Jens Montanana, CEO of dual-listed ICT group Datatec, has invested millions in shares in the company.
Montanana bought 120 000 shares on the open market, for a total value of R3.76 million. The purchase was done at an average share price of R31.35 on 10 October, and announced to the market yesterday.
The indirect beneficial stake takes Montanana's total shareholding in Datatec to about 7.15%. The company's share closed 1.51%, or 49c, higher yesterday, at R32.97.
With the purchase, Montanana joins the ranks of several directors who have recently invested in company stock, which is generally seen as a sign of confidence.
Net1 director Christopher Seabrooke indirectly spent R8.475 million to acquire 100 000 Net1 shares. The deal was completed through a trust related to Seabrooke, and he does not gain any benefit through the shares.
Metrofile CEO Graham Wackrill bought 10 000 shares in the company for a total amount of R17 600. Blue Label's CFO and FD also invested in the company in the past month. FD David Rivkind spent R1.85 million on 268 331 shares, while CFO Dean Suntup bought 216 648 shares, for R1.5 million.
ConvergeNet directors have also invested in the company after indirectly buying up shares. Directors Ben Kekena, Tim Modise and Hanno van Dyk collectively bought 120 000 shares in ConvergeNet, through Yellow Star Group Holdings.
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