13/11/2007 - 22:00

Directors’ Interests

13/11/2007 - 22:00


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Aquila Resources Ltd non-executive director Charles Bass reduced his interest in the company through the off-market sale of 2 million shares worth $13 million to West Perth-based SAS Global Private Client Pty Ltd, reducing his voting power from 17.65 per cent to 14.62 per cent. Mr Bass now holds 24.7 million shares valued at $182 million. Nomad Building Solutions Ltd director Wayne Mcgrath realised $8 million from an off-market sale of 2.5 million shares. Mr McGrath now owns 2 million shares valued at $6.2 million. Little World Beverages Ltd director Adrian Fini has lifted his voting power in the company by 1 per cent to 13.27 per cent with the acquisition of 590,626 shares at a total cost of $939,808. Mr Fini now holds 7.8 million shares valued at $12 million. Mindax Ltd managing director Gregory Bromley has decreased his interest in the company through the on-market sale of 3.9 million shares realising $779,220. He now owns 5.3 million shares valued at $844,571. Difficult delivery Being something of a sedate creature, The Note likes a smooth AGM where everyone is happy. Despite this, an operative was dispatched to WA Newspapers Holdings Ltd’s annual soiree in the knowledge that the usual venting over fine print sizes in the paper would occur … and it did. There was also the matter of self-appointed shareholder activist Stephen Mayne who added to his record as the most-failed board candidate ever and took the opportunity to have a few pot shots at tyro West editor Paul Armstrong. Shots, we might add, that were not supported by the rest of the meeting. But the most disturbing thing from The Note’s view from the couch was when the newspaper’s distribution agents got up to take the publisher to task. Not only had they been disrupted by delays in paper runs due to new presses this year, they reckon they haven’t had a pay rise for at least a decade. One agent said she wanted to retire but no-one would want a business that pays peanuts for seven days a week. CEO Ken Steinke (pictured) said he was looking into the matter.


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