He has seen the value in it and taking advantage of market weakness. With about 125million shares on the market, that is about 4mil shares. I would say he knows that the company is a takeover target at this weakness. Market cap of 15mil, 4mil in the bank, revenue likely to double or triple this coming financial year and more than likely cash flow positive.
SYDNEY, 24 August 2017: Integrated Payment Technologies Limited (ASX: IP1) notifies that Don Sharp, the Company’s Executive Chairman, has advised the Company that he intends that one of his associated entities will use the “3% creep in 6 months” exception to the Corporations Act takeovers prohibition in order to acquire onmarket ordinary shares in the Company in addition to his existing holdings.
IP1 Price at posting:
10.0¢ Sentiment: Hold Disclosure: Held
