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OTOC Limited Executive Director Acquires Shares On Market

Jul. 03, 2013 2:48 AM ET
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OTOC Limited (ASX: OTC) chief executive officer and executive director Adam Lamond has acquired 123,102 shares of the company in on market trades.

He paid a total consideration of $6,724.41, or an average of $0.055 per share. The trades bring his total stake up to 57,538,602shares.

EBIT Guidance

OTOC said last month that it expects earnings before interest and taxes for the 2013 financial year to exceed its 2012FY EBIT of $7.2 million.

Key drivers to this growth are its strong relationships with blue-chip customers in the northwest, allowing it to secure new construction work as well as its diversification into the government sector following the award of the Nauru Processing Centre contract.

OTOC has also improved operating margins in its Resources Construction division while its Whelans Australia surveying, mapping and town planning business continues to generate consistent revenue and earnings.

The company is currently completing the $32m installation of accommodation units at Rio Tinto's Brockman 4 Operations Village, where it expects its incumbent position to help it secure further work.

Established in 2003, OTOC specialises in the installation of mine site and remote area infrastructure for government, mining and oil and gas projects.

It has a successful track record of delivering turnkey infrastructure solutions for blue-chip clients including BHP Billiton, Rio Tinto and FMG.

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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