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Admedus Limited Non-Executive Director Exercises Options

Admedus Limited (ASX:AHZ) non-executive director Peter Turvey has increased his stake in the company through the exercise of 333,333 unlisted options exercisable at $0.06 each.

AHZ last traded at $0.074.

Turvey paid $19,999.98 to convert the options into 333,333 shares, increasing his direct and indirect interest up to 2,775,535 shares.

He retains 333,334 of the same unlisted options exercisable at $0.06 and expiring 18 May 2017 as well as 500,000 unlisted options exercisable at $0.27 that expire on 16 December 2018.

Admedus recently raised $12 million through a heavily oversubscribed placement to boost sales and advance its regenerative tissue product development and immunotherapy programs.

It will also undertake a 1 for 7 non-renounceable pro-rata offer of shares priced at $0.07 to raise up to $16 million.

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