Perrott hits back at criticism

EMBATTLED Phosphate Resources Limited and Aliquot Property Management chairman Michael Perrott has hit back at shareholders’ criticisms coming out of battles for control of those companies.

Mr Perrott said he and fellow Aliquot, Phosphate Resources and Asset Backed Holdings director Peter Huston had formed the Troika group of companies to provide services to small to medium-sized companies that needed assistance.

“We have a staff of just under 20 that provide legal, accounting and other corporate services,” he said.

“If we like what we see we put our money in too. Certainly we charge fees for the services we render and look to get an uplift from it,” he said.

However, Mr Perrott said he believed the fees charged by the Troika companies were below those of the major advising houses.

ASA WA chairwoman Anne Prior has also questioned whether Mr Perrott is giving value to the companies he directs, given that he is on so many boards.

According to Australian Securities and Investments Commission records, Mr Perrott is a director of 29 companies.

Mr Perrott said he had deliberately chosen to take on so many directorships because he believed the extra knowledge he gained would be to the good of all shareholders.

“[Former New South Wales Premier] Nick Greiner set himself up to be a professional director and built a staff around himself to make that happen,” he said.

“He has said he feels he can offer better service by being on a lot of boards. I agree with that.

“I believe I can learn and know a lot more because I’m on a lot of boards.”