Director Deeds: Buyers out in full swing

After a seasonal low, directors have returned in high spirits.

After a couple of quiet months, directors returned in droves to the trading floor in February. Interestingly, there was a fair bit of action between perceived competitor companies.

Rich Lister Raphael Geminder of Pact Group spent $5.9 million on shares days after apologising to shareholders for the recent share price slide. Upon announcing a $320 million after-tax loss, Pact Group shares soon fell to an all-time low, on the expectation the company will need to raise capital soon. Geminder bought the chunk on-market through his family office Kin Group, which leverages its packaging pedigree via investments in health food businesses like Remedy and Cobs, by reports doing well. He holds nearly a 40 per cent stake in Pact Group.

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