Directors Trades: Over two dozen directors made $100k+ trades last week
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It is common for directors to be prohibited from trading their company’s shares ahead of an AGM, and with last week marking the end of the AGM season it kicked off a frenzied trading spree.
With restrictions lifted, 25 directors made trades worth over $100,000, with 15 buying and 10 selling.
Four of the sellers were from PainChek (ASX:PCK), which is one of 2019’s ASX success stories after rising from below 4c in early April to above 20c now.
The trigger for its staggering run was a $5m funding package from the Morrison government.
Four directors sold over $9m between them to fund tax bills as a result of exercising options. But they sold to institutional shareholders (as other company directors have done) and put a 12-month escrow on their new shares.
Also selling after exercising options was Spirit Telecom’s (ASX:ST1) Terence Gray, who parted with $281,250 off market but exercised $237,500 worth of options only a few days earlier.
Like Uniti (ASX:UWL), Spirit is vying to be an alternative to the NBN but the success of Uniti has thus far eluded Spirit. But ironically, Uniti made a takeover bid earlier this year and it was rejected.
Australian Financial Group’s (ASX:AFG) Malcolm Watkins and Brett McKeon sold $12.5m and $15m respectively. The reason? To assist in diversifying their portfolios. Again the shares were sold to institutional investors.
FIFO service provider Alliance Aviation’s (ASX:AQZ) Stephen Padgett sold $637,500. This came only a handful of days after he bought nearly the same amount in a dividend investment program.
You’d probably know Victor Previn as the founder and chairman of eye laser company Ellex (ASX:ELX). But he recently joined the board of South Australian copper-gold explorer Havilah Resources (ASX:HAV). Last week he bought $150,000 in Havilah.
Also in the mining space, Michael Elliot from graphite play Walkabout Resources (ASX:WKT) bought $230,000 on market. And Asimwe Kabunga of bauxite play Lindian Resources (ASX:LIN) bought $200,000 worth of shares.
PointsBet (ASX:PBH) directors have been active buyers and one of them went in again this week. Brett Paton bought over $3m and owns over 7 per cent of the company.
Donald Haller from sustainable packaging play Secos (ASX:SES) bought just over $250,000 worth of stock. After several months of stagnation, Secos shares have had a better few months climbing from 3c in April (when he last bought stock) to 9c last week.
The biggest buyer of all was Denis Wagner of Wagners (ASX:WGN). He co-founded the Queensland construction provider and put $22m into the company’s recent rights’ issue.
|FLN||Freelancer||Simon Clausen||Buy||22 November||192,134||$129,306||On market|
|BOD||Bod Australia||Mark Masterson||Buy||20 November||441,176||$150,000||On market|
|OVT||Ovato||Michael Hannan||Sell||22 November||31,653,644||$1,614,336||Off market|
|LIN||Lindian Resources||Asimwe Kabunga||Buy||21 November||12,500,000||$200,000||Placement|
|CGS||Cogstate||David Dolby||Buy||22 November||1,133,338||$435,281||On market|
|OTW||Over The Wire||Brent Paddon||Sell||21 November||650,000||$2,990,000||On market|
|OTW||Over The Wire||Michael Omeros||Sell||21 November||650,000||$2,990,000||On market|
|OTW||Over The Wire||John Puttich||Buy||22 November||43,500||$201,200||On market|
|PPE||People Infrastructure||Glen Richards||Buy||21 November||50,000||$150,000||On market|
|HAV||Havilah Resources||Victor Previn||Buy||19 November||1,500,000||$150,000||Rights Issue|
|ST1||Spirit Telecom||Terence Gray||Sell||25 November||1,250,000||$281,250||Off market|
|AJM||Altura Mining||James Brown||Buy||22 November||1,700,000||$102,000||Rights Issue|
|ZNC||Zenith Minerals||Rodney Joyce||Buy||25 November||1,911,915||$105,133||Rights Issue|
|VPR||Volt Power Group||Adam Boyd||Buy||26 November||720,000,000||$298,512||Off market|
|AFG||Australian Finance Group||Malcolm Watkins||Sell||27 November||5,000,000||$12,550,000||Off market|
|AFG||Australian Finance Group||Brett McKeon||Sell||27 November||6,000,000||$15,060,000||Off market|
|SES||SECOS Group||Donald Haller||Buy||26 November||5,402,107||$256,726.75||Placement|
|PCK||PainChek||John Murray||Sell||27 November||12,299,748||$2,459,950||On market|
|PCK||PainChek||Phillip Daffas||Sell||27 November||20,499,581||$4,099,916||On market|
|PCK||PainChek||Adam Daves||Sell||27 November||6,149,874||$1,229,975||On market|
|PCK||PainChek||Ross Harricks||Sell||27 November||6,149,874||$1,229,975||On market|
|WKT||Walkabout Resources||Michael Elliot||Buy||27 November||1,000,000||$230,000||On market|
|PBH||PointsBet||Brett Baton||Buy||28 November||1,024,890||$3,279,648||Rights Issue|
|AMA||AMA Group||Anthony Day||Buy||27 November||200,000||$235,278||On market|
|WGN||Wagners||Denis Wagner||Buy||22 November||14,201,056||$22,011,637||Rights Issue|
|AQZ||Alliance Aviation||Stephen Padgett||Sell||25 November||250,000||$637,500||On market|