Dark cloud over backdoor listings

A planned backdoor listing by technology company Yatango, which was backed by top-shelf advisers and boasted iiNet founder Michael Malone as one of its incoming directors, has fallen through after being hit by tough market conditions and a run-in with the corporate regulator.


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What needs to also be mentioned is that Yatango will still offering its prospectus with a revised date of August 14. While the official spin might have it that the minimum raising of 6 mill could not be reached, there was still a day left. And according to the prospectus that minimum had to be met within four months of the prospectus opening. It is only 6 weeks in. Something definitely fishy here

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 29/06/18

1 year TSR5 year TSR
179thNzuri Copper70%69%
230thLatitude Consolidated46%-24%
291stStrike Resources29%4%
779thTanga Resources-64%-12%
808thAfrican Energy Resources-73%-18%
722 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

$43k Bought
$0 Bought
$0 Bought
Total value as at the date of the transaction
Source: Morningstar


303rd↓Latitude Consolidated$18k
356th↑Tanga Resources$345
357th↑Nzuri Copper$250
359th↑Strike Resources$3
361st-African Energy Resources$0
507 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Latitude Consolidated

258thMichael Edwards$73k
1194thTim Moore$50k
1334thMorgan Barron$33k
Ranked by total remuneration from all listed WA companies

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