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Animoca Brands board members acquire company shares

The purchases are a result of directors participation in the July 2018 $4.5 million placement.

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The delayed purchase is due to directors requiring shareholder approval

Animoca Brands Corporation Ltd (ASX:AB1) chairman Yat Siu and director Holly Liu have acquired $320,000 worth of shares as part of the July 2018 placement.

Siu acquired 6 million shares in the placement increasing his overall holding to over 62 million shares and Lui acquired her first 400,000 shares in the company since joining this year.

Lui, who is a leading entrepreneur was appointed non-executive director and strategic advisor to the board in June 2018.

Shareholder approval for the issue of shares to Siu and Liu was recently received at the company's shareholder meeting on 9 November 2018.

READ: Animoca Brands increases revenue amid key acquisitions

READ: Animoca Brands appoints Gen Kanai as director of strategic partnerships

Earlier this week Animoca made a board appointment and also entered into a strategic partnership with artificial intelligence incubator DEEPCORE.

DEEPCORE is owned by global technology player SoftBank Group Corp. (TYO:9984).

Animoca entered the partnership via its wholly owned subsidiary Zeroth, which is recently acquired boosting its exposure to industry-leading AI and blockchain startups.

Zeroth is one of the world’s first AI accelerators focused on frontier technologies like AI and machine learning.

Quick facts: Animoca Brands Corporation Ltd

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ASX:AB1
Market: ASX
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