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XTEK director increases stake through on-market purchase

Boettcher now holds more than 5.26 million shares in XTEK.
XTEK director increases stake through on-market purchase
The company is on track to achieve its revenue guidance

XTEK Ltd (ASX:XTE) director Uwe Boettcher has demonstrated his confidence in the company’s strategy by increasing his shareholding.

READ: Xtek poised for rapid near-term growth following major contract wins

Boettcher has made an on-market purchase of 16,151 shares for a total consideration of about $9,368.

He now holds more than 5.26 million shares in XTEK.

XTEK had achieved record revenue for the half-year ended 31 December 2017, partly driven by the supply of Explosive Ordinance Disposal (EOD) robots.

READ: Xtek on track to meet guidance with record first half revenues and $42 million order book

The order book underpins management’s robust growth expectations with the company on track to achieve revenue guidance of between $11 million and $18 million for FY2018.

XTEK is well placed to secure further contract wins for the remainder of FY2018, supplying defence equipment and tactical weapons for the Australian Defence Force and other law enforcement agencies.

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XTEK Ltd Timeline

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