Trading Places is Stockhead’s weekly wrap of ASX small cap substantial holder filings.

Substantial holders are defined as those holding 5 per cent or more of a company’s shares and these could be directors, individual investors or institutional investors.

Shareholders are required to announce to the exchange when their shareholding becomes substantial, when they have ceased to be substantial shareholders or any change in their holdings above 5 per cent.

Buyers

When your stock is suspended from the ASX it is considerably difficult to buy or sell. Unless it’s a capital raise that will get you re-listed – and Crusader Resources (ASX: CAS) is raising $4 million.

Buying into Crusader was Chris Retzos who now has a 13.34 per cent stake in the company, spending $700,000 for the privilege. However, the stock won’t relist until July.

FIFO flight provider Alliance Aviation (ASX: AQZ) has Qantas as a 20 per cent stakeholder and this week it welcomed Perpetual who have spent $5 million since February on a 5.11 per cent stake.

International payments company OFX Group (ASX: OFX) saw Health Employees Super Fund accumulate a 5 per cent stake in the company.

The major small cap fund managers were active this week. IOOF became a substantial holder in metal detector manufacturer Codan (ASX: CDA) with a $3.9 million buy last Thursday.  It also increased its holdings in Primero Group (ASX: PGX), KYCKR (ASX: KYK) and Calix (ASX: CXL).

Wilson Asset Management has accumulated a 5.60 per cent sake in construction stock Johns Lyng Group (ASX: JLG), topping it off with a $1.9m buy last week. It also topped up its stake in Myer (ASX: MYR), buying $7 million in the last three months.

Naos Asset Management increased its holdings in MNF Group (ASX: MNF) to nearly 20 per cent and in BTC Health (ASX: BTC) to 18.5 per cent.

Spheria Asset Management increased its stake in GR Engineering Services (ASX: GNR) to 10.43 per cent. It has bought $4.2 million in the last fortnight.

Australian Ethical Investment has made some fascinating moves in recent weeks. This week it became a holder in renewable energy stock Infigen Energy (ASX: IFN). It spent $12 million in the last two months to accumulate this stake.

When a company lists, pre-IPO shareholders inevitably become substantial holders. Tech stock Powerwrap (ASX: PWL) listed last week and SG Hiscock and private investor Nelcan became substantial holders. On the day it listed, May 23, Regal Funds Management bought a 6.89 per cent stake for $1.1 million.

Company Code Market Cap Holder Stake Status
Wisr WZR $132.2M Adcock Private Equity 0.3226 Increasing
Somnomed SOM $113.5M Fidelity 0.0524 Becoming
Ovato OVT $35.7M Wentworth William Management 0.0532 Becoming
CML Group CGR $93.6M First Samuel 0.192 Increasing
MNF Group MNF $295.8M NAOS Asset Management 0.1994 Increasing
Reverse Corp REF $3.5M Mercantile Investment Company 0.199 Increasing
GR Engineering Services GNG $135.2M Spheria Asset Management 0.1043 Increasing
John Lyng Group JLG $306.5M Wilson Asset Management 0.056 Becoming
Sun Resources SNR $1.8M Fast Lane Australia 0.1983 Increasing
Powerwrap PWL $205.8M Nelcan Pty Ltd 0.065 Becoming
Powerwrap PWL $86.5M SG Hiscock 0.0503 Becoming
Powerwrap PWL $205.8M Regal 0.0689 Becoming
Boom Logistics BOL $69.4M Castle Point Funds Management 0.0502 Becoming
Kopore Metals KMT $6.4M Merchant Funds Management 0.05 Becoming
BTC Health BTC $14.3M NAOS Asset Management 0.1854 Increasing
Roots Sustainable Agricultural Technologies ROO $3.9M Jamber Investments 0.1275 Becoming
Equatorial Resources EQX $34.8M Westoz Funds Management 0.1096 Increasing
Xref XRF $24.1M Fidelity 0.0814 Increasing
Spicers SRS $141.9M Ayersland 0.0756 Increasing
Santana Minerals SMI $2.0M Cremourne Capital 0.0576 Becoming
Parkd PKD $3.1M Bronte Howson 0.0847 Increasing
Parkd PKD $3.1M Bryant McLarty 0.0564 Becoming
Reward Minerals RWD $14.6M Michael Ruane 0.3765 Increasing
Myer MYR $554.4M Wilson Asset Management 0.0776 Increasing
Aurelia Metals AMI $572.8M AustralianSuper 0.052 Increasing
Pantoro PNR $215.2M Robmar Investments 0.169 Increasing
Coventry Group CYG $71.8M Castle Point Funds Management 0.0575 Becoming
Alliance Aviation Services AQZ $338.9M Perpetual 0.0511 Becoming
Codan CDA $591.2M IOOF 0.0533 Becoming
Virtus Health VRT $312.7M Allan Gray 0.0842 Increasing
Infigen Energy IFN $444.8M Australian Ethical Investment 0.0528 Becoming
Crusader Resources CAS Suspended Chris Retzos 0.1334 Becoming
S2 Resources S2R $28.5M Merian Global Investors 0.0938 Becoming
Donaco International DNA $67.5M Spenceley Management 0.0504 Becoming
BTC Health BTC $17.0M Sigma Company 0.0502 Becoming
Traffic Technologies TTI $12.2M Robert Minney 0.104 Increasing
OFX Group OFX $385.6M Health Employees Superannuation Trust 0.0502 Becoming
Cradle Resources CXX $15.0M Harvest Lane Asset Management 0.0752 Increasing
Primero Group PGX $56.9M IOOF 0.1278 Increasing
KYCKR KYK $5.9M IOOF 0.0989 Increasing
Calix CXL $87.2M IOOF 0.079 Increasing
Meteoric Resources MEI $13.4M Tolga Kumova 0.1061 Increasing
Australis Oil and Gas ATS $251.2M Eley Griffiths 0.0598 Becoming
MMA Offshore MRM $167.3M Eley Griffiths 0.0672 Increasing
Nanoveu NVU $8.0M Managed Account Holdings 0.0511 Becoming
Betmakers Holdings TBH $12.4M Tekkorp Holdings 0.1999 Becoming

