From...

From Fairfax:

http://www.brisbanetimes.com.au/business/brookes-gambles-on-retail-sectors-resurgence-20120315-1v86h.html

PaperlinX battle heats up

WITH only a week to go until PaperlinX chairman Harry Boon and the Andrew Price-led reform team confront one another in a shareholder forum to find out who gets to determine the company's direction, the accusations and arguments are flying thick and fast.

Boon has already been out this week putting the view that it has been difficult to pin Price down on what exactly he thinks he can do differently. Then again, readers of PaperlinX's strategic review outcome might equally struggle to see what is changing. One of the juicier criticisms of the incumbent management is over an alleged $100,000 membership of the prestigious Loch Lomond Golf Club in Scotland - doubtless you have seen its sporran and cigar-encrusted website with the unattributed quote ''Heaven cannot be better''.

The membership issue is being aired on PaperlinX holder of hybrid shares (not a hybrid shareholder) Graham Critchley's paperlinx-sux.com website and could feature whenPaperlinX investors have to vote next Friday on both Boon's removal and Price's election as a replacement. His group already seems to have support from the company's largest shareholder, Simon Marais' Orbis Investment group, but were knocked back by the old-school Maple-Brown Abbott on the grounds that one's ascension to a board ought to be at the behest of that board. Insider thinks that translates as ''we do not fight in public''.

While on the subject of PaperlinX, Insider blames his lack of a classical education for mistakenly referring to one of Price's shareholder supporters, Laurence Rodny, in unintentionally unflattering terms. Rodny is neither Price's adviser nor his controller, but a punter who thinks that he might make some money out of PaperlinX under new management.

Given that the ginger group bought a swag of shares at near the stock's bottom in January, from Maple-Brown, it is already well in front.

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Graham, McIlwraith says:

"The membership issue is being aired on PaperlinX holder of hybrid shares (not a hybrid shareholder) Graham Critchley's paperlinx-sux.com website..."

Splitting hairs? You still hold?