Codan director Kathryn Gramp increases stake through share rights conversion

Codan Limited ( (AU:CDA) ) just unveiled an update.

Codan Limited has disclosed a change in the equity holdings of non-executive director Kathryn Joy Gramp, following the exercise of rights granted under the company’s share rights plan. Gramp acquired 1,004 ordinary shares at a price of $29.4561 per share, converting previously held NED rights into additional equity in her own name.

As a result of the transaction, Gramp’s directly held shareholding increased from 3,290 to 4,294 ordinary shares, while a separate family account jointly held with Mr Timothy Gramp remains unchanged at 28,000 shares. The company noted that the transaction was not conducted during a closed trading period, underscoring that the acquisition was a routine equity award conversion rather than discretionary on-market buying or selling.

The most recent analyst rating on (AU:CDA) stock is a Buy with a A$38.50 price target. To see the full list of analyst forecasts on Codan Limited stock, see the AU:CDA Stock Forecast page.

More about Codan Limited

Codan Limited is an Australian listed company that designs and supplies communications, metal detection and related technology products. Its offerings are typically used in demanding environments by government, commercial and consumer customers, with a focus on reliability and performance in international markets.

Average Trading Volume: 334,565

Technical Sentiment Signal: Buy

Current Market Cap: A$6.3B

For detailed information about CDA stock, go to TipRanks’ Stock Analysis page.