a new ron brierley plaything?

this is now shell with new board with as yet undefined strategy other than to be an investment company. Their fund into India at too big a discount to NAV forcing capital to be returned.

cash $7m at bank and MCAp $7m about to embark with Gabriel Radzyminski as key invetment committee member. "Activist investor" who had a role in recent RHG shenanigans. Profiled here http://www.sandoncapital.com.au/pdfs/110508_AFR_Sandon_Capital_profile.pdf

Along comes Ron Brierley picking up 14% in his own name.
Geoff Wilson has 21%

One to watch - whether it strikes out on its own or with Sir Ron with more prominent role ? GR & Sir ROn sound like two peas in a pod with their opportunity selection but GR
better at execution? Could be interesting match.

Likely to stay at 6c for a while - its NAV and also more importantly it has 3,300 shareholders of whom 1595 hold less than minimal parcel at 6c. Huge number on register half of whom can't move out so this may be a factor in whatever transpires - or it could trigger huge volumes at even at, say, 7c