more shares gone, page-17

I still shake my head sometimes thinking how BRM got into this mess. Yes, there were some judgement calls BRM management made about WNI, which in hindsight are questionable although at the time WN did not appear to be a Trojan horse.

More than anything I feel let down by the regulators and institutions who have not had the courage or decency to look out for minority shareholders. Make no mistake I regard WNI are in the process of theft of future gains of its fellow shareholders.

If the Takeovers Panel exercised its judgment correctly, and held WNI to account for the warehousing of shares by Associates, and the fraud on minority shareholders that this represents, this whole issue could have been over in January.

The Panel and ASIC have weakened the country. I expect a number of other overseas companies to be emboldened by the feebleness and impotence of these two bodies.