Director Trades: Alloggio sunk on debut but one director quickly bought more shares on market
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Alloggio Group (ASX:ALO), didn’t have a positive debut on the ASX last week but that didn’t stop one director from buying more on market.
The holiday accommodation manager listed at 20 cents per share but fell as low as 15 cents on debut amidst fears over the Omicron variant.
However it is in stark contrast to this years’ other IPO in the “local holiday” space Camplify (ASX:CHL) which has more than doubled.
Just a couple of days after Alloggio’s debut, one of its directors John Murphy bought more shares on market – 1.15 million for $194,924.
This trade left him with a total of ~4.7 million shares, just under half of which are in escrow for the first couple of years of the company’s listed life.
Speaking of stocks going through tough times, another is Nuix (ASX:NXL) and it has hit the share price skids for the best part of 10 months, falling from nearly $12 in late January to little over $2 now.
Buying on market was Sue Thomas who bought $149,372 on market. She joined the company’s board just prior to listing but also is on the board of Temple & Webster (ASX:TPW) and was the founder of superannuation fund manager Flexiplan back in the 1990s which was snapped up by MLC before the end of that decade.
Colette Garnsey from financial services heavyweight Magellan Group (ASX:MFG) bought just under $1 million in a share purchase plan.
Last week dental franchise 1300Smiles (ASX:ONT) was formally acquired resulting in all directors parting ways with all their shares.
Robert Jones was the only one who revealed how many shares he parted with as part of a 3Y Appendix – 37,521 at $8 per share. The rest submitted a 3Z notice (a disclosure of directors’ interests as they resign) before selling.
Daryl Holmes was left with 3.7 million shares but he would have only reaped $6.33 per share because the founders’ shares were agreed at a separate price. Nonetheless he would’ve netted over $23 million on that share price.
Still with takeovers, one set to occur in the next few weeks is ALE Property Group (ASX:LEP) by a consortium of which Charter Hall Long WALE REIT (ASX:CLW) is a part of, along with HostPlus.
Yet, CLW director David Harrison sold just over $900,000 of shares on market.
Two directors from goldie Tietto Minerals (ASX:TIE) sold shares off market – Caigen Wang sold $1.17 million while Paul Kitto and Francis Harper sold $390,000 each all of which were to institutional investors.
For the second fortnight in a row Newcrest (ASX:NCM) boss Sandeep Biswas sold shares – this time $1.3 million – to pay a tax bill accumulated as a result of shares being issued to him under the Employee Share Scheme.