In this new weekly column, Stockhead overviews all substantial holder filings of ASX small caps. Substantial shareholders are those holding 5% or more and these could be directors, individual investors or institutions.

Companies are required to announce when new substantial holders have come on board, when they have ceased to be shareholders or when they change their holdings. While some of these may seem minor at first glance, these show the level of confidence (or lack of) that investors hold in the Company.

Been and Gone

Animoca Brands (ASX: AB1) gained and lost a substantial holder this week.

Hong Kong investor Katherine Ching Yip bought $4.14m in shares to boost her stake from 1% to 7.7%. This transaction diluted the holdings of angel investor Startive Ventures below the 5% threshold.

After raising $417,000 and announcing it was looking for new opportunities, Factor Therapeutics (ASX: FTT) had a group of existing shareholders (led by Pura Vida Energy [ASX: PVD]) up their stake from 12% to 14.9%.

Explaurum (ASX: EXU) have been slowly been bought by aspiring acquirer Ramelius Resources (ASX: RMS) 88.9% to 92.1%. Having crossed the 90% barrier, they have announced they will acquire the Company and will complete the Offer next Friday (22 February).

Here is a wrap of all becoming or ceasing to be substantial holder notices lodged with the ASX in the last week, among small cap companies. 

Swipe or Scroll to reveal the full table. Click headings to sort.

Company Code Market Cap Buyer Stake Became or Ceased?
Gage Roads Brewing GRB $103.7m Spheria Asset Management 0.0534 Becoming
Silver Heritage Group SVH $17.7m Credit Suisse 0.0693 Becoming
Hudson Investment Group HGL $24.9m ZY Capital 0.0505 Becoming
Hudson Investment Group HGL $24.9m Waytex 0.1095 Becoming
Hudson Investment Group HGL $24.9m YLH Investment Group 0.0505 Becoming
Titanium Sands TSL $9.7m Glynn Logue 0.097 Becoming
Animoca Brands AB1 $66.9m Katerine Ching Yip 0.077 Becoming
Australis Oil & Gas ATS $344.9m H.E.S.T. Australia 0.0523 Becoming
BOD Australia BOD $31.9m Industry Super 0.0505 Becoming
Duxton Water D20 $159.6m Edouard Peter 0.102 Becoming
QMS Media QMS $237.8m Regal 0.0712 Becoming
Atrum Coal ATU $55.9m Bernard Stephens 0.0511 Becoming
Bod Australia BOD $31.9m AustralianSuper 0.0505 Becoming
IncentiaPay INP $19.2m Mohammed Ikhlaq 0.1886 Becoming
IncentiaPay INP $19.2m Ian Dustan/Chihi Trust 0.1886 Becoming
Simble Solutions SIS $7.4m Westpac 0.0501 Becoming
Tesserent Ltd QMS $237.8m Geoffrey Lord 0.098 Becoming
Cirralto Ltd CRO $4.8M Raptor Corp 6.4% Ceasing
Transaction Solutions TSN $19.3M Jane Boyatzis & Associates 5.05% Ceasing
Inabox Group IAB $2.3M Naos Asset Management 8.4% Ceasing
Incentia Pay INP $19.2M LHC Capital Partners 19% Ceasing
Tanga Resources TRL $5.1M Various 10% Ceasing
Fluence Corporation FLC $178.7M Capital Group 4.9% Ceasing
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In light of concerns over the future of the mortgage broking industry in Australia, the Commonwealth Bank reduced their stake in Mortgage Choice (ASX: MOC) from 19.81% to 18.46% – a sign that the bank has not given up on the industry but intend to hedge its bets.

Curiously, only a week ago, their primary research provider Morningstar announced their rating of Mortgage Choice was ‘Under Review’, previously ‘Buy’ with a price target of $1.50.

