Directors keep selling shares
Heading the cash raisers was Peter Larsen, one of the co-founders of education group Navitas.
"He's diversifying his portfolio and that was really why he was selling because he has held those shares for quite some time and still does hold many shares," a company spokesman said.
Larsen, a former teacher, retains about 6 per cent of the capital, valued at $139 million.
Elsewhere, the man who topped the sellers' table last week topped the latest buyers' list.
Richard Graham, the outgoing executive chairman of automotive parts catalogue producer Infomedia, last week sold about $57 million worth of stock.
He has since surfaced as a buyer, spending more than $800,000.
Graham's stake was previously held by a vehicle that was not tax effective and his buying is now registered in his name. He also wanted to diversify his wealth.
For a company with a patchy pre-tax earnings' record, the shares have held up well considering how much stock has been on offer.
Non-executive director Myer Herszberg also sold his largish stake and he, like Graham, plans to retire within a year.
Graham bought 5 per cent of Herszberg's stake.
Elsewhere, there was again multi-director buying in Boart Longyear, the drilling concern.
Last month the scrip was fetching 62¢ and news of a hefty loss saw them down to 42 cents. They closed yesterday at 52 cents.
In recent days, seven of the eight-member board have bought shares.
Among sellers Sonic Healthcare directors Colin Goldschmidt and Christopher Wilks were again sellers. It followed the recent exercise of options.
Zygmunt Switkowski took a useful swing at Suncorp scrip and increased his stake by about 15 per cent, while Mike Clasper showed up as buyer of Guinness Peat Group.
Frequently Asked Questions about this Article…
The article says directors doing some selling dominated activity, with the scorecard registering between $5.6 million and $103 million in favour of sellers. The coverage notes individual reasons such as diversification, retirement and option exercises as drivers of those sales.
Peter Larsen was one of the biggest cash raisers. A company spokesman said he was diversifying his portfolio after holding the shares for quite some time. Larsen still holds many shares and retains about 6% of Navitas’ capital, valued at roughly $139 million.
Richard Graham sold about $57 million worth of Infomedia stock last week but later reappeared as a buyer, spending more than $800,000. The article explains his earlier stake had been held by a vehicle that wasn’t tax‑effective, so his recent purchases are registered in his name; he also wanted to diversify his wealth.
The article reports Myer Herszberg sold a largish stake and, like Richard Graham, plans to retire within a year. Graham bought 5% of Herszberg’s stake. The coverage presents Herszberg’s sale in the context of retirement rather than as an explicit sign of company trouble.
Boart Longyear saw multi‑director buying. The scrip traded at 62 cents last month, dropped to 42 cents after news of a hefty loss, and closed at 52 cents. In recent days seven of the eight‑member board have bought shares, according to the article.
The article states Colin Goldschmidt and Christopher Wilks were again sellers at Sonic Healthcare, and their sales followed the recent exercise of options.
Zygmunt Switkowski increased his Suncorp stake by about 15 percent, and Mike Clasper showed up as a buyer of Guinness Peat Group shares.
The article shows a mix of motives behind trades: diversification (Peter Larsen, Richard Graham), retirement (Myer Herszberg), tax‑structure changes (Graham’s holdings moved into his name) and option exercises (Sonic directors). It suggests looking at the context behind each director’s transaction rather than treating all sales or buys the same.
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