Directors’ Trades: This ex-NRL player chipped $6.8m more into his industrial company
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The most noteworthy directors trade over $100,000 was a $6.8 million buy made by a former NRL player.
Wes Maas played two first-grade games for South Sydney in 2002 but after that founded civil and mining construction company Maas Group (ASX:MGH), It listed on the ASX in December last year and is a $1.3 billion company.
During the IPO Maas sold down his holdings from 77.4 per cent to 55.6 per cent.
But earlier this month he chipped a bit more into his company, investing over $6 million into his company through a Dividend Reinvestment Plan and off-market trade.
A number of Maas’ colleagues also participated in the Dividend Reinvestment Plan but none of them came close to matching their boss’ investment due to their smaller stakes in the company.
Sticking with directors who used to be footy players; one is Mike Fitzpatrick of Carnegie Clean Energy (ASX:CCE).
You may remember him as chairman of the AFL Commission but he was also a player representing Subiaco in the WAFL between 1970 and 1974 followed by Carlton in the VFL between 1975 and 1983.
Fitzpatrick parted ways with over $1.7 million in shares of the microcap renewable energy play in an on-market trade.
These shares were owned by his venture capital firm Starfish Ventures.
Returning to the buyers and the next biggest was Ian Gandel of porphyry hunter Alkane Resources (ASX:ALK) who chipped in $2.9 million.
Of directors who stumped up six figures, some of the larger trades included a $725,000 off-market buy by Malaysian millionaire Kong Choong Soon of Malaysian property developer United Overseas Australia (ASX:UOS) as well as Inaki Berroeta of telco TPG (ASX:TPG) who bought $599,580 of shares on-market right before the stock was removed with its acquisition by Vodafone taking effect.