Directors Trades: When you have to sell to pay a tax bill, why not sell to a colleague at a premium?

The past fortnight has seen another interesting list of buyers and sellers.

Angel Seafood (ASX:AS1) CEO Issac Lee Halman had to sell $195,000 in shares to pay a tax bill. The company said he had no other choice because the majority of his assets were company shares.

But rather than sell on market, Halman sold the package of shares direct to Angel Seafood chairman Tim Goldsmith at a premium to the 30-day volume weighted average price.

Code	Company	Director	Change	Date	Volume	$	What
AMA	AMA Group	Simon Moore	Buy	6 May	350,000	$132,250	On market
DCN	Dacian Gold	Leigh Junk	Buy	8 May	383,508	$115,052	Rights Issue
DCN	Dacian Gold	Barry Patterson	Buy	8 May	2,005,333	$601,600	Rights Issue
KGD	Kula Gold	Michael Soucik	Sell	8 May	10,701,425	$214,029	Off market
PAR	Paradigm Biopharmaceuticals	Graeme Kaufman	Sell	8 May	184,216	$423,697	Off market
PAR	Paradigm Biopharmaceuticals	Paul Rennie	Sell	8 May	4,131,568	$9,502,606	Off market
WPP	WPP	Robert Mactier	Buy	11 May	422,036	$107,619	On market
BUB	Bubs Australia	Kirsty Carr	Sell	6 May	3,141,000	$3,010,020	On market
GRR	Grange Resources	Honglin Zhao	Buy	11 May	1,224,708	$280,412	On market
CHN	Chalice Gold Mines	Timothy Goyder	Sell	14 May	10,000,000	$10,500,000	On market
MX1	Micro-X	Patrick O'Brien	Buy	13 May	1,640,729	$229,702	Rights Issue
SVY	Stavely Minerals	Chris Cairns	Sell	15 May	300,000	$121,518	On market
ADH	Adairs	Kiera Grant	Buy	15 May	106,000	$150,340	On market
AMA	AMA Group	Simon Moore	Buy	15 May	677,185	$300,440	On market
PSI	PSC Insurance Group	Paul Dwyer	Buy	19 May	210,000	$500,332	On market
AS1	Angel Seafood	Tim Goldsmith	Buy	20 May	1,500,000	$195,000	Off market
AS1	Angel Seafood	Issac Lee Halman	Sell	20 May	1,500,000	$195,000	Off market
KGN	Kogan	Harry Debney	Buy	19 May	12,000	$100,799	On market
JMS	Jupiter Mines	Brian Gilbertson	Buy	21 May	1,283,226	$364,034	On market

The largest trade of the week was Timothy Goyder parting with over $10m of Chalice Gold Mines (ASX:CHN) shares. Chalice has been one of 2020’s most successful small caps on the ASX with its Julimar nickel discovery.

Demand was that hot for its $30m capital raising that Chalice got $75m in applications.

Goyder sold to some of the institutions that missed out. But he still owns over 12 per cent of Chalice and told shareholders he was still committed to the company and excited about its prospects.

Also selling to pay a tax bill was Bubs Australia (ASX:BUB) CEO Kirsty Carr, Stavely Minerals (ASX:SVY) chairman Chris Cairns and Paradigm Biopharmaceuticals (ASX:PAR) chief Paul Rennie. Rennie’s $9.5m trade was a block trade to institutional shareholders.

Buyers

The biggest buy of the week came from Dacian Gold’s (ASX:DCN) Barry Patterson, who parted with just over $600,000 to participate in Dacian’s rights issue.

His colleague Leigh Junk joined in as well to the tune of $115,052 and the company raised over $98m.

South Australian x-ray maker Micro-X (ASX:MX1) also topped up its coffers this month and Patrick O’Brien chipped in $229,702.

While many stocks that fell in February and March have not recovered, online retailer Kogan (ASX:KGN) has. It is also substantially up in the longer term — over 500 per cent in three years.

Director Harry Debney bought just over $100,000 worth of Kogan shares on market last week.

South Africa-focused manganese play Jupiter Mines (ASX:JMS) was stopped flat in its tracks during April due to South Africa’s lockdown. It lasted almost the entire month and laws were among the most strict in the world — citizens were not even allowed out to exercise.

But now Jupiter can recommence operations and last week Brian Gilbertson bought over $360,000 worth of shares in the company.