Wednesday, 19 June 2019 19:03

MGM Wireless CEO Fortunatow increases company shareholding

Mark Fortunatow, founder & CEO MGM Wireless Mark Fortunatow, founder & CEO MGM Wireless

Mark Fortunatow, chief executive of technology company MGM Wireless — makers of the all-in-one smartphone, watch and GPS device Spacetalk — has increased his shareholding in the company with an investment of $150,000.

The Australian-listed MGM (ASX:MWR) announced on Wednesday that Fortunatow had increased his shareholding in the company by exercising 250,000 options at an exercise price of $0.60 per option.

The purchase of more shares takes Fortunatow’s interest in the company to 15.60%.

“I am very pleased to announce that I have increased my investment in the company by exercising a number of options ahead of their expiry in April 2020,” Fortunatow said.

“I have no plans to sell any shares in the foreseeable future and did not sell any to fund the exercise. It is a very exciting time for our company as we continue to implement our international expansion plans.”

MGM says its school communication solutions is used by more than 1400 schools and 1.7 million parents, empowering schools to effectively communicate and engage parents and caregivers through SMS, mobile in-app and other means to improve student attendance and safety, help schools reduce operating costs and increase parent engagement.


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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).



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