Small cap director trades: who’s buying and selling their own stock
Here’s which ASX small cap directors were buying or selling their own stock in the first week of July
Winha Commerce and Trade (ASX:WQW) chairman Zhuowei Zhong continued to sell last week — just before the company said it would be delisting from the ASX.
At the end of June he sold $1.4 million of shares, and in the first week of July he got rid of $2.2 million shares, both off-market trades.
On Friday it emerged Winha had settled legal action against the ASX over threats to delist Winha, and would voluntarily leave the market in September.
The ASX suspended Winha in December after issuing queries to all Chinese companies on the bourse about whether they were or had encountered any problems repatriating money to Australia, after Chinese government curbs on offshore spending.
Mr Zhong now has two months to try to offload the other 39 million shares he controls.
An ASX spokesman told Stockhead they formed the view that it was appropriate to remove Winha from the official list, but are constrained by the legal proceedings against saying anything else.
Buy the man not the ball
If you’re a ‘personality investor’, David Williams — boss of Kidder Williams which just birthed Rate My Agent onto the ASX — is perhaps one to watch.
He’s the chair of Rate My Agent (RMA Global, ASX:RMY) and was buying in a private capacity last week, shoring up the stock after a disappointing debut.
He bought 850,000 shares for $175,000 for his company Moggs Creek.
Mr Kidder, through his advisory firm and two other entities has effective control over 29 per cent of RMA Global.
He also chair of Medical Developments International (ASX:MVP) and PolyNovo (ASX: PNV).
Buying the dip
Since Raiz — formerly Acorns — listed last month the directors have been going a bit nuts on the buying front.
Only one notice has been for a substantial buy-in though, and that was from the boss George Lucas — no relation to the director, he’s assured us in the past.
In the last week of June he spent $114,5000 on 6.7 million shares.
All that buying by all directors hasn’t helped though. Since listing Raiz (ASX:RZI) has touched its offer price of $1.40 once and has slipped ever lower to $1 on Friday.
DigitalX (ASX:DCC) chairman Peter Rubenstein last week bought 1.5 million shares in the blockchain and crypto play for $126,000.
At its peak in January DigitalX was worth 44c. It’s now trading at about 10c.
Mr Rubenstein controls 3.6 per cent of DigitalX, but could lift that to 4.9 per cent if 17 convertible notes turn into stock in September.
Marc Vogts, a director at lithium-ion battery wannabe Magnis Resources, spent $203,500 on stock last week. He bought 550,000 shares and now owns 864,759.
White Energy (ASX:WEC) chairman Travers Duncan and managing director Brian Flannery both bought 6.9 million shares for $205,500, adding to their already-sizable stakes.
Mr Duncan owns 40 million shares and Mr Flannery 35 million — 23 per cent of the coal miner.
The stock finished at 5c, meaning they each made a $137,000 paper profit.
As directors of more than 10 companies watched their options and performance rights expire last week, Dubber (ASX:DUB) CEO Steve McGovern managed to salvage 250,000 of his.
He spent $100,000 exercising them, but lost another 950,000.
He’s left with 6 million shares and 1.5 million performance rights expiring next year.
Berkeley Energia (ASX: BKY) chief and managing director Paul Atherley spent GBP300,000 ($536,000) on 2 million shares. He too was exercising options about to expire.
He now owns 3.4 million shares in the Spain-bound uranium miner.
It has taken three weeks for XPD (ASX:XPD) ex-director Jiameng Zhang to send in his change of interest notice to the ASX.
Mr Zhang quit last week, alongside Tony Lu, in an effort to keep the company listed on the ASX.
His stake is owned through Chao Qin International Co, which on June 16 said it had sold down — a week earlier — from 21 per cent of XPD to 16 per cent.
Mr Zhang’s notice appeared on July 5.
XPD has been in trouble with the ASX for some time, and the market operator ran out of patience in April telling it to shape up or ship out.