Additionally, the bank increased their 12.12% stake in Australian Financial Group (ASX: AFG) from 12.12% to 13.92%. While AFG could be hit by any changed, they offer a wider range of services – including insurance and business advisory. Since the Royal Commission findings were released, Hartley and Macquarie have adjusted their respective price targets to $1.42 and $1.17 respectively, both above its current price of 96 cents.

Only a few days after announcing it was looking for cannabis crop land, CropLogic (ASX: CLI) saw LTL Capital increase its stake from 5% to 8.4%.

IncentiaPay (ASX: INP) has received recapitalisation offers and while it has not revealed the identity or decided on a course of action, there are indications.

Two investors bought 18.86% stakes each in the Company, indicating they might be about to launch a bid for a greater stake.

Dateline Resources’ (ASX: DTR) two biggest shareholders, fellow miner Southern Cross Exploration and Chairman Mark Johnson increased their collective holdings from 50% to 80%.

Wilson Asset Management reduced their stake in media advertising platform provider GTN (ASX: GTN) from 6.64% to 5.63%.

Here is a wrap of all changes substantial holder notices lodged with the ASX in the last week, among small cap companies. 

Swipe or Scroll to reveal the full table. Click headings to sort.

Listed Company Code Market Cap Purchaser/Seller Previous Stake New Stake
Noni B NBL $267.0m Candence Asset Mgmt 0.0678 0.0576
Duxton Water D2O $159.6m Duxton Vineyards 0.317 0.2409
Red Bubble RBL $251.0m Martin Hosking' 0.1902 0.173
Auctus Alternative Investments AVC $9.9m Wolf Capital 0.1419 0.1277
MOD Resources MOD $84.7m LIM Asia 0.0673 0.0546
Adherium ADR $4.0m FIL Ltd 0.1 0.085
ASF Group AFA $55.7m Wai Sang Ho 0.0658 0.0565
Mortgage Choice MOC $98.1m CBA 0.1981 0.1846
Jaxsta Ltd JXT $30.5m Jaxsta 0.4256 0.4122
3D Resources DDD $2.2m Tomik Nominees (Peter & Robin Mitchell) 0.1138 0.077
GTN Ltd GTN $211.2m Wilson Asset Mgmt 0.0664 0.0563
Race Oncology RAC $6.9m William Garner 0.1752 0.1579
GTN Ltd GTN $211.2m Wilson Asset Mgmt 0.0664 0.0563
Adherium ADR $4.0m FIL 0.0846 0.0712
LiveTiles LVT $217.2m Karl Redenbach 0.2018 0.1833
LiveTiles LVT $217.2m Peter Nguyen-Brown & NIA Tech 0.1785 0.1622
VEEM VEE $65.0m IOOF 0.1232 0.1333
A2B A2B $249.3m CBA 0.0524 0.0658
Base Resources BSE $315.0m UBS 0.0638 0.0741
Dateline Resoruces DTR $13.3m Southern Cross Expl 0.3995 0.603
Dateline Resources DTR $13.3m Mark Johnson 0.1258 0.1806
Eumundi Group EBG $34.3m Phoenix Portfolios 0.0854 0.0969
Explarum EXU $82.2m Ramelius 0.889 0.921
TerraCom TER $248.1m OCP 0.1665 0.1767
Australian Finance Group AFG $206.2m CBA 0.1212 0.1392
Bounty Mining B2Y $7.0m Max Coal 0.119 0.132
Clean Seas Seafood CSS $88.9m IFM Independent Mgmt 0.0504 0.0616
OFX OFX $446.2m Selector Funds Management 0.0643 0.0757
Sipa Resources SRI $12.7m Rodiv Pension Fund 0.0638 0.1
Australias Oil & Gas ATS $344.9m Greencape Capital 0.0568 0.0693
Capitol Health CAJ $204.3m Challenger Ltd 0.0544 0.068
Revasum RVS $161.0m IOOF 0.0918 0.1109
PayGroup PYG $32.0m Macquarie Group 0.0938 0.1064
CropLogic CLI $3.9m LTL Capital 0.05 0.0837
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