RPM Automotive Group Ltd MD shows confidence in company’s growth strategy with...

RPM Automotive Group Ltd MD shows confidence in company’s growth strategy with on-market purchases

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The company owns brands such as RPM Racewear, Carline, Genie, Air Anywhere and Formula Off-Road.

() managing director Clive Finkelstein has demonstrated his confidence in the company’s growth strategy with a series of share purchases, including the most recent on market transactions valued at $30,900.

On August 6-10 Finkelstein acquired 156,000 shares in on-market trades, increasing the total number of securities held in direct and indirect interests to almost 41.56 million shares.

This follows the purchases made by Finkelstein from July 31 to August 4 of 32,800 shares and from July 17 to 22 of 15,000 shares.

Executive director Lawrence Jaffe acquired 3,500 shares in on-market purchases from July 24 to 31, increasing his number of securities held to more than 41.227 million shares.

Growth strategy

The board has always maintained that the short to medium-term growth strategy will be focused on its commercial tyre divisions.

In the company’s latest FY20 trading update RPM surpassed expectations and while market volatility remained a concern, it exceeded turnover forecast with a year-on-year increase of 13.7% despite the difficulties of the COVID-19 pandemic.



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