Directors Trades: Upping the ante with $20m now in the game
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One director has this week put more skin in the game to take his family’s total stake to over $20m — not bad.
Nathan Mitchell began with the Mitchell Group in 1989, gradually working his way up the ladder. It is an investment company which owns, among other companies, driller Mitchell Services (ASX:MSV).
He bought another $190,500 of stock on market this week and he and his family own over $20m in shares. According to the ASX notice he also sold a relatively paltry amount of around $2,100.
Four directors of monitor service Tesserent (ASX:TNT), which is involved in the $183 billion cyber security market bought stock in a placement. Robert Langford topped the lot – chipping in $150,000.
Simon Clausen bought more stock in LatAM Autos (ASX:LAA), which runs online car classifieds in Latin America, to the tune of $228,198.
But the biggest buyer this week was PYC Therapeutics’ (ASX:PYC) Alan Tribe who bought over $6.7m in a rights issue. This company, which until recent was known as Phylogica, is trying to fix childhood blindness.
Next was Empire Energy’s (ASX:EEG) Paul Espie who sunk $1m into his company. This oil play has operations in Australia as well as the US – specifically in Pennsylvania and Kansas.
Rounding out the buyers was Catalyst Metals’ (ASX:CYL) Stephen Boston who bought $130,034 worth of shares and RMA Global’s (ASX:RMY) Ed van Roosendaal who bought $200,000.
This week’s only big seller was Vortiv’s (ASX:VOR) Gary Foster, who sold $124,877 worth of shares This company is also a cyber security play but you may remember this company as Transaction Solutions International.
It only changed its name in September to reflect its new business focus.
Foster blamed the taxman for having to sell but was able to cross the majority of these shares to fellow shareholder Bombora Investment Management.