Trading Places: Here are this week’s substantial shareholder movements

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In this weekly column, Stockhead overviews all substantial holder filings of ASX small-caps. Substantial shareholders are those holding 5% or more and these could be directors, individual investors or institutions.

Companies are required to announce when new substantial holders have come on board, when they have ceased to be shareholders or when they change their holdings. 

Entrances and Exits

On rare occasions, ASIC can be an investor and this happened with Tribune Resources (ASX: TBR).

In September, the Takeovers Panel investigated a proposed acquisition of the company and found some substantial shareholders had not been truthful about the size of their holdings.

The Commonwealth took 19.9% stake of Rand Mining in late November.

Last Monday, ASIC sold the stake to Evolution Mining for $41.3 million, although they will remit the proceeds (less brokerage) to Rand. Evolution Mining have announced the purchase to their shareholders but have withheld the reasons for their purchase.

Notwithstanding what we reported on Monday that shareholders of suspended stocks can get ‘trapped’ their holdings – in that they cannot be sold ‘on market’ – it did not stop Pancontinental Oil and Gas buying a 9.3% stake in Raven Energy (ASX: REL).

The biggest purchase came from Malaysian institution Leading and Junction which took a 21.8% stake in glove maker VIP Gloves (ASX: VIP), despite no news coming out of the company this year.

The biggest cessation was in Duxton Water (ASX: D2O) where the spin-off agriculture company, Duxton Vineyards, sold most of their 19.59% stake. They still hold 4.5% but have fallen below the ‘substantial shareholder’ definition.

Baby store operator Baby Bunting (ASX: BBN) welcomed a major institution, Yarra Funds Management, as a shareholder with a 5.03% stake, as did Helios Energy (ASX: HE8) with Credit Suisse coming aboard with 5%.

A busy fortnight in IPOs has led to a number of initial holders in those companies. One was African Gold (ASX: A1G), which saw three directors – Steve Parsons, Tolga Kumova and John Cranston – acquire 9.98% each.

Another was Candy Club (ASX: CLB) whose biggest shareholder will be company director and venture capitalist Chi Kan Tang with 15.23%. Two other substantial shareholders, with 6.54% each, are venture capitalist firm Sabone Internet and founder Keith Conh’s de facto partner Neysa Demann.

AustralianSuper run the retirement savings of over 2 million Australians so any substantial investment by them is worth noting. This week, they bought a 6.94% stake in Vitalharvest Freehold Trust (ASX: VTH). Members won’t have to wait long to see the prudence of this investment with earnings being released today (Thursday).

UPDATE: Vitalharvest have announced a comprehensive loss of $8.1 million since their IPO. The Company has blamed various factors including an impairment loss, a restructure and IPO costs. They have nonetheless declared a dividend of 4 cents per unit.

Other notable transactions were Acorn Capital selling its 5.8% stake in Range International (ASX: RAN) and Regal Funds Management selling their 5.03% stake in Jupiter Mines (ASX: JMS).

Here is a wrap of all becoming or ceasing to be substantial holder notices lodged with the ASX in the last week, among small cap companies.

Swipe or Scroll to reveal the full table. Click headings to sort.

Changers

Rameulis (ASX: RMX) continued its takeover of Explaurum (ASX: EXU), upping its stake from 93.21% to 95.58%. After giving Explaurum shareholders a time frame to voluntarily sell their shares, it will now use compulsory acquisition powers to acquire them.

Two shareholders of Technology Metals (ASX: TMT), Station Nominees and Twentieth Century Motor Company, reduced their combined stake from 31.8% to 22.8%. While a recent placement did dilute these stakes, both companies sold 6.65 million shares through a couple of off-market transfers over the holiday period. This netted the pair over $2 million between them.

Hazer Group (ASX: HZR) saw former CEO Geoff Pocock, who quit in April, reduce his stake from 7% to 5.9%. Another former director who sold shares was former E2 Metals (ASX: E2M) director Gregory Seers who reduced his stake from 19.4% to 15.53%.

Perpetual were an active fund manager this week upping their 13.78% stake in Elanor Investor Group (ASX: ENN) to 14.78%. They also hiked their stake in Qantm Intellectual Property (ASX: QIP) from 9.19% to 10.33% and in ERM Power (ASX: EPW) from 5.62% to 6.63.

Acorn Capital reduced its 8.47% stake in Integrated Payment Technologies (ASX: IP1) to 6.26% and its 6.49% stake in Vimy Resources (ASX: VMY) to 5.49%. Australian Super reduced its 6.42% stake in Aurelia Metals to 5.31%.  

After the Royal Commission, the Commonwealth Bank has been looking for safer ways to care for families than lend money. It seems their quick fix was to invest in Baby Bunting (ASX: BBN) because its 7.29% stake is now 8.29%.

IOOF Holdings also upped its stake in Baby Bunting, from 6.22% to 7.85%. It also increased their stake in Latam Autos (ASX: LAA) from 13.04% to 14.08% and reduced its stake in Pacific Energy (ASX: PEA) from 11.06% to 9.88%.

Here is a wrap of all changes substantial holder notices lodged with the ASX in the last week, among small cap companies.

Swipe or Scroll to reveal the full table. Click headings to sort.

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