Directors Trades: There’s been an avalanche of big trades in recent days
Link copied to
In the past fortnight there were over 30 directors trades of $100,000 or more among ASX small cap directors.
The list included multiple groups of directors. Five directors from water treatment stock Phoslock (ASX:PET) put in $1.3m between them as part of a placement.
More than half of the investment came from deputy chairman Zhigang Zhang. Another $250,000 came from newcomer Lachlan McKinnon, who replaced departing company veteran Robert Schuitema.
Mortgage broker Australian Finance Group (ASX:AFG) saw four directors sink over six figures into a capital raising of its own.
Tipping in the most was Malcolm Watkins with over $3m and Brett McKeon with $1m. Craig Carter bought $146,364 worth of shares, while Anthony Gill bought $235,228.
Two directors of Queensland renewable energy play Genex Power (ASX:GNX) sold down their shareholdings.
Company founders Simon Kidston and Michael Addison sold $500,750 and $800,000 respectively. According to Genex, it was to pay tax liabilities and fund property renovations.
Finally, coal stock TerraCom (ASX:TER) saw multiple directors, including Craig Ransley and Glen Lewis, buy $11.4m in shares.
The biggest solo trade came from Ian Gandel, who continues buying more of gold junior Alliance Resources (ASX:AGS). He acquired another $1.46m in shares as part of a rights issue.
Last year he made a bid to acquire the whole company which resulted in him gaining a hefty stake in the company, but not quite 100 per cent.
Another notable resources identity, Timothy Goyder, took another leap of faith in lithium play Liontown Resources (ASX:LTR), purchasing $300,000 worth of shares.
Consumer stocks saw notable buyers too. Victorian business identity James Baillieu made another vote of confidence in sweet distributor Candy Club (ASX:CLB), buying just over $125,000.
Grant Murdoch, of forex service provider OFX (ASX:OFX), bought $135,033 on market.
Among the solo sellers, the biggest was G Medical Innovations (ASX:GMV) chief Yacov Geva, who parted with $3.3m worth of shares.
G Medical told shareholders the sale was to an institutional investor and done to repay a third party loan which he secured to advance funds to the company.
Avita Medical (ASX:AVH) boss Michael Perry sold $2.3m to pay a tax bill. However, thanks to the vesting of restricted stock units (having served the company for three years), he finished last week with more shares than what he began with.