When two directors make a multi-million dollar share sale between them it would normally be considered a bad sign for shareholders. But what if it’s because shareholders’ want more?

Kogan.com (ASX:KGN) founder Ruslan Kogan and CFO David Shafer sold nearly $30m of shares between them.

Chairman Greg Ridder told the ASX last week that “existing shareholders…asked Ruslan and David to provide them an opportunity to increase their ownership levels in the company”.

“Ruslan and David have taken the opportunity to diversify a portion of their investments which most financial advisers would recommend doing over time.”

Consequently, the pair sold $21.7m and $8.3m respectively.

Ramelius Resources (ASX:RMS) Michael Bohm sold $754,710 shares that were under his wife’s name.

Six months ago these shares would only have been worth half that but strong production figures ensured this winter was not cold for them.

William Powell, director of Data#3 (ASX:DTL), sold $240,323 in shares. This company, being one of the few profitable tech stocks, has been on a solid run as of late. It is up around 50 per cent in six months, capped off with another record profit announcement last week.

 

Who was buying?

The biggest buyer was Australian Dairy Nutritionals (ASX:AHF) director Paul Morrell, who bought $2.2m in a recent placement.

Stockhead recently attended a broker lunch held by the company, where among other things it said it had plans to enter the infant formula space.

Next was Hot Chili’s (ASX:HCH) Murray Black, who invested $500,000 in the copper-gold explorer’s placement.

Following him was Indoor Skydive (ASX:IDZ) director Steve Baxter, who bought $425,987 in a right’s issue.

The company has had a rough 12 months with a legal dispute, a reduction in sales and its share price shrinking.

Other companies with tough periods, such as Olivers’ Real Foods (ASX:OLI), promised this financial year would be better.

All that Indoor Skydive’s report promised last week was that “the company will continue its strategy of repair, growth and diversification”.

Smart Parking (ASX:SPZ) director Christopher Morris bought $175,043 on market.

While its books are not in the best of shape, the company’s other unveiling last week (acquisition interest) sent shares surging.

Rounding out the list this week was Hub24’s (ASX:HUB) Bruce Higgins who bought $112,700; Vysarn (ASX:VYS) Peter Hutchinson who bought $250,000; Cirrus Networks’ (ASX:CNW) Paul Everingham who bought $210,050 and Silver Mines’ (ASX:SVL) Anthony McClure who bought $150,000.

Code Company Director Change Date Volume $ What
IDZ Indoor Skydive Australia Steve Baxter Buy 21 August 42,598,688 $425,987 Rights Issue
HCH Hot Chili Murray Black Buy 26 August 16,666,667 $500,000 Placement
KGN Kogan.com David Shafer Sell 23 August 1,445,452.00 $8,311,349 Off market
KGN Kogan.com Ruslan Kogan Sell 23 August 3,771,939.00 $21,688,649 Off market
AHF Australian Dairy Nutritionals Group Paul Morrell Buy 19 August 18,288,342.00 $2,194,601 Placement
DTL Data#3 William Powell Sell 26 August 100,000 $240,323 On market
RMS Ramelius Resources Michael Bohm Sell 27 August 600,000 $754,710 On market
SPZ Smart Parking Christopher Morris Buy 27 August 1,000,000 $175,043 On market
GUD GUD Holdings Greame Whickman Buy 26 August 25,000 $226,275 On market
VYS Vysarn Peter Hutchinson Buy 28 August 4,629,630 $250,000 Public Offer
CNW Cirrus Networks Holdings Paul Everingham Buy 27 August 5,000,000 $210,250 On market
HUB HUB24 Bruce Higgins Buy 28 August 10,000 $112,700 On market
SVL Silver Mines Anthony McClure Buy 28 August 3,000,000 $150,000 Placement
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At Stockhead we tell it like it is. While Hot Chili is a Stockhead advertiser, it did not sponsor this article.

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