Circadian Technologies (ASX: CIR) non executive director Errol Malta acquired 20,000 shares indirectly at $0.52 per share on October 17 in an on market trade.
The purchase was made for a consideration of $10,390 and Malta now holds an indirect interest of 70,000 shares.
Circadian Technologies recently received a glowing valuation from Van Leeuwenhoeck Research, which is a firm specialising in bio technology and life science sectors, and based in The Hague and in New York.
Based on sum-of-the-parts valuation, the research firm believes Circadian is gravely undervalued at the current share price of AUD 0.47. Using its valuation model, Circadian’s total value is considered to AUD 91 million, or A$1.97 per share.
This represents more than 300% upside from the current share price which last traded at $0.52 per share.
Originally published at : http://www.proactiveinvestors.com.au/companies/news/20992/circadian-technologies-director-tops-up-shareholding-20992.html
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