Redflow chairman and NBN director Simon Hackett has increased his shareholding in the SA-based battery maker, which has recently shown off its groundbreaking home battery able to store energy from solar panels (CDN, Mar. 31) and likely to be a major competitor to Tesla’s slick Powerwall battery panel.
Hackett has bought an additional 6.52 million shares for an outlay of $1.5 million, Redflow revealed yesterday in an announcement to the ASX.
That takes his holding in Redflow to 51.6 million shares, worth $18.8 million at yesterday’s close price of 38.5 cents. The shares are down from a 52-week high of 52 cents.
Hackett is Redflow’s biggest shareholder with more than 13 percent of the action.
