DIRECTOR buying remained at relatively low levels this week they spent $2.5 million but sellers made hay, collecting $71 million.
A big chunk of the sellers' tally related to interests associated with Michael Fotios, including Investmet, who sold more than $30 million of stock in Northern Star Resources at 90? a share.
Done as part of a capital raising by the gold producer, directors said sales by the Fotios interests enabled large institutional investors "to obtain their desired holdings in the company". The scrip closed yesterday at 93.5?.
Also contributing big-time to the overall disposals tally were three directors of MACA, a surface mining and crushing services concern.
They and three other prefloat shareholders collected $40 million when they sold at $2 a share. They sold to "rebalance their personal finances, provide additional market liquidity and to cater for the many requests from institutional investors for sales".
Michael Smith, the ANZ Bank chief, did a spot of profitable option-exercising, which he said left his shareholding unchanged.
The jolly Englishman exercised 260,000 options at $14.18 apiece and sold the resulting shares at $22 each. He said he sold to pay income tax. He retains a useful little nest egg of 1.17 million shares worth nearly $26 million, and nearly 1.3 million options.
Also enjoying some options magic was Gregory Roebuck, the managing director of carsales.com.
He paid $860,000 to exercise 400,000 options, collected $1.7 million when he sold 332,283 shares and wound up with more shares than he started with.
Starpharma Holdings, whose main product is a vaginal microbicide to prevent the transmission of sexually transmitted infections, appeared on both the buyers' and sellers' list.
The company's chief executive, Jackie Fairley, who hails from a distinguished medical family, peeled off a modicum of stock, collecting $247,219.
She said she sold to partially fund a tax liability associated with the group's incentive plans. She retains $2.3 million of stock and some performance rights.
At about the same time, Dr Peter Jenkins, a consultant physician and gastroenterologist, bought 50,000 shares.
Meanwhile, Giles Everist dealt in two stocks. He bought 180,000 shares at $2.79 in Decmil Group, a civil engineering concern where he was appointed chairman in December.
Also, he was one of three directors who bought stock in LogiCamms, a mining services provider.
The reporter holds shares in MLD and CRZ.
Frequently Asked Questions about this Article…
What was the overall level of director buying and selling reported this week?
Director buying stayed relatively low this week — directors spent about $2.5 million — while sellers collected roughly $71 million in disposals, according to the article.
Why did interests associated with Michael Fotios sell a large holding in Northern Star Resources?
The article says interests linked to Michael Fotios, including Investmet, sold more than $30 million of Northern Star Resources stock as part of a capital raising by the gold producer. Directors said those sales helped large institutional investors "to obtain their desired holdings in the company." The shares were sold at around 90 cents and the scrip closed at about 93.5 cents.
What did MACA directors and prefloat shareholders do and why did they sell?
Three MACA directors and three other prefloat shareholders sold stock that raised about $40 million after selling at $2 a share. They said the sales were to rebalance personal finances, provide additional market liquidity and respond to requests from institutional investors for stock.
How did ANZ chief Michael Smith use options, and what was his reason for selling shares?
Michael Smith exercised 260,000 options at $14.18 each and sold the resulting shares at $22 each, saying the sale funded an income tax bill. He said the transactions left his overall shareholding unchanged; he still holds about 1.17 million shares (worth nearly $26 million) and nearly 1.3 million options.
What option activity did carsales.com managing director Gregory Roebuck report?
Gregory Roebuck exercised 400,000 options at a cost of $860,000, then sold 332,283 shares and collected about $1.7 million. He ended up with more shares than he started with after the exercise and partial sale.
What director trades were reported for Starpharma Holdings and who else traded its stock?
Starpharma appeared on both buyers' and sellers' lists. CEO Jackie Fairley sold stock and collected $247,219 to partially fund a tax liability tied to the group's incentive plans; she still retains about $2.3 million of stock and some performance rights. At the same time, Dr Peter Jenkins bought 50,000 shares.
Which directors bought shares in Decmil Group and LogiCamms, and why is that mentioned?
Giles Everist bought 180,000 shares in Decmil Group at $2.79 after being appointed chairman in December. He was also one of three directors who bought stock in mining services provider LogiCamms. The article notes these purchases as part of the week’s director buying activity.
Does the article disclose any potential conflicts of interest or reporter shareholdings?
Yes — the reporter discloses holding shares in MLD and CRZ, as stated at the end of the article.
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