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  • OTOC Limited Executive Director Snaps Up Shares On Market 0 comments
    Mar 19, 2014 1:13 AM

    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.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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