THE battle for control of Rivkin Financial Services
continues with the Takeovers Panel once again becoming involved.
The panel has postponed, until January 14, the start of a
rights issue announced by the new board of RFS on December 23 at the behest of
significant shareholders financial player Pinnacle Asset Management and outdoor
advertising company Network Limited.
The RFS board had sought to raise about $6.7 million from a
one for three share offer.
The rights issue was to be fully underwritten by Westchester
Financial Services, a company associated with RFS director Christopher Ryan.
RFS has been the subject of a battle for control since
banned stockbroker Rene Rivkin sold his stake in the company last year.
At the moment Perth businessman Farooq Khan has control of
the RFS board.