Director Trades: Who’s selling and who’s buying?
Director Trades
Director Trades
Here’s our weekly look at which ASX small cap directors bought or sold their own stock (August 20-24):
BUYERS
Two the biggest buyers of their own stock are Anthony Leibowitz at Ensurance and Michael Ruane at Reward Minerals.
Last week, Mr Liebowitz bought another 750,000 Ensurance shares (ASX:ENA), meaning he owns 14.45 per cent of the company.
At $28, 500 it was at the smaller end of his usual purchases. He has bought into Ensurance nine times since being appointed chair in May.
Mr Ruane sank another $1.5 million into potash play Reward (ASX:RWD) partly via a rights issue and on market trades, giving him 33 per cent of the company. He has made some 73 trades in Reward over the years.
Mr Leibowitz told Stockhead he picks up stock whenever he can as he thinks Ensurance is “the next QBE”.
>> Scroll down for a table of last week’s small cap director trades
He says the company has had a tumultuous three years with less-than-stellar management. Now they’ve tidied it up and are working with a strategy that will deliver “huge upside”.
Mr Leibowitz’s track record includes Pilbara Minerals (ASX:PLS) and recruiter Chandler Macleod, which was sold in 2015 for $290 million to Japanese group Recruit.
Reward Minerals
Reward’s Michael Ruane also has form among ASX companies: he was a chairman of Helloworld’s (ASX:HLO) predecessor, floated Altura Mining (ASX:AJM) and Millennium Minerals (ASX:MOY), and is still a substantial shareholder in Intermin Resources (ASX:IRC).
Reward, with its Lake Disappointment potash project, is “way too cheap” so he buys when he can, he says.
He is very optimistic where others clearly have not been — he says they’ve “copped a fair bit in the marketplace” lately.
“This is a cracker of a project we’ve got and at the end of the day I’m going to make ten million bucks,” he told Stockhead.
“I’m sure there will be bigger players interested in the not so distant future.”
Thorney Opportunities (ASX:TOP) magnate Alex Waislitz spent $753,000 on market for 1.12 million shares. He now owns 29 per cent of that particular fund.
PolyNovo (ASX:PNV) chair David Williams bought in again. Mr Williams is another big hitter who is heavily involved in ASX newcomer RMA Global (ASX:RMA) and is one of Sienna Diagnostics’ (ASX:SDX) newest substantial shareholders.
SELLERS
The biggest deal last week was Nigel Garrard selling his Orora (ASX:ORA) shares for $6.4 million.
He exercised 1.1 million options which cost $1.4 million and converted 739,500 share rights, which cost nothing.
He then sold the lot, making a tidy profit and still having 6.2 million rights and options left over.
Alliance Aviation (ASX:AQZ) directors are taking advantage of a 20 per cent share price surge in early August.
Over two days the stock popped up to $2.38, a high achieved only once before, in 2012.
Chairman Stephen Padgett and managing director Scott McMillan chose to sell.
Mr Padgett knocked out a $909,000 profit and Mr McMillan made just under $640,000.
With Qantas posting a profit last week as well, 2018 could well be a rare year when it’s good to own an airline.
Atrum Coal (ASX:ATU) directors have been fairly active buyers this year — but none more so than Charles Fear.
He made his seventh trade since May last week. Sometimes he’s buying shares, sometimes it’s options, a couple of times it was as part of a capital raising.
Now he owns 6.24 million shares and 8 million options.
SORRY
Kingsrose Mining (ASX:KRM) had to apologise for its director Grant Mills trading in a blackout period in mid-August.
It said he got verbal, but not written clearance, and says they aren’t going to do anything about it bar remind directors that they aren’t allowed to trade in blackout periods.
“Kingsrose Mining acknowledges that there has a been a breach of its Securities Trading Policy,” the company said in an ASX announcement relesed on August 20.
“After considering the matter, the Board (other than Mr Mills and Mr McIllree) has decided that KRM will not take disciplinary or remedial action in relation to the breach and regards the breach as minor and technical.”
