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Condor Blanco Mines founder Glen Darby and Chilean President Miguel Juan Sebastian Pinera.
The chairwoman of embattled ASX-listed Condor Blanco Mines has defended the criminal record of the company’s founder and director, Glen Darby — in a letter to investors that breaches continuous disclosure listing rules.
The letter from chairwoman Michelle Feruglio — which defends the continued employment of Mr Darby after he was convicted of rape in May last year — comes as Mr Darby was yesterday sentenced to a nine-month intensive correction order over an unrelated high-range drink-driving incident.
Condor Blanco Mines, a minerals exploration company, has lost $22 million of investor funds since Mr Darby floated it in 2010 and it is now virtually worthless.
The company and an arm of its lawyer, Sydney firm Eakin McCaffery Cox, were last month found by the Takeovers Panel to have engaged in “unacceptable circumstances” over an irregular issue of 50 million shares, among other things.
A group of Condor Blanco investors led by Joshua Farquhar is trying to replace the board and a vote will be taken at a general meeting called for July 5.
In a note obtained by The Weekend Australian titled “company circular to shareholders” and dated May 27, Ms Feruglio calls for investors to vote against replacing the board, claiming Mr Farquhar and others had encouraged a “media circus” and had engaged in “below the belt tactics”.
However, in contravention of ASX listing rule 3.17, Condor Blanco Mines has not disclosed the two-page letter as a market announcement or provided the ASX with a copy.
A spokesman for the ASX said the exchange had contacted the company — which is currently suspended from trading — and “reminded it of its obligations under listing rule 3.17”.
In the letter, Ms Feruglio also incorrectly alleges Mr Farquhar disclosed confidential dealings of the Takeovers Panel regarding Condor with The Weekend Australian.
No such disclosure has occurred.
Ms Feruglio, who also works in media advertising sales, has not responded to requests for comment over the past six weeks.
Yesterday the telephone number for Condor Blanco Mines, which appears both on its website and on the two-page letter to investors, appeared to be disconnected.
The Downing Centre Local Court yesterday sentenced Mr Darby, 35, to a nine-month intensive correction order after he crashed his car in Tamworth, central NSW, with a blood-alcohol level of 0.204, over four times the legal limit.
It was Mr Darby’s second high-range drink-driving conviction in five years and the offence involved “moral culpability” but in sentencing magistrate Clare Farnan gave a 25 per cent reduction in sentencing on the grounds he had since been diagnosed with ADHD.
“He has been before the court many times … he is not an admirable character,” Ms Farnan said.
Under the intensive correction order, Mr Darby will be required to reside only at premises approved by the court, not leave NSW without court approval and to undergo random drug and alcohol testing. His licence was cancelled for 12 months. The long criminal history of Mr Darby includes drug offences, disqualified driving, resisting police, assault and sexual assault.
Under corporations law people can be banned from acting as directors for breaches of white-collar laws, but not for other criminal offences.
Last year a jury found Mr Darby guilty of raping a woman who worked in the same building as him after the pair went our drinking together, but he was granted bail over “exceptional circumstances” because it was likely the conviction would be overturned on appeal.
That appeal has been heard and is awaiting judgment.