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Cellmid directors show faith in company by participating in share placement

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Through wholly-owned subsidiaries such as Lyramid, Kinera and Advangen, the company develops and markets innovative novel therapies as well as diagnostic tests for inflammatory and fibrotic diseases, cancer, ischemic diseases of the heart and hair loss.

Cellmid Limited - Cellmid Ltd’s board of directors show faith in the company by participating in share placement

Quick facts: Cellmid Limited

Price: 0.25 AUD

ASX:CDY
Market: ASX
Market Cap: $24.15 m
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Cellmid Limited’s (ASX:CDY) directors have demonstrated their support for the company by participating in a recent share placement.

Following the approval of shareholders at a general meeting held on November 19, chief executive officer Maria Halasz acquired 600,000 fully paid ordinary shares at 20 cents per share with a value of $120,000.

Non-executive director Dennis Eck acquired 2.5 million shares at 20 cents per share for a value of $500,000 and a further 217,391 shares at 23 cents per share.

Eck increased his substantial holding to 8,178,970 shares, which represents an 8.47% stake in the company.

Directors participate in SPP

Earlier this month chairman David King and non-executive directors Bruce Gordon and Dr Martin Cross participated in a share purchase plan (SPP) which closed on October 14 after raising $1.044 million.

The SPP exceeded the original $500,000 target by the board.

King acquired 300,000 fully paid ordinary shares valued at $60,000, Bruce Gordon acquired 50,000 shares valued at $10,000 and Cross acquired 150,000 shares valued at $30,000.

Cellmid also recently entered into a national trading agreement with API Services Australia Pty Ltd (API) for the ranging of its évolis® professional anti-ageing haircare products in 400 Priceline pharmacy stores around Australia.

The agreement is expected to deliver exclusive offers and unique hair advisory services to Priceline pharmacy customers.

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