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