Welcome to HotCopper’s Director Trades column, where we take a look at all the most interesting director transactions from across the past week and break down the details. This week, we’ll look at August 7-13.
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Directors legally have five business days to notify the ASX of their trades, so some transactions may be recorded after this article was written and published.
1. Washington H Soul Pattison & Company
The clear biggest transaction through the last seven days came on Friday, August 8, when Washington H Soul Pattinson & Company (ASX:SOL) director Todd Barlow made an on-market trade at the end of Week 33.
The buy-up cost Mr Barlow a hair over $2.7 million and handed him another 64.8K shares in the long-standing Aussie blue chip; he got the same in an exercise option, too.
His move came several days before Soul Patts sold out on $140 million worth of stock in TPG Telecom Singapore spin-off Tuas, which happened Tuesday.
2. Xero Ltd
Next highest was Brian McAndrews’ Xero Ltd (ASX:XRO) buy: The company’s director collected $230,000 worth of shares on Thursday, August 7. With the move, Mr McAndrews doubled his Xero holdings, to 4,994 shares.
As far as why McAndrews made the move, it likely has something to do with the blockbuster $3.9 billion Melio acquisition Xero pulled off in June.
Xero has also simply been a “buy” for many ASX-focused analysts in recent weeks, too.
3. Orange Minerals
And, Christopher Michaels bought as many as $148,000 worth of Orange Minerals (ASX:OMX) on the same day; that got him two million more shares. He also activated an option to add the same amount on the same day.
Orange has recently been pushing into the U.S. markets and has been trading on the OTCQB Venture Market in the States under “ORMXF” since July 31.
Catching up
Unreported during the last week range but popping up now, we also had a major transaction for Kaili Resources (ASX:KLR) shares on August 5, when Jianzhong Yang picked up 75.7 million more shares. The off-market trade bumped total holdings for Mr Yang, who’s helmed Kaili for 11 years, up to 88.9M shares.
That’s this week’s “Insider” Trades – we’ll be back with more next Thursday.
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