Director Trades: Who’s buying and who’s selling?
Here’s our weekly look at which ASX small cap directors bought or sold their own stock:
Three small cap directors reported sales last week: Jumbo Interactive chief Mike Veverka, Terry Dodd at Sealink Travel and Envirosuite boss Robin Ormerod.
Jumbo runs lotteries and Mr Veverka must have felt like he’d won one after collecting a $1 million payday.
He exercised 150,000 options, paying $4 for each new share, and then sold 260,000 shares for $6.39.
>> Scroll down for a table of recent ASX small cap director trades
Mr Ormerod agreed to part with $350,000 of stock to two of his colleagues.
Envirosuite directors had a dabble last week after producing annual results that included a 72 per cent drop in revenue to $4.5 million and a wider loss.
Envirosuite last year sold a consulting division that made 80 per cent of its money to focus on environmental management software. They reckon they’re doing ok, hitting a $3 million recurring revenue target.
The stock surged in July to 10c as the company revealed a $10 million investment from institutional investors.
Mr Dodd’s latest sale was of 49,777 shares. It’s the fifth time he’s sold since 2016 (he’s bought once in that period) and it finally takes him out of the substantial shareholder register.
He has made a total of $2.9 million over the last two years.
The most active mining executive in director trades was back: Reward Mineral’s Michael Ruane spent $1.5 million in a rights issue.
Last week Mr Ruane told Stockhead there was no major reason behind his constant buying other than a belief that the potash play’s stock is cheap.
Printer equipment seller CSG’s Tom Cowan and Mark Baylis also sank a fair chunk of cash into a cap raise, spending $1.2 million and $210,227 respectively on an $18 million rights issue.
The raising was to recapitalise the company after falling printer sales led to a company-wide strategic review.
The company’s full year loss blew out by 65 per cent to $105 million and it has $62.5 in cash and debt available.
Matador Mining director Grant Davey was trading again. He lifted his stake in the company to 2.7 million. A few weeks ago he received a $9.5 million windfall at one of his other companies, Boss Resources, when he sold to institutional investors.
There were somer ten other large trades above $100,000 last week.
Among those, the only people to buy on market were Valmec’s Stephen Zurhaar, PolyNovo’s Bruce Rathie, Collection House’s Leigh Berkley and Thorney Opportunity fund boss Alex Waislitz.
Mr Waislitz owns 29 per cent of the listed fund after topping up last week.
Indago Energy’s Stephen Mitchell, Otto Energy’s John Jetter, and Bronwyn Barnes, chairperson of Indiana Resources, bought into capital raisings.
Ms Barnes fought off a disgruntled shareholder late last year to turn the company into a Mali-focused gold explorer this year.
The chairman of global water tech business Fluence, Richard Irving, and Jervois Mining director Stephen van der Sluys exercised options to bump up their shareholdings.
It being the final week of reporting season, we only picked up one “administative oversight” last week.
Copper Strike (ASX:CSE) offere “administrative oversight” as the reason for director Harry Hatch’s notice being lodged a month late.
“The company notes that the notice was not lodged within the requisite time frame due to an administrative oversight,” Copper Strike said in an ASX announcement. “The notice was prepared and lodged as soon as practicable once the company became aware of the oversight.”
Copper Strike’s only asset is a shareholding in Syrah Resources.
Here is a list of recent ASX small cap director trades:
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