Trading Places: The moves substantial holders were making this week
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Trading Places is Stockhead’s weekly recap of substantial holder transactions among ASX small caps.
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.
The latter company, listed on the ASX but suspended for several months and at loggerheads with the bourse, last month bought a stake in the NSX seeking to develop a delivery versus payment (DvP) platform.
Last week Probanx, bought a 13 per cent stake in Australia’s secondary market. Probanx is a banking software company that was acquired by iSignthis back in September 2018 but continues to operate independently.
In the same week billionaire investor Alex Waislitz said he was continuing to look long-term, his company topped up its holdings in organic dried fruit maker Murray River Organics (ASX:MRG) to over 40 per cent as part of a $25m rescue package.
The deal took place last month but the deal was only implemented last Thursday, and the stock — having been suspended for several weeks while this was undertaken — fell 76 per cent accordingly.
Also buying into Murray River Organics was Regal Funds Management, which now owns 19.78 per cent. It also bought more of fast food franchisee Retail Food Group (ASX:RFG).
Spheria Asset Management reduced its stake in Gage Roads Brewing (ASX:GRB) to just 6.5 per cent.
A Race Oncology (ASX:RAC) director sold just over $1m in stock, reportedly to a strategic investor.