Interests change at ASG

The CEO and the chairman of IT service provider ASG Group Ltd, Geoffrey Lewis and Stanley Lewis, have reduced their interests in the company.

On November 23 and 27, Geoffrey Lewis reduced his direct interest in the company by more than 1.4 million shares.

The sales were made by off-market trade for a consideration of about $1.2 million, reducing his interest from almost 18 million shares to approximately 16.6 million shares.  He also holds three million unlisted options.

On November 27, Stanley Lewis disposed of 117,647 shares in the company, reducing his direct interest to 922,618 shares. The sales were made in off-market trade for a consideration of $100,000.

Last month, ASG bought Sydney-based Vindaloo Systems, a leading Oracle solutions and managed services group.

The acquisition delivers to ASG a significant boost to its delivery capability and positions the company for further growth in the Sydney market.

It is also part of ASG’s strategy to build capability and national service reach through organic growth and earnings-per-share accretive acquisitions.

The company, which first traded on the ASX in 1999, has a current market capitalisation of more than $103 million.

Meanwhile, the non-executive of Perth-based metals explorer Perilya Ltd, Guy Travis, has reduced his indirect interest in Aurex Pty Ltd, of which he is a director, by 369,358 shares.  

The sales were made in on-market trade for a consideration of about $1.7 million, reducing his interest from 3.83 million shares to 3.46 million shares.

On November 15, Perilya started listing on Standard and Poor’s ASX 200 list.

The company is developing the Potosi mine at Broken Hill, evaluating the re-opening of the nearby North Mine, and is the process of considering a new zinc project in South Australia.

With minimal debt and zinc prices at high levels, Perilya generated $42 million of free cash flow in the September quarter and increased its cash-on-hand to $169 million.