David LenigasFrom Wikipedia, the free encyclopedia
Jump to navigationJump to searchDavid Anthony Lenigas (born 1961,
Adelaide,
South Australia) is an Australian
mining engineer and serial
entrepreneur who has occupied numerous senior positions in hundreds of predominantly unsuccessful
[1][2]natural resources, and other companies.
[3][4][5][6]Lenigas was educated at
Brisbane Boys' College and the
Kalgoorlie School of Mines, graduating with a Bachelor of Science (Mining Engineering) (Distinction) from
Curtin University Kalgoorlie School of Mines, Western Australia. He holds a West Australian First Class Mine Manager's Certificate of Competency (No 330).
Corporate Governance Related Criticisms[edit]He has been accused of frequently "promoting a company, pushing up the (price of its) shares, then raising cash by placing new shares — and (thus) diluting the holdings of the early investors"
[7], described as "a familiar tale with most companies he promotes"
[8]. His defence has been that "You can’t build a business on bottle tops."
[9]. Furthermore, he has argued that its not accurate to claim that "all his ventures have turned sour".
[10]. Although finance commentators have noted that most of the "hundreds" of companies he has been involved in, and "stock promoted" for, have failed to generate any successful shareholder returns
[11].
In 2009 he was one of a group of claimants, claiming that he had been libelled when an investment publication in South Africa had described the group of executives of one of Lenigas' ventures as "cynically and greedily indulged in self-enrichment at the expense of, and contrary to the interests of, shareholders."
[12] The
High Court of Justice of the
United Kingdom rejected Lenigas', and the other claimants' libel claim.
[13]
