- One of the directors of software company Adveritas (AV1) has snapped up an additional eight million fully paid shares in the business
- Mark McConnell acquired the shares, worth 14 cents each, through his Mera Vale No 1 Trust on Friday
- The nine-time AFR Young Rich lister, who's estimated to be worth upwards of $200 million, first joined the AV1 board in early 2019
- The extra investment comes after Adveritas was named one of Australia's most innovative companies last month
- Shares in AV1 are trading up 13.8 per cent for 16.5 cents each
One of the directors of Adveritas (AV1) has snapped up an additional eight million fully paid shares in the software business, increasing his overall stake.
Adveritas is a Perth-based company which provides measurements and analytics software solutions for businesses across the globe.
Non-executive Director Mark McConnell acquired the fully paid ordinary shares, worth 14 cents each, on Friday through his Mera Vale No 1 Trust.
It's a good sign for the company considering McConnell is a nine-time Australian Financial Review Young Rich lister.
The businessman, who's previously been estimated to be worth upwards of $200 million, first joined the AV1 board in early 2019.
Since then, the company has hit its stride with its ad fraud prevention software TrafficGuard — which is also its first available software-as-a-service (SaaS).
The software recently made the 2020 AFR BOSS Most Innovative List, recognising it as one of Australia and New Zealand’s most innovative technology companies.
Shares in AV1 are trading up 13.8 per cent for 16.5 cents each at 11:30 am AEDT.