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Cellmid CEO and non-executive director acquire shares in $6 million placement

The company is developing solutions to a range of conditions associated with ageing and inflammatory and autoimmune conditions.

Cellmid Limited - Cellmid CEO and non-executive director acquire shares by participating in placement
Cellmid has operations in Australia, Japan, the USA, Europe and Asia

Cellmid Ltd (ASX:CDY) CEO and managing director Maria Halasz and non-executive director Dennis Eck have participated a $6 million placement after receiving shareholder approval at a general meeting last month.

Halasz acquired 227,273 shares at 22 cents per share in an indirect interest increasing the total number of securities held in that interest to more than 2.427 million with another 420,000 held in a direct interest.

Also on June 18, Eck acquired more than 4.318 million shares with a value of $950,000 in a direct interest, increasing the total number of securities held to more than 12.497 million.

Change of substantial holder

Eck also changed his substantial holding in the company from 8.47% to 9.98% following the participation in the placement.

Japanese TV shopping sales

The company received a strong response to a sales event for its Jo-Ju® branded consumer products on Japanese television shopping channel QVC with wholesale revenue of $1.19 million.

The result from the Today’s Special Value (TSV) event was slightly higher than the $1.14 million achieved on the TSV event in June 2019 and higher than the last TSV event in December 2019 of $1.13 million.

Cellmid's consumer health products are now sold on television shopping channels QVC Germany and QVC US and on Openshop in Australia, in addition to QVC Japan.

Quick facts: Cellmid Limited

Price: 0.11 AUD

ASX:CDY
Market: ASX
Market Cap: $13.78 m
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