Why give Easter eggs when you can give shares?
The chairman of 4DS Memory (ASX:4DS), James Dorrian, gave a huge pile of shares to his children just before the Easter hols.
He transferred 1 million shares, which on Friday afternoon would have been worth $61,000.
(The shares fell from 6.9c to 6c last week. If the kids had sold on Tuesday they’d have been $13,000 richer).
Meanwhile over at Bravura Solutions (ASX:BVS) it looks like a family transaction wasn’t so straightforward.
CFO Martin Deda transferred 159,700 shares from the Deda Family Superannuation Fund to the Bettina Deda Superannuation Fund “pursuant to Family Court orders issued on
23 March 2018”, the company said in an ASX announcement.
Mr Deda now owns 667,098 shares.
Buy the dip
It seems there are some winners out of the Blue Sky dust up with Glaucus Research, and it’s not just the short sellers.
Four directors, including the chairman and managing director, took advantage of the share price collapse to buy $548,000 of shares on market last week.
Blue Sky’s market cap dropped by more than half after Glaucus Research last week announced it was shorting the stock, alleging Blue Sky wrongly calculated the value of assets under management and charged exorbitant fees.
Blue Sky has rejected the claims in an ASX announcement as “materially misleading”.
The affair has laid waste to Blue Sky’s share price — the shares fell 49 per cent in the seven days to Friday.
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Spitfire (ASX:SPI) director Neil Biddle is edging ever closer to owning 20 million shares in the company.
Last week he sank another $200,000. His buy-ins have settled into a monthly routine after a flurry in January.
Mr Biddle now owns 14.9 million shares.
Elsewhere, Magnis Resources (ASX:MNS) director Johann Jooste-Jacobs sold $109,000 shares — to deal with a tax debt caused by shares and options given to him by the company.
Mr Jooste-Jacobs now owns 5.3 million shares (worth at the end of last week $2.2 million) and 1 million options.
Paper millionaires
The CEO and managing director of EML Payments (ASX:EML) spent $201,000 on shares last week, buying 175,000 on market.
He now owns 16.8 million shares, making him well and truly a millionaire with a paper fortune of $19.4 million (based on Friday’s price).
Orion Metals (ASX:ORM) directors Yi Yang and Feng Wu each converted 20 million 0.5c options expiring in June into shares.
The company closed last week at 2c, meaning both just made a paper profit of $300,000.
Both directors own 260 million shares and have 140 million options still up their sleeve.