 

Sellers

Two ‘sell-outs’ occurred this week. First UUV Aquabotix (ASX: UUV) saw New York-based Eagles’ View Partners sell out. It spent $2.4 million during its IPO and a capital raising some months later.

But thanks to the substantial drop, it’s sold all its stake for a total of $444,000 – $118,000 last July and $326,000 last Thursday.

The other sell-out happened to investment company Lion Selection Group (ASX: LSX). Select Investments sold its entire stake for $3.3 million.

Industry Super Holdings were significant sellers this week, ceasing  to be substantial holders in cannabis play Bod Australia (ASX: BDA) and tech play Xref (ASX: XF1). Wilson Asset Management decreased its stake in City Chic Collective (ASX: CCX), selling $1.6 million in the last week. This was a fair gain but it did not quite reap as much as Nigel Evans.

IOOF decreased its stakes in Adairs (ASX: ADH), Redbubble (ASX: RBL) and Oliver’s Real Foods (ASX: OLI). It netted $4 million, $1 million and $81,000 respectively. Its Oliver’s sale was timed… unfortunately.

On the other hand, it was good timing for Regal which sold more shares in Zip Co (ASX: Z1P), bringing $12.8m to its coffers. At the start of this year such a sale would have only reaped $4 million and had it done it this week it would have netted less as the stock has begun to fall from its all time highs.

Company Code Market Cap Holder Current Stake Status
Prophecy International Holdings PRO $18.2M Microequities Asset Management 0.0833 Decreasing
Andromeda Metals ADN $14.9M Buratu (Robert Connolly Super fund 0.0989 Decreasing
Cedar Woods Properties CWP $470.3M Westoz Fund Management 0.0294 Ceasing
Chase Mining CML $6.0M GTT Global Opportunities 0.0313 Ceasing
Zip Co Z1P $1.3B Regal Funds Management 0.0512 Decreasing
RuralCo Holdings RHL $463.3M Perpetual 0.0553 Decreasing
Lion Selection Group LSX $48.0M Select Investment Partners 0 Ceasing
City Chic Collective CCX $376.8M Wilson Asset Management 0.0595 Decreasing
UUV Aquabotix UUV $1.6M Eagles View Partners 0 Ceasing
Bod Australia BDA $18.4M Industry Super Holdings 0.0484 Ceasing
Xref XF1 $104.3M Industry Super Holdings 0.0249 Ceasing
Collection House CLH $176.9M Mizikovsky Group 0.0947 Decreasing
Adairs ADH $341.7M IOOF (Perennial Fund) 0.0446 Ceasing
Timah Resources TML $4.5M Timah Pasir 0.0323 Ceasing
Olivers Real Foods OLI $5.3M IOOF (Perennial Fund) 0.081 Decreasing
Redbubble RBL $256.2M IOOF (Perennial Fund) 0.0516 Decreasing
Gib River Diamonds GIB $7.2M Mercantile Investment Company 0.0498 Ceasing
MMA Offshore MRM $167.3M Spheria Asset Mgmt 0.0444 Ceasing

 

Dilutions

These shareholders sat out of capital raisings and saw their shares in the company decline accordingly.

Company Code Market Cap Holder Past Stake Present Stake
Syndicated Metals SMD $3.3M Brickworks 0.2881 0.2743
Integrated Payment Technologies IP1 $3.0M Colin Scully, Valebark & Starmay Superannuation 0.431 0.3228
Integrated Payment Technologies IP1 $3.0M Donald Sharp 0.382 0.2863
Integrated Payment Technologies IP1 $3.0M Investment Administration Services 0.1803 0.1559
Hammer Metals HMX $7.9M Resource Capital Fund 0.0935 0.0712
BTC health BTC $14.3M Richard and Karen Treagus 0.1707 0.1372
Saturn Metals STN $14.6M Peel Mining 0.3636 0.3143
99 Wuxian NNW $81.2M Nation Pride Investments 0.07 0.0619
Pacifico Minerals PMY $14.0M Craig Chapman 0.0511 0.0487