EMS clarifies director share sale
Eastland Medical Systems Ltd (ASX:EMS) says its non-executive director Michael Stewart remains committed to the company even after disposing 6.67 million shares in the medical products firm just before Christmas.
"Mr Stewart's commitment to the company has not waivered," Eastland said in a statement on Tuesday
"He remains a board member and believes strongly in the sublingual malaria project and the positive impact it can have on the lives of young children with severe or complicated malaria."
The Perth-headquartered company said the sale of the EMS shares was for personal reasons and was in no way an indication that Mr Stewart had lost any confidence whatsoever in the company, its management or its main malaria project.
The company said it has received a number of calls from shareholders asking whether Mr Stewart was still committed to the company after Mr Stewart, on December 24, notified the market that he had disposed of 6,666,666 EMS shares via an off market transfer.