Wives' club leaps on Nufarm
Managing director Douglas Rathbone late last month unveiled higher earnings for the January half but accompanied the result with tidings of a lower result for the full year.
He said earnings before interest and tax of the crop protection group would come in between $180 million and $200 million, compared with $206 million for 2011-12.
The day before, the scrip was fetching $4.77 but fell to $3.95 as investors digested details of the report, which talked of improved offshore numbers and "extremely challenging" conditions on these shores.
The shares recovered just a little off those lows and Rathbone - or, more accurately, his wife - picked up 50,000 shares at $4.03 apiece.
Chairman Donald McGauchie's wife bought 15,000 shares at $4.05.
The wives' club is already ahead of the game - the scrip closed yesterday at $4.25.
Meanwhile, on the multi-director buying front, Troy Resources came under notice.
Late last month the gold producer announced an agreed paper takeover of Azimuth Resources, which directors said would create a South-American-focused gold producer.
Before it was announced, Troy shares were selling at $2.49 and have since dropped as low as $1.84.
Chairman David Dix, managing director Paul Benson and non-executive directors Frederick Grimwade and Robin Parish - more than half the board - bought shares.
Closing on Friday at $1.91, the scrip remains under what they paid.
Elsewhere, in an unusual transaction as far as price was concerned, Poh Choo Lim of Richfield International sold 22.5 million shares at 16.5 cents each, compared with a market price of 5.2 cents.
A Thailand-based group and a Singapore-based company have now surfaced with a total of 35 per cent of the capital in Richfield International.
Frequently Asked Questions about this Article…
The article reports Nufarm's managing director Douglas Rathbone unveiled higher earnings for the January half but warned of a lower full-year result. Nufarm guided earnings before interest and tax (EBIT) of between $180 million and $200 million, down from $206 million in 2011–12. The market initially pushed the share price down (from about $4.77 to $3.95) as investors digested the update, with a partial recovery afterward.
According to the article, Douglas Rathbone's wife bought 50,000 Nufarm shares at $4.03 each, and chairman Donald McGauchie's wife bought 15,000 shares at $4.05 each. The piece notes the so-called "wives' club" was ahead of the market as the scrip later closed at $4.25 (as reported in the article).
The article states Nufarm shares were trading at about $4.77 the day before the update, fell to $3.95 as investors digested the report, recovered slightly (where the purchases at $4.03 and $4.05 took place), and the scrip closed at $4.25 according to the report.
The article relays that Nufarm reported improved offshore numbers but described domestic conditions as "extremely challenging," which accompanied the lower full‑year earnings guidance.
Late last month Troy Resources announced an agreed paper takeover of Azimuth Resources, which directors said would create a South‑American‑focused gold producer. Before the announcement Troy shares were selling at $2.49 and subsequently fell as low as $1.84, closing at $1.91 (as reported).
The article names chairman David Dix, managing director Paul Benson and non‑executive directors Frederick Grimwade and Robin Parish as buyers — more than half the board. Despite their purchases, the article notes the scrip remained under what they paid, with the closing price at $1.91 reported.
The article describes an unusual sale in which Poh Choo Lim of Richfield International sold 22.5 million shares at 16.5 cents each, even though the market price was reported at 5.2 cents. It also reports that a Thailand‑based group and a Singapore‑based company have surfaced with a combined holding of 35% of Richfield's capital.
The article simply reports the transactions: family members of Nufarm's chairman and MD bought shares after the interim results, and several Troy directors bought during a takeover period. It notes the Nufarm purchases occurred ahead of a partial price recovery and that Troy's share price remained below what directors paid. The piece does not provide investment advice — it only documents the insider and related‑party trading and concurrent share price movements.
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