The chief of gas producer and takeover target AWE just cashed in his stock for a tidy $2 mil.

David Biggs sold his 2.2 million shares into Mitsui’s takeover offer after it hit the 50.1 per cent acceptances threshold.

The New Zealander took over in 2016 and presided over a brief share spike before a long trough — then came China Energy Reserve and Chemical Group Australia’s takeover campaign in December.

CERCG offered 73c until Mitsui arrived in January with a 95c-a-share offer that blew the Chinese out of the water.

Bigtincan (ASX:BTH) director and Silicon Valley venture capitalist just got richer.

John Scull, via the fund he founded, gave up 7.6 million shares so institutions could get onto the register.

The fund made $2.7 million, pricing the share around 35c.

The deal was that Mr Scull’s funds and “other parties” would offer 9.9 million shares or 5.6 per cent of the business to institutional investors.

Mr Scull and his funds bought a small number of shares during the IPO in March 2017, priced at 26c, but received 14.9 million each as payment for convertible notes or preference shares organised before Bigtincan listed, so they no doubt had a good weekend.

Taxman comes a-calling

Directors are clearly getting a bit nervy about tax time — several sold off large chunks of their holdings to keep the taxman at bay.

Facing what must be a hell of a bill, Service Stream (ASX:SSM) managing director Leigh Mackender dumped almost half his stake — 1.3 million shares — for a whopping $2.1 million.

“The sale of shares was undertaken in order to fund income tax liabilities associated with participation in the company’s share-based incentive plan,” Service Stream said.

Invion (ASX:IVX), the company that wants to use light therapy to cure cancer, watched as its chief medical officer drop 10 million shares on the market over three days.

Dr Mitchell Glass made $339,000 from the sales and still has 8.7 million shares. He said it was to cover tax and promised not to do it again “in the immediate future”.

And DigitalX (ASX:DCC) director Toby Hicks shed half of his shareholding — 650,000 shares — for $113,750, also for tax-planning.

In February Mr Hicks converted a slice of 8c options into shares, and on paper at least was worth $333,500.

Notable excesses

Magnum Mining (ASX:MGU) chief Grant Button sold 1.5 million shares to pay back a loan he’d taken out to participate in the Employee Share Plan.

Although he didn’t say how much the sale reaped, on the day Mr Button sold at best he could have made $81,000. At worst he’d have made $75,000.

Bass Oil (ASX:BAS) had to have another go at telling the market at what director Mark Lindh did this week: first it tried to say he sold $10,500 of shares, then upgraded that to $100,000.

The sale was at 0.4c a share. Mr Lindh, who as co-principal of Adelaide Equity Partners is a finance rather than than an oil guy, owns 6.8 per cent of the company.

The big spenders

It was a case of the big spenders at BTC Health (ASX:BTC) last week.

Director Peter Jones spent $200,000 buying 1 million shares but chairman Richard Treagus spent $800,000.

Mr Treagus, the ex-chief of biotech Acrux, now controls 17.07 per cent of the company via a trust in his wife Karen Treagus’s name.

Interpose Holdings (ASX:IHS) shares doubled after it said it was acquiring an 80 per cent stake in “potentially the largest, seismically defined, undrilled hydrocarbon structure onshore Africa”.

Interpose has struck a deal to acquire Invictus Energy Resources, which owns the stake in the permit that covers 250,000 acres in the Cabora Bassa Basin.

Interpose’s three directors had to compete for shares on Wednesday and Thursday after the news was released.

Barnaby Egerton-Warburton bought at 5c, Eric de Mori at 4.9c and Gabriel Chiappini at 4.8c.

In the last 12 months Interpose’s share price was lucky to crack 3c. It’s currently trading at levels not seen since early 2016.

Each director used the opportunity to add 200,000 to 550,000 shares to their holdings.

Legend Mining (ASX:LEG) managing director has acquired 2.7 million shares in his company via a unique arrangement: he has taken power of attorney over his mother’s shareholding.

He now controls 128.7 million, which in a company with billions of shares on issue only accounts for 6.3 per cent of the business.

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