Directors’ Trades: This Openpay director chipped in $4 million to help his company expand abroad
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The most notable directors trade over $100,000 in the last fortnight was a $4 million trade by Yaniv Meydan from Openpay (ASX:OPY).
Meydan, who is based in Israel and whose family vehicle is one of Openpay’s largest shareholders, chipped in to a $37.5 million capital raising intended to underpin Openpay’s international expansions.
While the deal was first announced at the end of March shareholders had to sign off on the purchase earlier this month at the company’s AGM.
Managing director and CEO Michael Eidel chipped in too, buying just over $200,000.
One other big buyer was Alexander Beard from investment company HGL (ASX:HNG) who bought nearly $2 million as part of a placement, nearly doubling his stake to 11 per cent of the company.
Another was Robert Natter of battery tech stock Novonix (ASX:NVX), who bought over $1.2 million in a placement. His colleague Robert Cooper chipped in too, buying $200,000.
However most other big traders were sellers.
Transport operator and tourism operator Sealink Travel Group (ASX:SLK) completed a $61 million off-market block trade to new institutional holders in a move the company said would increase liquidity and free float in the stock.
$43.4 million of this belonged indirectly to Neil Smith, $6.86 million to Christopher Smerdon, $3.92 million to Terry Dodd and $6.86 million to Jeffrey Ellison.
Meanwhile, their colleague Lance Hockridge bought $176,400 in shares on market.
A company that engaged in a similar move was Booktopia (ASX:BKG) – Tony Nash parted with $4.1 million in shares and Wayne Baskin parted with $1.19 million.
Tyro Payments (ASX:TYR) David Fite sold on his own, parting with $1.5 million in shares in a move that took place after exercising options in the company.
Most trades in this group were buys and a few of them were in groups.
Australis Oil and Gas (ASX:ATS) conducted a placement which three directors chipped into. Graham Dowland bought $115,000, Ian Lusted bought $120,000 and Jonathan Stewart bought $400,000.
Paul Ruiz and Simon Moore bought $250,000 between them in AMA Group (ASX:AMA) shares on market.
Back to oil stocks and Fremont Petroleum (ASX:FPL) director Samuel Jarvis bought $120,000 off market.
His company surged last week with news it had sold 13,000 barrels of oil in six weeks, half the time it took to sell the previous 13,000 (the whole March quarter).
There were a handful of trades from the resources sector, the biggest of which came from Todd Hannigan of Hyperion Metals (ASX:HYM) – not to be confused with ASX-focused fundie Hyperion Asset Management.
He purchased just over $650,000 in the company which has a titanium, zircon, rare earths and silica project in Tennessee.
Hyperion company is hoping to be one of the companies riding the green energy wave.