Trading Places: The substantial holders that bought & sold this week
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In this week’s recap of substantial shareholders, Fidelity buys into Piedmont Lithium (ASX: PLL), AustralianSuper increases its stake in Syrah Resources (ASX: SYR) and Schroder invests in Western Areas (ASX: WSA).
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.
This week’s biggest buy was Fidelity’s purchase of 9 per cent of Piedmont Lithium (ASX: PLL). It cost over $10 million. The purchase was part of a $21 million capital raise.
Only yesterday the North-Carolina focused company released test-work from its current pre-feasibility study showing there is potential for high-grade lithium from its site.
According to the company, Australian Super bought enough shares to maintain its 13 per cent stake although its substantial holder notice has not yet been filed.
Australian Super has lodged a notice for its top-up of Syrah Resources (ASX: SYR). It now owns 16.52 per cent of the Mozambique-focused graphite explorer.
Schroder bought a 5.1 per cent stake in nickel miner Western Areas (ASX: WSA), paying $3.5 million in the transaction that bought it over the 5 per cent threshold. The company is still some months away from commencing the project but is working hard on infrastructure.
Among our small cap fund managers Regal Funds Management now owns 9.91 per cent of outdoor media company QMS Media (ASX: QMS), buying $1.3 million in stock this week. It also became a substantial holder of Spirit Telecom (ASX: ST1), owning a 5.01 per cent stake costing it $2.1 million.
Spheria Asset Management increased its stakes in Vita Group (ASX: VTG) and HT&E (ASX: HT1) to 13.97 per cent and 9.91 per cent. Across these two companies it forked out $3.3 million.
Westoz Funds Management increased its stake in Kingsgate Consolidated (ASX: KCN) to 7.08 per cent.
Recent board appointee to Kiwi education company Evolve Education (ASX: EVO), Chris Sacre bought a 6.39 per cent stake in the company for $2 million.
The one company that saw a shareholder cease to be substantial was Droneshield (ASX: DRO). Eagle’s View Capital held over 12 per cent of the company but now only holds 4 per cent after $582,000 in sales.
Also decreasing their holdings was founder Brian Hearing who sold $304,000 to take his stake to 5.51 per cent.
Another notable seller was Gina Rinehart who reduced her stake in Lakes Oil (ASX: LKO) to 8.83 per cent, selling $100,000 in shares.
Lev Mizikovsky sold $1.7 million of his stake in Collection House (ASX: CLH), reducing his share to 6.38 per cent.
Marley Spoon (ASX: MMM) recently gained Woolworths as a substantial holder but AKW Capital have reduced its stake to 13.19 per cent.