Trading Places: Here are this week’s substantial holder movements
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Trading Places is Stockhead’s weekly recap of substantial holder movements among ASX small caps, and fund managers feature prominently in this week’s edition.
Substantial shareholders are shareholders holding 5 per cent or more of a company’s shares and these can be directors, individual investors or institutional investors.
Shareholders are required to announce to the exchange when they cross above or below the 5 per cent threshold and any change in their holdings while they remain above 5 per cent.
Zoono (ASX:ZNO) is more than a 20 bagger with investors demanding the stock in much the same fashion customers are scrambling for the hand sanitiser maker’s products.
This week Regal Funds Management came to the table, buying over $20m in stock, which equates to just over 9 per cent of the company. Regal also became substantial holders of buy now, pay later stock Zip Co (ASX:Z1P) and Imcor Medical Systems (ASX:IMR).
Regal’s $22m worth of Zoono shares came from none other than the company’s CEO, Paul Hyslop.
But Hyslop still owns 41 per cent of the company and apparently fund managers like Regal were desperate to buy in. The sale paid back a loan Hyslop had made to Zoono.