Australand, Chalice Gold, BKI Investment & Global Yatirim Hldg

Jul. 29, 2011 11:20 AM ET
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Long/Short Equity, Insider Ownership

Contributor Since 2011

Head of Operations at Directors Deals Ltd in the UK. I deal with all data and products related to directors deals or insider trading.

Mr Bob Johnston, Managing Director of Australand Property Group(ALZ), has increased his holding this week by 76,000 shares (holds 0.018% of the company). His investment was just over £132k and is a 258% change in his holding which is why I find this trade noteworthy. The share price has been gently easing off from 317 cps in early 2011 to the current level around 265 cps. The share chart looks like a very large slowly rising channel over the past two and a half years and the price is near the support. He recently gave a shareholder presentation for the half year along with other colleagues and the targeted distribution to shareholders was maintained in the outlook presented. The director’s financial commitment along with the positive glow the presentation gave may be suggesting the director saw a reason to increase his holding.

Again this week we see executive chairman, Mr Timothy Goyder, ofChalice Gold Mines Ltd (CHN) buying to increase his holding again to 28.42mio shares by acquiring 666,666 shares at 32 cps for A$213.3k. (See last week’s comment). As before no news but since early March with option exercise and market buys he has invested about £590k.

Robert Millner, non-exec. chairman of BKI Investment Company Ltd (BKI), has purchased 250k of shares taking his holding to almost 7.05 million (1.667%) and this trade was made almost as soon as the hare passed the traps upon the release of the preliminary full year report on the 18th July and the window opening.  The company also gave a presentation to shareholders in which they portrayed their conservative and diligent approach to investment. The company’s stated approach to investment may be mirrored by Mr Millner’s own personal approach and this may be revealing his increased belief in the company’s prospects.

Turning to Turkey, Mehmet Kutman, chairman, and 4 of his management team have, en masse, invested approx. £680k in Global Yatirim Holding A.S. (GLYHO). The share price is threatening recent highs this year at about 1.40 TL. It is not easy to discover the reason for trades such as these but when I have seen a group of directors/officers trade I am not surprised to see the share price lurch in that direction. There has been a 22% stake in Global Liman Isletmeleri A.S. disposed of to Savina Holding for USD77.4 mio which is one news item that may have a bearing on these trades but any reason for these trades being effected is difficult to discover due to the language barrier and lack of news outlets. Mr Kutman’s holding increased by 750k shares to just over 53mio (23.55%), the officers investments were maiden investments.

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