ASX small cap director trades: who’s profit-taking and who’s chipping in more cash
Here’s our weekly look at which ASX small cap directors are buying or selling their own stock (week of Sep 24):
Jumbo Interactive (ASX:JIN) chief Mike Veverka continued a run of exercising options and then selling down.
He spent $525,000 to exercise 150,000 options before selling 142,733 shares and banking just over $1 million.
Jumbo is an internet lottery business with operations in Australia and Germany.
The chairman of car loan provider Money 3 (ASX:MNY), Ray Malone, bought 300,000 shares for $659,093 and sold 636,957 shares for $1.4 million.
Managing director Scott Baldwin, meanwhile, exercised a bunch of options for a cash component of $374,014 and a non-cash component.
Gulf Manganese (ASX:GMC) director Sam Lee offloaded 16.2 million shares on-market, pocketing $320,603.
Gulf noted the change in Mr Lee’s indirect interested occurred between September 4 and 13, but the notice was lodged late due to an administrative oversight by the company.
The company is building Indonesia’s first ferro-manganese smelter, which it expects to begin commissioning before the end of this year.
About 90 per cent of manganese goes into steel-making and Gulf will be producing ferro-manganese – a ferro-alloy with a high content of manganese used to deoxidize steel.
One of the bigger buys of the week was done by a director of winemaker Australian Vintage (ASX:AVG).
Jiang Yuan bought about 1.3 million shares at a cost of $783,584.
Another director, Peter Perrin, also bought shares, spending $16,331 for 27,219 shares.
Pacific Smiles Group (ASX:PSQ) directors Ben Gisz and Hilton Brett spent $282,051 and $22,134, respectively, on picking up more shares in the dental chain on-market.
Alan Tribe, the chairman of drug delivery developer Phylogica (ASX:PYC), bought 9 million shares for $256,500 off-market.
Phylogica recently raised a further $9.1 million to accelerate its path towards first in human trials of its cell penetrating peptides.
PolyNovo (ASX:PNV) chairman David Williams bought $84,375 worth of shares on market via his super fund, while director Bruce Rathie stumped up $248,617 for shares through his super fund.
PolyNovo’s product suite includes novel wound dressing as well as in-development orthopaedics and hernia repair treatments.
In April, the company also announced a development program for a breast reconstruction device.
Specialty Fashion Group (ASX:SFH) director Michael Hardwick sunk $129,871 on acquiring an extra 100,000 shares on-market.
Magnis Resources (ASX:MNS) director Marc Vogts handed over $100,050 for 300,000 shares in the battery hopeful and graphite miner in an on-market trade.
Magnis is one of the busiest companies on the ASX, with projects ranging from graphite mining in Tanzania to developing new battery technology to building factories around the world.
The company recently signed a deal with a Singaporean venture to use its batteries in a new sports car dubbed the ‘Dendrobium’.