Imdex (ASX:IMD) issued 1.5 million fully paid ordinary shares on Monday to certain key management personnel of Devico in accordance with reinvestment arrangements established under a share purchase agreement, according to a Thursday Australian bourse filing.

The Devico key management personnel had entered into commitments as part of the transaction, under which they agreed to reinvest around 30% of their exit proceeds into newly-issued Imdex shares.

The shares were acquired by Imdex on the market and allocated in accordance with the Devico transaction arrangements.