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Vault Intelligence director demonstrates faith in company by on-market share purchases

Ross Jenkins has purchased 2 million Vault shares with a total value of more than $43,000.
Vault logo with SaaS images
The company specialises in risk and safety management software

Vault Intelligence Ltd (ASX:VLT) director Ross Jenkins has demonstrated his confidence in the company’s risk and safety software systems strategy by purchasing 2 million shares on market.

The total value of the acquisitions on November 1 and 2 by the non-executive director is more than $43,000.

Jenkins now holds 2 million shares in a direct interest and 3 million in an indirect interest.

Vault’s online software-as-a-service business specialising in solutions in the risk, environment, health and safety sector.

READ: Vault Intelligence confirms Asia-Pacific distribution partner for Solo product line

The company recently signed a regional distribution partnership for sales and distribution of its Vault Solo product line across the Asia-Pacific region.

This agreement is with Singapore-based ACA Pacific Technology, a leading distribution company with an extensive network of more than 3,000 trained and certified channel partners operating across Asia.

ACA Pacific will sell and distribute Solo across eight countries in Asia through its information technology and telecommunication partner networks.

At the time, Vault executive president Verdon Kelliher said: “The partnership with ACA Pacific is special because of the strong relationship both companies have with Samsung.

“This allows ACA to work with existing Samsung Service Integrators to offer Solo to their customers.”

Solo is a refined workforce management ecosystem designed to protect and manage workforces, while also adding time-saving and productivity tools to complement the core product across a variety of mobility devices.

The successful deployment of Vault Solo across the current client base and potential new large customers is expected to accelerate in the first half of FY2019.

READ: Vault Intelligence raises $5 million from high-quality investors to fund Vault Solo roll-out

Vault recently closed a $5 million capital raising that will help fund the roll-out of Vault Solo on the new Samsung Galaxy Watch.

The company raised the funds from high-quality investors through a 3-cents-a-share placement led by Bell Potter Securities.

Vault said the “strong support” was an indication of institutional investors’ strong commitment to the company.

These investors took up the majority of the placement which was also backed by sophisticated investors.

The company also plans to “aggressively manage, drive and convert Vault Enterprise sales and opportunities across Australasia and China”.

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