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OTOC Limited Executive Director Snaps Up Shares On Market

OTOC Limited (ASX: OTC) founder and executive director Adam Lamond has acquired 200,000 shares of the company in an on market purchase.

He acquired the shares for a total consideration of $29,000, or $0.145 per share, bringing his total shareholding up to 55,115,500 shares.

The company had reported a 148% increase in its profit from operating activities for the half-year ended 31 December 2013 to $4.8 million. Revenue increased by 45% to $73.8 million.

This highlighted the strength of its government infrastructure, communications and facilities businesses.

Cash at bank of $9.1m (up 145%) and a $8.2m finance facility with Commonwealth Bank provides a solid funding platform to pursue organic growth and strategic acquisitions to keep growth continuing.

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