opportunistic hedge fund snags cmr chaiman

Would I have sold in Sept 2006 if you knew the chairman of CMR, Gordon Toll had become tied up with an opportunistic hedge fund that focussed on deeply discounted natural resource companies.

To be honest - I can't say if I would have sold on that alone. But I can say the timing of some announcements after around 2007 puzzled me and left me to feel at times almost like someone was tryng to kill the share price.

If however, you ask me had I known he was tied up with an opportunistic fund that focussed on deeply discounted natural resource companies at the same time I felt someone was trying to kill the share price would I sell - I think the answer would be a resounding YES - I don't think there would be much dount at all that I would have sold if I knew that when I felt that.

News of him joining the hedge fund can be found here
http://www.hedgeco.net/news/09/2006/launch-of-cd-private-equity-natural-resources-fund.html

But why was it never released to the ASX - probably coz he didn't have to.

The description of the fund as being an opportunistic fund focussed on deeply discounted natural resource companies can be found here

http://www.cd-capital.com/

Of course our laws should require the disclosure of such an interest or association from the head of an Australian listed natural resource company. Why isn't it that our lws require it?

And it should be disclosed well before it becomes deeply discounted natural resource company. This is not to say his association had anything to do with what happened with CMR - but perception is everything - and perception now looks pretty crook.

I have written to my MP demanding he ask in parliament why it is not required under our pathetic corporate laws that if the Chairman or director of an ASX listed company get tied up with what may be seen as a predatory hedge fund it should be compulsory it be made known to investors- how bout you do same.

Sad fact seems to be though, that current thinking of Labor is to weaken shareholder rights - not strengthen them - so make sure he is a Lib MP