (BG-BCS).