I am thinking that the sell down will not be to savage as people will hold to see what is next on the scene for this shell
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Kiwis can be contrary - just ask Bruce Judge
22 November 2004
By TERRY HALL
Investors can be contrary. Some New Zealanders seem to have forgotten the 1980s – and last week poured money into former high-flier Bruce Judge's new Australian company.
The share price rocketed, despite its name: Big Kev's.
It is a fair bet some must have lost money on other companies Mr Judge has been involved with, but again want to coat-tail the charismatic businessman and former Wellingtonian who
came to prominence running
Brierley Investments.
After the 1987 crash and Mr Judge's departure, two companies he had been associated with narrowly survived massive financial problems.
Renouf Corporation became Hellaby Holdings, and Ariadne, still with significant Kiwi influence at management and board level, is said to be about to become the biggest operator of car parks in Australia.
It has resumed paying dividends.
Mr Judge sparked life into cleaning firm Big Kev's by buying eight million shares, a fifth of the capital, at five cents last week, through his company Theseus Capital.
Mr Judge has a sense of humour.
Theseus was a great hero of Greek mythology, and the beautiful Ariadne loved him.
Both came to sticky ends (Theseus was murdered and Ariadne either hanged herself, died in childbirth or married the wine god Dionysus), though they were remembered in great festivals.
Put another way, along the way Theseus and Ariadne created a lot of fun for the Greeks.
This explains why some Kiwis are again backing Mr Judge with real money.
On strong interest the shares rapidly rose to A7 cents, then as high as A28c in just two days' trading.
A board shake-up has seen the departure of founder Kev McQuay. Mr Judge says that, after sorting out the loss-making cleaning business, Big Kev's will look for other viable opportunities.
Who knows? It could even look at forestry.
Theseus killed Sinis, the evil Pine Bender, who murdered his victims by tearing them apart between pine trees.
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Who knows it may be one that Alpha looks at soon ,
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- not dead totally -will be supported
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