08/07/2008 - 17:40

Chimaera fall-out hits WA companies

08/07/2008 - 17:40

Bookmark

Save articles for future reference.

Two Western Australian companies have become entangled in the fall-out of Primebroker Securities Ltd, part of the Chimaera Financial Group.

Two Western Australian companies have become entangled in the fall-out of Primebroker Securities Ltd, part of the Chimaera Financial Group.

ANZ Banking Group Ltd today disclosed its five per cent plus holdings in a list of companies in the wake of it appointing receivers to Primebrokers last week.

Primebroker pooled its clients shares as security for credit facilities from ANZ.

The bank, which is seeking to recover its $260 million exposure in the affair, revealed it had an 11.9 per cent interest in mobile and e-marketing company Comtel Corporation Ltd and 10.7 per cent interest in Pharmaust Ltd.

ANZ said it was entitled to start a disposal program with respect to some or all of the securities that it acquired pursuant to transactions made under an agreement with Primebrokers.

Earlier today, North Perth-based Blue Energy Ltd revealed that almost one third of its of share register could potentially be sold off as the affairs Chimaera are resolved.

Blue Energy announced today Chimaera had advised it that over 138 million shares, representing 31.1 per cent of its register, are subject to "financial arrangements over which ANZ has security".

Shares in Comtel were also involved in the collapse of another margin lender, Opes Prime, earlier this year.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options