Tech Capital

XTEK chairman buys more shares on market

XTEK is a leading company in the Australian Homeland Security Market.
XTEK recently released new body armour technology

XTEK (ASX:XTE) has had 30,000 of its shares purchased on-market by its chairman of the board.

Uwe Boettcher spent $10,200 buying 30,000 shares priced at $0.34 increasing his total holding in the company to 4.96 million shares.

XTEK recently produced rigid body armour inserts that it believes to be circa 30% lighter than existing armour that offer the same protection level.

The company used its XTclave technology to produce a body armour insert that has been tested and shown to protect against the 7.62 millimetre mild steel core (MSC) bullets.

The technology will be exhibited at the world’s largest composite show in Paris later this month.

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The shares ended 2016 at 8.89p having started it at 3.66p. Backers have consistently exercised warrants to acquire more shares.

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