Director Trades: Who was buying and selling last week?
Link copied to
Lev Mizikovsky has cracked the 50 per cent mark in the Queensland house builder he founded.
He has been buying up stock in Tamawood since November when the company hit a self-described “perfect storm”.
Now he owns 51.3 per cent of the company after reinvesting all of his dividends.
John Scull isn’t exactly the owner of the 23m shares Southern Cross Venture Partners sold in Bigtincan (ASX:BTH) last week, but he does own more than 20 per cent of the Silicon Valley investor.
Bigtincan COO Vivian Stewart did not know why its major shareholder sold and Southern Cross did not respond to requests for comment.
But the company has seen a share price run since mid-February and the venture capital firm was able to sell at levels near Bigtincan’s 52-week share price highs.
It was the same situation at Capricorn Metals (ASX:CMM) where director Timothy Kestell ‘bought’ $218,498 of stock over the last week.
In fact, he’s a major shareholder and one of the top dogs at Neon Capital, which succeeded in turfing the old board in March and installing Kestell and two other new faces in the Capricorn boardroom.
Neon actually sold out, before the buying began again in Kestell’s name last week.
The new board is looking at past “failed transactions” and says it will consider some of the takeover offers coming in once they’ve shored up company finances — but not yet, as they rejected one offer earlier this month.
InPayTech (ASX:IP1) chairman Don Sharp bought $442,000 of shares in an entitlement offer, a type of capital raising where current shareholders are allowed to buy more shares in a special offer.
A little over a year ago InPayTech found out a major client had dumped it after reading about it in Stockhead.
It managed to claw its way back, delivering a 6.8 per cent half year revenue bump in February this year, but had to write off $6.8m worth of ‘goodwill’ due to delays in releasing its new product.
The capital raising Sharp bought into was set up to keep developing the payments software company’s three products and to provide some cash for the day to day, as at the end of March the company had just $546,000 left in the bank.