Bosses, M2 on parallel paths
But who would begrudge him that sort of moolah? After all, the scrip was fetching under 50¢ in 2009 and now Bowen is taking a little bit off the table at $5.45 a share.
Elsewhere in the M2 boardroom, chairman Craig Farrow also sold a few shares at $5.55 in what has been a very, very profitable exercise for all concerned.
According to whatever measure took your fancy, M2 increased earnings by anywhere between 47 per cent and 99 per cent in the December half.
The group has been on the takeover trail since then and the acquisitions are tipped to help "underlying" earnings a share increase about 20 per cent for the 2014 financial year. Bowen retains a useful $28 million-plus of stock, while Farrow has nearly $3 million of paper.
Elsewhere in the scrip appreciation department, Caltex managing director Julian Segal took some fruit off the tree following a strong run-up in the share price over the past few years.
Richard Collins, a non-executive director of carsales.com, sold some shares, joining chairman Walter Pisciotta as a recent seller.
The overall scorecard registered $1.8 million to $14.9 million in favour of those doing some selling.
On the funds manager and former investment banking fronts, Mark Johnson, one-time Macquarie Bank heavy, opened his account at Conto Resources.
He was appointed executive chairman of the junior gold explorer last month; the company is valued at $3.4 million.
David Slack, former Portfolio Partners heavy, was also in penny territory when he bought 2 million shares in Advanced Braking Technology at 1.6¢ apiece.
The group's main market for its braking system is the mining sector, and it lost $800,000 for the December half-year and was in negative cash-flow territory.
Frequently Asked Questions about this Article…
M2 Telecommunications saw senior insiders selling recently. Vaughan Bowen, the group’s strongman, has collected nearly $25 million from share sales over the past couple of years and sold shares at about $5.45 each. Chairman Craig Farrow also sold some shares at about $5.55.
M2 reported a strong December half, with earnings increases reported in a range between about 47% and 99% depending on the measure used for that half-year period.
The article notes M2 has been buying businesses since the December half and those acquisitions are tipped to help underlying earnings per share increase by roughly 20% for the 2014 financial year.
Despite recent sales, Vaughan Bowen still retains a useful holding worth over $28 million, while chairman Craig Farrow holds nearly $3 million of M2 stock.
Caltex managing director Julian Segal sold some shares. The article highlights his sale came after a strong run-up in Caltex’s share price over recent years.
At carsales.com, non-executive director Richard Collins sold some shares, joining the company’s chairman Walter Pisciotta as a recent seller.
Mark Johnson, a former Macquarie Bank figure, was appointed executive chairman of junior gold explorer Conto Resources last month. The company is valued at about $3.4 million.
David Slack bought 2 million shares in Advanced Braking Technology at 1.6 cents each. The group, whose main market for its braking system is the mining sector, lost $800,000 for the December half-year and was in negative cash-flow territory.
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