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IMF backs Saraceni over Raine Square

Property developer Luke Saraceni and his business partner Hossean Pourzand have struck a funding deal with IMF (Australia) to support their legal action over the Raine Square development.

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Perth
Well, well, well..... this throws a different light on this particular situation. It always struck me as peculiar that the Bank's were so aggressive towards this guy given he seems to have been pretty successful in the past and was building their own HQ. This just proves they did, and do, have something to hide here and they way they were dealing with the problem (i.e. Saraceni holding them accountable) was to try and send him broke and bury him!! Unfortunately, the reasons the Banks resort to these tactics is that they work more often than not. With IMF behind him it's not going to work in this case.....

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IMF Bentham (IMF)

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
154thZenith Energy87%0%
193rdIMF Bentham64%16%
262ndHomeloans37%-4%
274thSeafarms Group33%-0%
289thMatrix Composites & Engineering30%-7%
722 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

24/04/18
$30k Bought
24/04/18
$5k Bought
23/10/17
$50k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

51st-IMF Bentham$113.7m
58th↓Homeloans$36.4m
59th↑Seafarms Group$35.8m
61st↓Matrix Composites & Engineering$33.2m
62nd↑Zenith Energy$31.4m
239 listed industrial companies ranked by revenue.
Source: Morningstar

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