While most fund managers participate in the ASX as investors in other companies, some run their own listed investment companies – and three made this fortnight’s list of director trades over $100,000.

One came from Regal Funds Managements’ Regal Investment Fund (ASX:RF1). It first listed in 2019 and returned to investors for more capital two years on.

Chipping in $202,136 in the rights issue was Michael O’Brien on October 20. The form was lodged with the ASX one day late which the company said was an “administrative oversight”.

The second was Wilson Asset Management boss Geoffrey Wilson who bought $416,832 in stock as part of a dividend reinvestment plan for WAM Leaders (ASX:WLE).

This $1.5 billion company is focused on ASX large caps – including but not limited to the banks and big miners – and has returned 28% in the past 12 months.

Rounding out the list was David Butel from London City Equities (ASX:LCE) who chipped in $161,397 – again as part of a dividend reinvestment plan.

Code Company Director Change Date Volume $ What
AHX Apiam Animal Health Christopher Richards Buy 22 October 385,143 $377,171 Dividend Reinvestment Plan
FRI Finbar Group Ronald and John Chan Buy 26 October 150,000 $126,233 On market
BEE Broo Kent Grogan Sell 21 October 120,000,000 $1,800,000 Off market
PGH Pact Group Raphael Geminder Buy 20 October 2,000,000 $6,000,000 On market
HRL HRL Holdings Alex White Buy 26 October 5,912,261 $679,910 On market
TUL Tulla Resources Mark Maloney Buy 26 October 1,000,000 $520,000 On market
IMA Image Resources Li Huang Cheng Buy 26 October 2,557,173 $476,206 On market
RF1 Regal Investment Fund Michael O'Brien Buy 20 October 53,334 $202,136 Rights Issues
IPC Imperial Pacific Peter Murray Buy 28 October 105,743 $144,551 Dividend Reinvestment Plan
LCE London City Equities David Butel Buy 28 October 314,614 $161,397 Dividend Reinvestment Plan
PGH Pact Group Raphael Geminder Buy 26 October 1,700,000 $5,100,000 On market
LPE Locality Planning Energy Justin Pettett Buy 26 Oct 1,500,000 $200,000 Placement
WLE WAM Leaders Geoffrey Wilson Buy 29 October 281,151 $416,832 Dividend Reinvestment Plan
IBG Ironbark Capital Ross Finley Sell 29 October 400,000 $212,000 On market buyback
WOW Woolworths Phillip Chronican Buy 28 October 7,000 $271,198 On market
GNX Genex Power Simon Kidston Sell 1 November 10,000,000 $2,157,000 On market
IBG Ironbark Capital Michael Cole Sell 1 November 1,325,000 $702,250 On market buyback
A1M AIC Mines Aaron Colleran Buy 29 October 5,000,000 $1,250,000 Public offer
A1M AIC Mines Josef El-Raghy Buy 29 October 20,000,000 $5,000,000 Public offer
ADT Adriatic Metals Paul Cronin Sell 1 November 3,000,000 $8,400,000 On market
XTE Xtek Uwe Boettcher Buy 2 November 1,266,478 $329,284 Rights Issues
CLB Candy Club James Baillieu Buy 29 October 1,147,955 $149,234 On market
JMS Jupiter Mines Peter North Buy 3 November 640,000 $140,800 On market
AOP Apollo Consolidated Roger Steinepreis Sell 3 November 14,957,115 $9,273,411 Takeover
AOP Apollo Consolidated David Castleden Sell 3 November 10,333,340 $6,406,671 Takeover
AOP Apollo Consolidated Robert Gherghetta Sell 3 November 8,311,309 $5,153,012 Takeover
IBG Ironbark Capital Michael Cole Sell 3 November 500,000 $265,000 On market
CSL CSL Paul Perreault Sell 2 November 15,800 $4,681,143 On market
RAC Race Oncology John Cullity Sell 4 November 217,878 $709,999 On market
SDF Steadfast Francis O'Halloran Buy 1 November 100,000 $469,500 On market
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Company buyers

The two biggest buys came from the same director – Raphael Geminder of Pact Group (ASX:PGH). He bought $6 million in shares on October 20 and another $5.1 million on October 26 – both on market.

WA gold and copper explorer AIC Mines (ASX:A1M) re-entered the bourse on Friday after a few months suspended. Aaron Colleran and Josef El-Raghy chipped in as part of its recapitalisation process buying $1.25 million and $5 million respectively.

The biggest company with a purchase of shares was Woolworths (ASX:WOW) – Phillip Chronican bought 7,000 shares on market which cost $271,198.

Christopher Richards from Apiam Animal Health (ASX:AHX) bought $377,171 in a dividend reinvestment plan and Uwe Boettcher from XTek (ASX:XTE) bought $329,284 in a rights issue.



This week Ramelius Resources (ASX:RMS) completed its takeover of Apollo Consolidated (ASX:AOP).

Apollo owns the 1.1Moz Lake Rebecca gold project around 100km east of Kalgoorlie.

Although it is is yet to declare an ore reserve, with 815,000oz in the indicated resource category, Ramelius boss Mark Zeptner thinks it has potential to produce 100,000ozpa for 8-10 years.

Three Apollo directors parted with over $5 million in shares – Robert Gherghetta with $5.15 million, David Castleden with $6.4 million and Roger Steinepreis with nearly $9.3 million.

Paul Perreault, the CEO of blood plasma company CSL (ASX:CSL) sold nearly $4.7 million in shares, in a trade the company said was “for portfolio diversification purposes”.

Still with biotechs, John Cullity from Race Oncology (ASX:RAC) sold ~$710,000 in shares. The company said the deal was to fund the exercise of options and that the shares were directly sold to other existing shareholders.

Genex Power’s (ASX:GNX) Simon Kidston parted with ~$2.5 million in an on-market sale.