Director Trades: Who’s selling down and who’s bidding up?
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Here’s our weekly look at which ASX small cap directors are buying or selling their own stock (week of Oct 29):
Registry Direct (ASX:RD1) chairman Donald McLay has sold down his stake by a little over 2 per cent.
The chairman of the almost-billion dollar Credit Corp (ASX:CCA) and Clime Investment disposed of 3.5 million shares, taking his interest in the company to 25 per cent.
The off-market sale netted $105,000.
Mr McLay is also the founder of Australian Helicopters, a company that became “the largest Australian-owned rotary wing contractor to State and Federal government agencies”, according to his LinkedIn page.
Stockhead is seeking comment on why Mr McLay sold down his stake.
>> Scroll down for a list of $100,000+ trades in small cap land last week
The Biotron (ASX:BIT) board was active again last week after cashing in the week before.
Director Robert Thomas cashed in again, exercising $60,000 worth of options and still doubling his money by selling the lot for $180,000.
CEO Dr Michelle Miller exercised $31,000 of options and lifted her stake in the biotech to 3m shares.
Walk this way
Indoor Skydive (ASX:IDZ) director James Spenceley lifted his stake in the company which offers exactly the kind of fun its name suggests.
This was Mr Spenceley’s first purchase into the company after joining the board in September and he went hard, taking a 6.5 per cent stake.
If his track record of companies is anything to go by, Indoor Skydive could be one to watch.
Mr Spenceley founded Vocus Communications, chairs online jobs board Airtasker and Silver Heritage Group, and he likes to do a bit of venture capital investing on the side.
Incentives, debt deals and dividends
The three biggest deals were not technically the kind of acquisitions that really count — they weren’t on-market purchases that show the director is really backing their horse.
The largest at $2.2m was Apiam (ASX:AHX) managing director Christopher Richards reinvesting his dividends under the company plan.
ERM Power (ASX:EPW) CEO and managing director Jon Stretch was given almost $1m worth of shares as short term incentives.
Michael Fotios — of Eastern Goldfields (ASX:EGS) fame — reported a major bump in his stake in Pegasus Metals after loans through companies he controls were converted into debt.
Pegasus is being used as a vehicle for Burkina Faso explorer Scorpion Minerals to backdoor, one that was announced in January and closed in October.
Mr Fotios resigned on the same day as he reported the acquisition, in a director trading notice, of 26.6m new shares as payment for half of an unsecured debt. He owns 23 per cent of Pegasus via stock in his own name and in two investment companies.
Here’s a list of $100,000+ trades in small cap land last week:
|ASX code||Company||Director||Change||Date||Volume||$||Where||Total holdings controlled|
|BIT||Biotron||Robert Thomas||Buy||Oct 30-Nov2||1m||60298||Exercise options||5.4m|
|BIT||Biotron||Robert Thomas||Sell||Oct 30-Nov2||1m||180522||On market||4.4m|
|RD1||Registry Direct||Donald McLay||Sell||Oct 30||3.5m||105000||Off market||32m|
|AHG||Automotive Holdings Group||John McConnell||Buy||Nov 1||79,683||169704||On market||179,683|
|EPW||ERM Power||Jonathan Stretch||Buy||Nov 1||584,478||980169||Incentives||4.7m|
|IDZ||Indoor Skydive Australia Group||James Spencely||Buy||Oct 30||8.8m||529575||On market||8.8m|
|IHR||IntelliHR||Jeremy Fong||Buy||Oct 29||410,627||123188||Incentives||3.8m|
|PUN||Pegasus Metals||Michael Fotios||Buy||Oct 18||26.6m||800000||Debt conversion||49m|
|ASH||Ashley Services Group||Chris McFadden||Buy||Oct 26, 30, 31||554,007||140639||On market||630,630|
|LHM||Land & Homes Group||Choon Keng Kho||Buy||Oct 30||5.8m||115000||Convertible note subscription||503m|
|DCG||Decmil Group||Denis Criddle||Buy||Oct 24-25||400,000||297545||On market||27m|
|AHX||Apiam Animal Health||Christopher Richards||Buy||Oct 26||350,828||2234072||Dividend reinvestment plan||29m|
|COG||Consolidated Operations Group||Patrick Tuttle||Buy||Oct 24-29||1.7m||191025||On market||1.7m|
|DHR||Dark Horse Resources||David Mason||Buy||Oct 25||16.7m||100000||Shares in lieu of fees||104m|
|WBT||Weebit Nano||Yosi Keret||Sell||Oct 23-29||4.75m||152678||On market||24m|
|MRG||Murray River Organics||Michael Porter||Buy||Nov 1||1m||100000||Entitlement offer||1m|
|MRG||Murray River Organics||Valentina Tripp||Buy||Nov 1||2m||200000||Entitlement offer||2m|
|BSA||BSA||Max Cowley||Buy||Nov2||1.3m||359999||Dividend reinvestment plan||73m|
|SRH||Saferoads Holdings||Darren Hotchkin||Buy||Nov 1||1m||350000||Off market||7.6m|