Directors Trades: It’s a new financial year, so who’s hoping for better returns and who’s selling to pay a tax bill?
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The change from one financial year to the next saw several ASX company directors sell to pay forthcoming tax bills but also purchases as directors betted on the future.
|LGL||Lynch Group||Patrick Elliott||Buy||6-7 April & 15 June||203,830||$736,343||On market|
|ALT||Analytica||Michael Monsour||Buy||18 June||214,285,714||$750,000||Placement|
|CE1||Calima Energy||Glenn Whiddon||Buy||23 June||19,198,870||$153,591||On market|
|CG1||Carbonxt Group||Matthew Driscoll||Buy||22 June||726,434||$108,965||Rights Issue|
|CYM||Cyprium Metals||Nicholas Rowley||Buy||25 June||385,000||$102,025||SPP|
|MLT||Milton Corporation||BJ O'Dea||Buy||25 June||114,000||$661,177||SPP|
|CUV||Clinuvel Pharmaceuticals||Brenda Shanahan||Sell||24 June||25,000||$691,771||On market|
|FRI||Finbar Group||Ronald Chan||Buy||28 June||1,500,395||$1,260,332||Off market|
|G1A||Galena Mining||Adrian Byass||Sell||23 June||1,000,000||$200,000||On market|
|UCM||Uscom||Robert Phillips||Buy||28 June||644,627||$102,293||On market|
|MBH||Maggie Beer||Reginald Weine||Buy||28 June||500,000||$175,000||Capital raising|
|AWN||AWN Holdings||Kevin Tser Fah Chin||Buy||29 Jun||150,000||$135,970||Off market|
|LKE||Lake Resources||Steve Promnitz||Sell||29 June||10,000,000||$2,800,000||Off market|
|COB||Cobalt Blue||Josef Kaderavek||Buy||30 June||395,370||$107,226||On market|
|JLG||John Lyng Group||Scott Didier||Sell||23 June||3,000,000||$13,200,000||Off market|
|FIJ||Fiji Kava||Zane Yoshida||Sell||30 June||1,750,000||$174,650||On and off market|
|MNY||Money3||Scott Baldwin||Sell||30 June||100,000||$325,000||On market|
|VUL||Vulcan||Gavin Rezos||Buy||30 June||38,461||$249,997||Placement|
|BRN||Brainchip||Peter Van Der Made||Sell||23-30 June||5,458,106||$3,323,768||On market|
|PLS||Pilbara Minerals||Kenneth Brinsden||Sell||30 June||4,000,000||$5,711,275||On market|
|PSC||Prospect Resources||Mark Wheatley||Buy||30 June||645,162||$100,000||Placement|
|STG||Straker Translations||Grant Straker||Sell||30 June||1,100,000||$2,090,000||On market|
|TYR||Tyro Payments||David Fite||Sell||28 June||787,086||$2,832,168||On market|
|CUV||Clinuvel Pharmaceuticals||Phillipe Wolgen||Sell||30 June||122,675||$3,748,583||On market|
Many of the buyers came from companies that had made solid returns in FY21.
After a return of over 75 per cent in 12 months, Maggie Beer’s (ASX:MBH) Reginald Wayne bought $175,000 in a capital raising.
Battery metals aspirant Vulcan (ASX:VUL) meanwhile netted over 1,400 per cent and chairman Gavin Rezos chipped in $249,997 in a placement.
BJ O’Dea from Milton Corporation (ASX:MLT) chipped $102,025 into a share purchase plan for his company even though a takeover offer is pending for his fund management company.
One company that listed in FY21 is Lynch Group (ASX:LGL) which revealed that director Patrick Elliott made over $700,000 of on market purchases in June as well as in April when it first listed.
The floral company was one of FY21’s biggest listings and after initially dropping on debut, has regained lost ground since upgrading its guidance from prospectus forecasts.
One of the ASX’s smaller companies is medtech Analytica (ASX:ALT) and Michael Monsour bought $750,000 in a placement.
Being a microcap stock with a share price under half a cent per share, Analytica shares have been volatile in recent months but the company received a major boost in March after obtaining registration in China.
The turnover of financial years means the clock starts ticking to settle with the ATO and it is common to see a large number of sales for directors to meet these obligations.
Only one explicitly mentioned the “t” word in Straker Translations (ASX:STG) director Grant Straker who sold just over $2 million off market.
Steve Promnitz from Lake Resources (ASX:LKE) sold $2.8 million to manage “short term financial obligations”. The trade was an off-market trade to an institutional fund manager that has not yet been revealed.
Also selling from Clinuvel was Brenda Shanahan who sold $691,771 in an on market trade.
Pilbara (ASX:PLS) director Kenneth Brinsden sold $5.7 million on market and Scott Didier from building works company John Lyng (ASX:JLG) topped the lot, parting with $13.2 million in shares although no reason has been given for either of the two latter sales.