Mobilarm chairman Tim McClement has bought into the marine safety equipment provider through the off-market purchase of a million shares. Mr McClement now has a $72,000 stake in the company. Mobilarm has also recently entered into a loan agreement with managing director Ken Gaunt for a facility of up to $1 million. The facility will be partly used to fund the establishment of the company’s joint venture in Nigeria, whose primary focus is to provide product and service solutions as mandated by the Nigerian Department of Petroleum Resources.
Primary Gold (formerly Hydrotech International) nonexecutive directors Philip Gray and Mike Hendriks have acquired shares in the company by taking up a prospectus offer to raise funds for relisting and restructuring. Mr Gray acquired 850,000 shares, bringing his stake up to 2.1 million shares currently worth $299,011, while Mr Hendriks acquired 250,000 shares, increasing his stake to 988,484 shares currently worth $138,388. Having sold its waterproofing and osmosis business last year, the company has shifted focus to developing its newly acquired Mt Bundy gold project in the Northern Territory.