Further to my post yesterday on Martin Pretty's involvement with the Dragonfly Fund, the App 3X Initial director's interest notice released after market close yesterday sheds more light.
So the DF's Mar-20 report states that MWR is a top 9 holding. The App 3X yesterday states the DF's interest in MWR at 18-May, the date of Pretty's appointment, was a paltry 160,000. Hardly a material commitment. Or inspiring unless MWR is one of his smaller positions and the DF is heavily concentrated in the other 6-7 positions in its top 9.
Looks more like this is a consulting gig and perhaps the connection is through Pretty's former gig at Thorney. Pretty also named in the appointment announcement as an independent director. Either Martin doesn't intend the DF to build a meaningful position in MWR or he doesn't expect to be independent for too long.
What do others think? Do these two guys inspire confidence they will add value or are they more likely a couple of appointments that will warm the bench and serve to dress the window? Remember when Mark appointed John Dawkins, former Federal Treasurer and Minister for Education?
On the face of it, these appeared to be two interesting and inspiring appointments. Now for me it's not so clear.
MWR Price at posting:
12.5¢ Sentiment: Hold Disclosure: Held