AssembleBay (ASX:ASY), which is becoming a vanadium company after failing as an on-demand IKEA erector, failed to get its option expiry notices in on time, as did Acacia Coal (ASX:AJC).
Contango Asset Management (ASX:CGA) blamed “administrative oversight” for a 3Y that should’ve gone out in March.
Here’s a table of last week’s small cap director trades:
Scroll or swipe for full table. Click headings to sort
ASX code | Company | Director | Change | Date | Volume | $ Value | Where | Total holdings controlled |
---|---|---|---|---|---|---|---|---|
ATU | Atrum Coal | Charles Fear | Buy | August 14 | 1m | 75000 | On market | 6.24m |
BAT | Battery Minerals | Gilbert George | Buy | August 20 | 500,000 | 15151 | On market | 9.2m |
BOA | Boadicea Resources | Domenic De Marco | Buy | August 17 | 2500 | 300 | On market | 148,500 |
EAR | Echo Resources | Anthony McIntosh | Buy | August 14-17 | 150,000 | 24000 | On market | 8.4m |
EVN | Evolution Mining | Jacob Klein | Buy | August 17 | 968,607 | 0 | Converting performance rights | 13.7m |
GFI | Global Fortune Investment | Yuan Lin | Sell | August 15 | 2m | 500000 | Off market | 41.5m |
HUO | Huon Aquaculture Group | Peter Bender | Buy | August 16 | 22,000 | 98741 | On market | 57.7m |
HUO | Huon Aquaculture Group | Frances Bender | Buy | August 16 | 22,000 | 98741 | On market | 57.7m |
HXG | Hexagon Resources | Charles Whitfield | Buy | August 15-16 | 215,110 | 32517 | On market | 4m |
IFM | Infomedia | Jonathan Rubensztein | Buy | August 20 | 238,707 | 0 | Exercise performance rights | 1.3m |
KRM | Kingsrose Mining | Grant Mills | Buy | August 16 | 400,000 | 21000 | On market | 410,000 |
NVA | Nova Minerals | Dennis Fry | Buy | August 15 and 17 | 664,250 | 15277 | On market | 1.8m |
PNV | PolyNovo | David Williams | Buy | August 20 | 500,000 | 269985 | On market | 16.3m |
SLZ | Sultan Resources | Eddie King | Buy | August 16 | 50,000 | 9250 | On market | 50,000 |
TNO | Tando Resources | Bill Oliver | Buy | August 16 and 17 | 240,000 | 40221 | On market | 240,000 |
TOP | Thoney Opportunities | Alex Waislitz | Buy | August 14 | 1.12m | 753760 | On market | 59m |
AQZ | Alliance Aviation Services | Scott McMillan | Sell | August 14 | 282,183 | 638849 | On market | 4.4m |
CIA | Champion Iron | William O'Keeffe | Buy | August 21 | 751,900 | 0 | Exercise share rights | 36m |
COE | Cooper Energy | Alice Williams | Buy | August 21 | 13,350 | 6341 | On market | 179,444 |
COI | Comet Resources | Anthony Cooper | Buy | August 20 | 4.65m | 121650 | Converting options and shareholder approved shares | 6.8m |
NEW | New Energy Solar | Alan Dixon | Buy | August 15 and 17 | 36,147 | 51157 | Dividend reinvest and share pruchase plan | 7m |
NEW | New Energy Solar | Alex MacLachlan | Buy | August 15 and 17 | 12,984 | 18370 | Dividend reinvest and share pruchase plan | 102,879 |
NEW | New Energy Solar | Jeffrey Whalan | Buy | August 17 | 21,186 | 29999 | Share purchase plan | 521,552 |
MEW | New Energy Solar | John Martin | Buy | August 15 and 17 | 27,447 | 34378 | Dividend reinvest and share pruchase plan | 529,672 |
SCI | SciDev | Kieran Rodgers | Buy | August 11 | 16.7m | $100,000 | Share placement | 40.2m |
WNR | Wingara AG | Mark Hardgrave | Buy | August 20 | 100,000 | 26000 | On market | 242,857 |
