Kerry Series paying the price for a few investments gone wrong? Aurora trying to give him and other Directors of 8EC the boot.
" The arrangements with Kerry Series that led to 8EC becoming a shareholder in Big Unlimited Limited (ASX:BIG) A recent article in the Australian Financial Review (“AFR”) highlighted the involvement of Mr Kerry Series with BIG, an investee company of 8EC. According to the AFR “in November 2016, Big purchased, BHA Media, a subsidiary of the Intermedia Group*, a company 24 per cent owned by small cap fund manager Kerry Series of 8IP, who subsequently bought 1 million Big shares in his fund.” Aurora is concerned that Mr Series potentially used 8EC’s investable capital in support of, or connected to, a sale of one of his private assets. As at today, 8EC currently has approximately 2.5% of its NTA in BIG, a company which entered a trading halt on 19 February 2018 and currently remains suspended on the Australian Stock Exchange, pending an ongoing investigation into its conduct."
