The (paper) riches keep rolling in for internet services entrepreneur and small-cap tech investor Bevan Slattery. On July 14, Mr Slattery invested $2.5 million into 3D-mapping business Pointerra via a placement of 50 million shares at 5¢ each.
At the time, Slattery said he was making the investment as he understood the exponential growth in geospatial data ahead. Not mentioned if surely implied: the potential for an exponentially growing share price. Slattery’s investment is now up nearly 11-fold since July 14 to turn $2.5 million investment into $27 million in just two-and-a-half months.
Pointerra’s chief executive Ian Olsen even took advantage of the bump in valuation to sell 700,000 shares in the group in September for $312,213.
At 54¢ on Tuesday, Pointerra now boasts a market value of $362 million based on 670.7 million shares on issue.
Last May, Olsen and two directors were awarded another 19 million shares at 6¢ each as part of 42 million shares handed out to employees. Another 740,000 share options were exercised last week by directors at prices between 5¢ and 9¢ a pop.
Curiously, the chief executive of aerial mapping and 3D imagery business Nearmap, Rob Newman, also held 13.16 million shares and 5 million unlisted options in Pointerra when he resigned as a director from its board in November 2018.
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