Director Trades: Who’s backing property and who’s backing out to buy property?
Link copied to
Uniti Wireless (ASX:UWL), the company that the ASX thinks is lying about firing the cofounders a day after listing, appeared among the top director trades this week.
Sasha Baranikov’s and Che Metcalfe’s replacement Vaughan Bowen, appointed two weeks ago, bought $951,560 of stock on market.
Mr Bowen is a mergers and acquisitions specialist who helped turn M2 Group into an ASX 100 company that later merged with Vocus Group (ASX:VOC).
Uniti’s chief Michael Simmons is a compatriot of Mr Bowen’s from M2 and left the interim CEO gig at Vocus in July last year.
And for the shorthand on the ASX’s query, it “questions the candour” of Uniti’s answer when it said it sacked the founders simply as part of a business integration.
The guys at Dateline Resources (ASX:DTR) have finally received their shares after four directors collectively sank $2.1m into the cap raise in February.
Chairman Mark Johnson in particular now has in his hand 18 per cent, or 1.6 billion shares, of Dateline.
You might remember that the other major backer of the gold explorer’s cap raise was Southern Cross Exploration (ASX:SXX), which now owns 60.3 per cent and swears a takeover is “definitely not” on the cards.
Then again, they now control Dateline so they don’t need to take it over.
Melbourne investor David Williams is still backing himself with property agent listings site RMA Global (ASX:RMY), buying $212,600 of stock last week.
That makes it $533,620 he’s spent on market on the stock this year, and a cool $1.8m since it listed in July.
He’s a firm believer in the potential of RMA’s business proposition: selling website listings to real estate agents as a way for them to sell their own brand.
But his purchasing power hasn’t been enough to prevent a share price slide from a 30c high in August to near all-time lows of 20c last week.
At ‘factoring service’ provider CML (ASX:CGR) (that’s a company that effectively debt collects receivables you can’t be bothered chasing) managing director Daniel Riley had to sell to meet some personal financial commitments — he had to buy a family property.
He sold to fellow director Sue Healy and two of the company’s institutional shareholders. He still owns 9.5 per cent of CML though.