Former Motolink managing director Basil Greenstone last week followed other Super Group directors in exercising options and selling shares.
Greenstone exercised 187 281 options at R5 each, which cost him R936 405. He sold 40 000 shares at R11 each, raising R440 000, making a R6 profit on the options, or R240 000 in total on the transaction. The 147 281 shares he has not sold are in the money to the tune of R827 736.
In the past month, Judy Ida Van Es and Rob Ballentine have exercised 1.09 million Super Group options, costing them a little over R5 million. They sold all the shares from their exercised options, netting a whopping R11.5 million with profits in the region of R6.5 million.
Angus Herselman, the head of collections at African Bank Investments, sold shares worth R2.1 million.
The bulk of the shares sold were on delivery of options granted in 2001. The options were vested in April but only expire in April 2008, so it is, arguably, early days to be exercising them.
The average price of R12.01 a share received is not far below the high of R12.37 a share and compares well with the current R11.40.
With a strike price on the options of R4.61 a share, Herselman has made R1.2 million profit.
Perhaps he thought that the counter has had a strong run from its April 2003 low of R5.30 a share and it might be worth taking a little money off the table.
The former chief executive of Malbak, George Douglas de Jager, took advantage of the large discount to net asset value inherent in Remgro's share price.
The intrinsic value was quoted at R101.23 in Remgro's results to March 2004. He spent R304 200 buying 4 000 shares at R76.05 in the company, but will get R19 400 back soon when the company pays dividends of R4.85 a share in August.
The Remgro share price has been trading in a narrow band between R70 and R77 since January, despite rand strength on the one hand and improved results on the other.
Directors at Jasco are divided. F Emary has been selling, while A Mokgokong and Joe Madungandaba have been buying around the R1.02 mark.
All Joy's A Gonsalves won the dubious honour for the smallest director's dealing of the week when he sold 30 000 shares on AltX at 63c and 64c a share, netting a grand R19 000.