Cipherpoint Ltd (ASX:CPT) directors have demonstrated their confidence in the company’s software strategy by participating in the company’s recent rights issue.
On March 18 Cipherpoint’s directors confirmed their participation in the rights issue and subscribed for their full entitlements with funds to support the acquisition of Brace168 Pty Ltd.
Chief executive officer and managing director Ted Pretty, executive director and joint company secretary Steven Bliim and non-executive director Graham Mirabito participated in the rights issue to raise up to $3.9 million at an issue price of 4.7 cents per share.
READ: Cipherpoint's directors confirm participation in rights issue to raise up to $3.9 million
Change of director interests
Mirabito acquired 99,975 shares in a direct interest and a further 411,656 in two indirect interests.
These purchases increased the number of securities held in the direct interest to 166,625 while more than 1.134 million and 100,448 shares are now held in the indirect interests.
Bliim purchased 234,140 shares in a direct interest, increasing his number of securities held in that interest to 702,419.
Pretty acquired 711,447 shares in a direct interest and more than 1.272 million in an indirect interest.
He now holds 1,232,801 ordinary fully paid shares in the direct interest and 4,135,229 in the indirect interest.