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.
Australia’s secondary share market, the NSX (ASX:NSX), welcomed a new substantial holder this week. Hong Kong-based company United Capitals bought an 11.9 per cent share.
While Gina Rinehart’s Hancock Prospecting is a private company, she owns stakes in a few ASX small caps. One of these is gold explorer Catalyst Metals (ASX:CYL) and she put more of her money into it last week – upping her ante to 14.78 per cent.
Ed-tech stock Schrole Group (ASX:SCL) saw Capital H Management increase its stake to 12.2 per cent.
Also among fund manager trades this week, Perpetual topped up its holdings in furniture retailer Nick Scali (ASX:NCK) and Samuel Terry Asset Management bought more of digital marketing play Salmat (ASX:SLM).
Mariner Corporation (ASX:MCX) recently raised $2.4m to extinguish its debts, and taking a whopping 71.41 per cent stake was Panshan Capital. Little information is available about Panshan except that it is based in Sydney.
Nearly two years after Rhythm Biosciences (ASX:RHY) listed, 38 per cent of its capital is due to come out of escrow.
Formerly its largest holder, Merchant once held as much as 8 per cent of this company. But it has been gradually selling and has fallen below 5 per cent.
Australian Ethical Investment reduced its stake in Prescient Therapeutics (ASX:PTX), while Regal Funds Management did likewise with Wellness and Beauty Solutions (ASX:WNB).