Medical Developments International Chairman sells 4.64 million shares

Company News

Medical Developments International Limited (ASX:MVP) Chairman Mr David Williams has sold 4.64 million shares to provide the stock with greater liquidity.
 
In a notice to the ASX Mr Williams advised he had sold the shares to institutional investors in recent days in order to increase the liquidity of the shares on the open market.
 
Mr Williams advised the stock should now be more liquid with trading between institutional shareholders and the company. 
 
Mr Williams remains a substantial shareholder in the medical supply store, with a remaining indirect interest of 32.45 percent of the company’s issued capital. 
 
The Chairman advised he has no immediate plans to reduce holdings further.
 
Medical Developments International reported a net profit of $1.53 million for the 2015 financial year.

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