Director Trades: Who’s buying their own stock?
Link copied to
Here’s our weekly look at which ASX small cap directors are buying or selling their own stock.
In the final week of July it was mostly buying — partly because many companies enforce blackouts on directors selling shares in the annual reporting season.
One of the bigger on-market buys of the week was by a director of fish breeder Murray Cod Australia (ASX:MCA).
Director Martin Priestley spent $155,800 to pick up a further 2 million shares.
Murray Cod is working to drive its fish sales through production expansion and is investigating high-growth export market opportunities.
Murray Cod recently raised $2.7m – with $2.3 million of that coming from industry super fund AustralianSuper, which is now a substantial shareholder with a 9.8 per cent stake.
A director of liquified natural gas producer State Gas (ASX:GAS) made a significant off-market purchase.
Greg Baynton dipped into his pocket for $316,250.06 to acquire close to another 2 million shares.
The executive chairman of cancer vaccine developer Imugene (ASX:IMU) continued his on-market buying spree for July.
Paul Hopper picked up a further 500,000 shares at a cost of $12,625 after spending $78,909 to participate in a recent entitlement offer as well as acquire more shares on-market.
Mr Hopper now owns 75,678,722 shares and 827,281 options.
Imugene’s managing director, Leslie Chong, also bought more shares on-market. She spent $9490 to add a further 365,000 shares to her portfolio.
Melbourne-based Imugene is developing vaccines to treat cancer that forms in B cells – a type of immune system cell.
The company recently inked a $20 million licensing deal to acquire a family of 16 patents from the Ohio State University and Minnesota’s Mayo Clinic.
The chairman of Oventus Medical (ASX:OVN) spent nearly $30,000 on market to boost his shareholding in the sleep apnoea device maker.
Dr Mel Bridges said his intention was to continue to build his holding in the company.
He also stressed that the founders and directors of Oventus had no near-term intentions of selling down their share in the company despite having recently come out of escrow.
Oventus has developed an airway technology that has been shown to successfully treat obstructive sleep apnoea.
The company says new clinical data shows that over three quarters of patients may be able to be successfully treated without the need for a positive airway pressure ventilator.
Another director of Reward Minerals (ASX:RWD) has finally sunk some more cash into the potash explorer this month.
Non-exec director Rod Della Vedova acquired 50,000 extra shares for $9000.
The move comes after Michael Ruane earlier in July topped up his shareholding to 41.5 million shares, or 30 per cent.
Up until now Mr Ruane had been the only director buying into the junior explorer since June 2016.
Pitching in with capital raisings
There were a few directors participating in recent placements and rights issues.
The chairman and managing director of junior gold and base metals explorer Alchemy Resources (ASX:ALY) collectively pitched in $267,008.21 to a recent entitlement issue.
Non-executive chairman Lindsay Dudfield has raised his substantial stake in the company to 8.6 per cent after acquiring roughly 17.7 million more shares.
Managing director Leigh Ryan, meanwhile, grew his shareholding by 125,000 shares to 625,000 shares.
Leigh Creek Energy (ASX:LCK) directors have also been chipping in.
Managing director Phil Stavely stumped up $15,000 for an extra 93,750 shares, while non-executive director Murray Chatfield bought another 187,500 shares for $30,000.
The shares were acquired in a recent share purchase plan.
Leigh Creek is developing an in situ gasification project in the Leigh Creek coal field in South Australia.