AFT | AFT Pharmaceutical | James Burns | Buy | August 21 | 25,000 | 51473 | On market | 125,417 |
BKY | Berkeley Energia | Nigel Jones | Buy | August 20 | 35,000 | 27112 | On market | 35,000 |
FWD | Fleetwood Corporation | Philip Campbell | Buy | August 20 | 11,000 | 19800 | Entitlement offer | 26,000 |
FWD | Fleetwood Corporation | Brad Denison | Buy | August 20 | 143,954 | 259116 | Entitlement offer | 189,418 |
G88 | Golden Mile Resources | Rhoderick Grivas | Buy | August 15-20 | 44,750 | 11603 | On market | 115,750 |
GBT | GBST Holdings | Deborah Page | Buy | August 20 | 6,000 | 12000 | On market | 32,500 |
GTE | Great Western Exploration | Kevin Somes | Buy | August 20 and 21 | 5.1m | 36184 | On market | 55.8m |
HSN | Hansen Technologies | David Trude | Sell | August 22 | 10,617 | 38008 | On market | 100,000 |
KGN | Kogan | Greg Ridder | Buy | August 21 | 8,000 | 49095 | On market | 160,500 |
LAM | Laramide Resources | Marc Henderson | Buy | August 16 | 50,000 | 15224 | On market | 12.2m |
TBH | The Betmakers | Todd Buckingham | Buy | August 21 | 440,000 | 35200 | Entitlement offer | 5.8m |
APC | Australian Potash | Matthew Shackleton | Buy | August 8 | 357,500 | 25025 | Shareholder approved purchase | 3.6m |
BGL | Bellevue Gold | Michael Naylor | Buy | August 22 | 500,000 | 0 | Converting performance rights | 500,000 |
CAT | Catapult Group International | James Orlando | Buy | August 20, 21 and 22 | 25,000 | 28918 | On market | 80,000 |
CZI | Cassini Resources | Gregory Miles | Buy | August 23 | 200,000 | 13400 | Exercise options | 3.4m |
ENA | Ensurance | Anthony Liebowitz | Buy | August 23 | 750,000 | 28534 | On market | 50.3m |
GGG | Greenland Minerals | Anthony Ho | Buy | August 23 | 250,610 | 19046 | On market | 3.2m |
GGX | Gas2Grid | Dennis Morton | Buy | August 22 | 16.45m | 49350 | Off market transfer between holdings | 180m |
ORA | Orora | Nigel Garrard | Sell | August 16-22 | 1.9m | $6.4m | Exercising options and rights and sold on market | 3.9m |
RWD | Reward Minerals | Michael Ruane | Buy | August 22 | 8.4m | $1.5m | Rights issue and on market | 50.2m |
RWD | Reward Minerals | Rodney Della Vedova | Buy | August 22 | 4000 | 720 | Rights issue | 74,000 |
SLR | Silver Lake Resources | Luke Tonkin | Buy | August 23 | 2.2m | 0 | Vested performance rights | 2.2m |
TOM | Tomizone | Matt Adams | Buy | August 20 | 11.7m | 0 | Shares in payment for fees | 11.7m |
TOM | Tomizone | Mark Ohlsson | Buy | August 20 | 1.3m | 0 | Shares in payment for fees | 1.3m |
VTG | Vita Group | Paul Wilson | Sell | August 22 | 180,282 | 204547 | On market | 73,375 |
VXR | Venturex Resources | Anthony Reilly | Buy | August 21-22 | 1.875m | 22642 | On market | 48.8m |
AQZ | Alliance Aviation Services | Stephen Padgett | Sell | August 21 | 400,000 | 909000 | On market | 7.2m |
BKY | Berkeley Energia | Paul Atherley | Sell | July 31 | 175,378 | 135041 | On market to meet the cost of exercising options | 3.2m |
REX | Rex Minerals | Mitchell Hooke | Buy | August 24 | 666,000 | 91358 | Exercise options and off market transfer | 1.4m |
SDI | SDI | Gerald Bullon | Buy | August 24 | 20,000 | 11751 | On market | 272,716 |
PSC | PSC Insurance Group | John Dwyer | Buy | August 23 | 110,000 | 330000 | On market | 35.4m |