BIG CHANGE: Investmet is now largely owned by Michael Fotios after other investors sold out in an arrangement which changes the share registers of many of the companies it held interests in.

Wyllie Group cuts ties with Investmet

Major private investment player Wyllie Group has cut direct ties with mining dealmaker Michael Fotios’s investment syndicate, Investmet, a significant backer of junior resources companies and other speculative opportunities.

It’s understood that Wyllie Group, along with a group of minority shareholders, participated in a share buy-back to exit the syndicate earlier this year, which has left Investmet almost entirely owned by Mr Fotios and interests associated with his family. It has also significantly changed the share registers of several juniors resources companies (see below for analysis of the announced changes in recent weeks).

The buy-back appears to have followed a period of board disharmony over several key investment decisions and coincided with significant changes to the board, including the June departure of Wyllie executive chairman Wayne McGrath and former BDO managing partner Stephen Mann.


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WA revenue

66th-Marine Produce Australia$7.3m
67th↓Wyllie Group$5.9m
68th-Perth Markets$5.8m
69th-Midas Engineering Group$5.0m
104 private companies - large ranked by revenue most recent financial year

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