Computershare's founder in second big scrip sell-off

He collected nearly $24 million following the release of the share registry keeper's interim result which showed "management-adjusted" earnings were up 20 per cent to $174.4 million.

Mr Morris' sales were done at an average of $11.92, and the scrip is now at $11.89 after yesterday selling up to $12.19.

This is the second big swag of Computershare scrip sold by Mr Morris in recent times; six months ago he disposed of nearly 2.9 million shares at $10.19 apiece raising slightly more than $29 million.

At the time, the company said the sales were to help him fund acquisition of the Cornerstone hotel group, adding that about 2 million shares would be sold and he would continue to hold more than 50 million shares.

It is likely the proceeds of the latest sales will also be used to help build Mr Morris' growing pub interests, including his acquisition of the Raffles Hotel in Perth a few months ago.

Mr Morris retains a nice round 48 million shares, worth a useful $571 million.

Elsewhere, it was a case of welcome back to Donald Argus.

It is safe to say that he is bullish on the future, particularly BHP Billiton's future, although he will not be gracing the resource group's boardroom for much longer.

Last Monday, he was active on the local and London stock exchanges, where he picked up 7300 BHP Billiton Ltd shares and 5940 BHP Billiton plc shares for $40.59 and about $33.40 respectively.

He has shown a liking for the price differential between the two markets in the past. Last November he spent close to $500,000 on the London market.

Then, he also put the same sort of money into Australian Foundation scrip and on that lot he's more or less breaking even.

Elsewhere, two directors of Paladin Energy which has two uranium mines in Africa and wants to be a "major uranium mining house" were both prominent with $1.4 million of purchases.

Paladin has been losing sharemarket ground recently. In June, the shares topped at $5.52. In recent days, managing director John Borshoff and Rick Crabb paid around $3.50 a share.

In the past few days, the scrip has rallied somewhat and is now at $3.84.

Among industrials, Timothy Hughes was at it again; buying more shares in his Photon marketing and communications group.

Elsewhere, Donald McLay, the chairman of Credit Corp, wasted little time adding to his considerable stake.

Last Tuesday, the debt-collecting group reported earnings were up 11 per cent in the December half-year. That very day, Mr McLay started buying and by the close of business on Wednesday had spent about $358,000 at an average $2.99.

Noting favourable trading since balance date, the company upped its full-year earnings forecast from $12.5 million to $14 million and the scrip reached $3.05 on the day. But yesterday the shares sold as low as $2.90, before closing at $2.95.