Weebit Nano (ASX:WBT) - CEO, Coby Hanoch
CEO, Coby Hanoch
Source Weebit Nano
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  • Weebit Nano’s (WBT) three directors have all exercised their listed options to further increase their stakes in the company
  • The exercise of the directors’ listed options was required ahead of the company entering a blackout in the new year prior to the release of half-year data
  • The three listed directors of the company will invest in total a further $301,000 at the price of $2.84 a share as part of the placement, subject to shareholder approval
  • In addition, an Israeli institutional pension fund Meitav Dash bought the shares forgone by the directors to further advocate for the success of the company
  • Weebit Nano shares are trading down 0.35 per cent and are selling at $2.82

Weebit Nano’s (WBT) three directors have all exercised their listed options to further increase their stakes in the company.

The exercise of the directors’ listed options was required ahead of the company entering a blackout in the new year prior to the release of half-year data as these options expire on January 30, 2022.

According to WBT the actions of the directors show their support for the company’s growth moving forward.

For the purpose of tax liabilities and funding the transaction, the directors’ sold some existing WBT shares.

In addition, an Israeli institutional pension fund Meitav Dash bought the shares forgone by the directors via an off-market transfer. WBT said this was a further showing of strong support.

The three listed directors of the company, Chairman David Perlmutter, Non-executive Director Atiq Raza, and CEO and Managing Director Coby Hanoch will invest in total a further $301,000 at the price of $2.84 a share as part of the placement, subject to shareholder approval.

Weebit Nano is an Israeli company that specialises in the development of next-generation memory technology for the global semiconductor industry.

The company claims to produce a semiconductor that is faster, less expensive, more reliable and more energy-efficient than existing Flash memory solutions.

WBT also said the materials used are fab-friendly and other technology can be quickly and easily integrated within existing flows and processes without needing specialised equipment or large investments.

Weebit Nano shares were trading down 0.35 per cent and were sold at $2.82 around 10:35 am AEDT.

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