Directors Trades: Some times are better to trade than others
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A high proportion of this week’s directors trades among ASX small caps happened at interesting times for their companies.
Five directors sold shares because their company was being taken over.
Software stock GBST (ASX:GBT) is being taken over by FNZ. The directors all sold their shares and three of them were trades above $100,000.
Deborah Page sold $113,750, Allan Brackin sold $910,000 and CEO Robert DeDominicis sold $4.16m. They all held their shares until the final days of the company’s listed life.
Also being taken over is West Australian gold miner Azumah Resources (ASX:AZM). Michael Atkins and Stephen Stone sold $174,402 and $385,992 respectively.
A week after Aurelia Metals (ASX:AMI) gave solid gold results (6m at 196 grams per tonne), acting CEO Colin Johnstone bought $118,750. He told shareholders the company was very excited by the results and remained committed to unlocking value.
Another mining director who bought big after good results was Sovereign Metals’ (ASX:SVM) Ian Middlemas, who bought $130,673.
This company is drilling for a titanium oxide mineral called rutile. It reported results including 13m at 1.08 per cent and 5m at 1.16 per cent.
The husband and wife founders of logistics company Wiseway Group (ASX:WWG) bought $267,580 each on market. The company recently hit its one-year anniversary of listing and it had been a poor 12 months with shares listing at 50c and sitting at 12c last Monday.
But in the past week, when news of their trades came through, the share price jumped to 16c.
Among other trades, Cash Converters (ASX:CCV) director Peter Cumins bought $141,600 on market two weeks after a three-year legal battle ended. The company had been sued for charging excessive interest rates and settled the case without admitting liability.
Italian focused oil and gas play Po Valley Energy (ASX:PVE) just completed a capital raise. Michael Masterman bought $250,000 while Kevin Bailey bought $300,000.
|CCV||Cash Converters||Peter Cumins||Buy||4 November||600,000||$141,600||On market|
|GBT||GBST||Deborah Page||Sell||5 November||32,500||$113,750||Takeover|
|GBT||GBST||Allan Brackin||Sell||5 November||260,000||$910,000||Takeover|
|GBT||GBST||Robert DeDominicis||Sell||5 November||1,189,067||$4,161,735||Takeover|
|WWG||Wiseway Group||Florence Tong||Buy||1 November||1,574,000||$267,580||On market|
|WWG||Wiseway Group||Roger Tong||Buy||1 November||1,574,000||$267,580||On market|
|AMI||Aurelia Metals||Colin Johnstone||Buy||31 October||249,999||$118,750||On market|
|SVM||Sovereign Metals||Ian Middlemas||Buy||6 November||1,440,000||$130,673||On market|
|PVE||Po Valley Energy||Michael Masterman||Buy||6 November||4,545,455||$250,000||Placement|
|PVE||Po Valley Energy||Kevin Bailey||Buy||6 November||5,454,545||$300,000||Placement|
|ANO||Advance Nanotek||Geoff Acton||Sell||6 November||19,000||$104,500||Off market|
|AZM||Azumah Resources||Michael Atkins||Sell||1 November||5,284,919||$174,402||Takeover|
|AZM||Azumah Resources||Stephen Stone||Sell||1 November||11,696,725||$385,992||Takeover|
|FZO||Family Zone Cyber Security||Peter Pawlowitsch||Buy||8 November||3,571,428||$500,000||Placement|