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XTEK Ltd's chairman increases stake on-market

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XTEK Ltd's (ASX:XTE) chairman, Uwe Boettcher, has snapped up some more shares in the company through an on-market trade.

Boettcher purchased 30,000 shares at $0.295, to lift his total holding past 4.9 million.

XTEK recently outlined that it is poised to deliver a significantly stronger result in FY17, over the previous corresponding period, underpinned by orders in hand of $2 million.

At the end of August 2016, Boettcher commented:

"XTEK has a robust pipeline of contracts that should drive a big upswing in revenue from this financial year onwards and the company should see the benefits from our technology developments over the coming months.

"What’s more, the recent capital raise has bolstered our balance sheet.

"The capabilities of our board, with the appointment of Phillipe Odouard as a non-executive director, have been strengthened."

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: XTEK Ltd

Price: 0.69 AUD

ASX:XTE
Market: ASX
Market Cap: $36.69 m
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XTEK Limited's chairman Uwe Boettcher talks to Proactive Investors TV

XTEK Limited (ASX:XTE) is a leading defence and homeland security equipment provider.

on 02/09/2016

2 min read