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G Medical Innovations board member buys $107,791 worth of out-of-the-money options

The options have a 30-cent strike price and expire 1 May 2020.
nasdaq sign
The company recently gained SEC approval for a NASDAQ listing

G Medical Innovations Holdings Ltd (ASX:GMV) non-executive director Brendan de Kauwe has purchased 2.5 million unlisted options for $107,791.

The options have a 30-cent exercise price, well above the last traded price of 19 cents and expire 1 May 2020.

For these options to have value, the share price must be above 30 cents before this date.

READ: G Medical Innovations releases prospectus for NASDAQ listing after obtaining SEC approval

Earlier this week, G Medical released its prospectus detailing a dual-listing on the NASDAQ Capital Market.

The company proposes to raise a minimum of US$17 million through the offer of American Depositary Shares (ADS).

The executives of the company will commence a US investor roadshow on 3 June 2019, after the mandatory exposure period concludes.

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