Vmoto Ltd (ASX:VMT) has had its managing director Charles Chen purchase 230,000 shares through on-market trades executed over the week prior to Christmas.
The shares were purchased at 5 cents each resulting in a purchase price of $11,500.
The purchase increases Chen’s overall holding in the company to 15.64 million shares.
Vmoto manufactures a range of western-designed electric scooters from its wholly-owned 30,000 square metre state-of-the-art manufacturing facility in Nanjing, China.
Low-cost Chinese manufacturing capabilities are matched with stylish European design to provide high performance and competitive products to international markets.
Vmoto operates through a B2B brand and B2C brand:
• E-Max:A Vmoto proprietary brand, targeting international B2B markets with a high-end premium product; and
• Super Soco: A third-party brand that Vmoto markets into international B2C markets.