Director Trades: Who’s buying and selling their own stock?
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Here’s our weekly look at which ASX small cap directors bought or sold their own stock (August 6-10):
More than a dozen heavy hitters reported trades bigger than $100,000 last week.
Mark Lawrenson — who goes by his middle name, Cliff — did well in the Atlas Iron (ASX:AGO) takeover, making almost $5 million from the sale of his shares to Australia’s richest woman, Gina Rinehart.
Mr Lawrenson’s boardroom buddy Cheryl Edwards made $8740 from the takeover.
Ms Edwardes, a former Attorney General for WA, also heads the board of Croplogic (ASX:CLI) and the West Australian Football Commission.
The only real sale last week was IOT Group’s (ASX:IOT) Sean Neylon, who sold 11.7 million shares for $23,334.
The sale represented 26 per cent of his total holdings.
>> Scroll down for a table of all the small cap trades reported until 5pm Friday last week.
The other big hitters were all spending as part of corporate share purchase plans or capital raisings.
The largest on-market trade was by OBJ (ASX:OBJ) director Steven Schapera. He bought $71,000 of shares which makes his total holding worth about $226,000.
OBJ is a biotech researcher but it works in a particularly interesting area: using magnetic fields to control how drugs are introduced to the body.
While Mr Schapera is strongly backing the business — this is this third on-market buy in four months — the shares have been in decline for the past two years.
Anthony Leibowitz watch
If Ensurance’s (ASX:ENA) Anthony Leibowitz isn’t supporting a capital raising, he’s buying in.
The chairman is the insurance underwriter’s biggest champion, investing nine times this year.
He owns 38 per cent of Ensurance.
Mr Leibowitz was an early investor in Pilbara Minerals (ASX:PLS) and chairman of recruiter Chandler Macleod.
Touching base with Reward Minerals
The last time we touched base with Reward Minerals (ASX:RWD), in July, the first director since 2016 who wasn’t Michael Ruane had bought in.
But Mr Ruane is back, reporting his 72nd trade in the company last week. His stake is sitting at 26 per cent after a rights issue in July — he had briefly owned 30 per cent of the company.
Only one of miner Terracom’s (ASX:TER) seven directors didn’t report a trade last week — but the company also copped its second ‘please explain’.
Director Matthew Hunter made two trades in May, included in the total in the table below, for 100,000 shares.
“The non-disclosure of the Appendix 3Y in May 2018, as required under listing rule 3.19A, was an administrative oversight of the company secretary,” Terracom said in an ASX announcement. “Matthew provided the company secretary with the details of these share purchases within the required time frame as required under listing rule 3.19B.
This follows an ASX announcement on August 2 where Terracom explained why it let independent director James Soorley trade in a closed period.
“Mr Soorley, nor the board of directors, were not in possession of any material price sensitive information at the time of requesting clearance and acquiring shares, the chairman, after making reasonable enquiries, provided written clearance,” it told the ASX.
Pro-Pac Packaging (ASX:PPG) also noted the “late advice” about Rupert Harrington’s May trade last week due to “an inadvertent oversight”.
And finally, Neil Biddle at Spitfire Materials (ASX:SPI) is active again.
Mr Biddle wants to get to 20 million shares in the company he joined after Spitfire bought Admiral Gold in march last year.
Mr Biddle founded Pilbara Minerals, so he knows a thing or two about a promising miner.