Blom holding a large no of Y shares via his sister. His track record speaks for itself, we can do without these sorts of characters in ETW
"THE president of the US-listed wine group bidding for Evans & Tate insists family ties to a disgraced businessman and former owner of the company's Hunter Valley vineyard are irrelevant to his ambitious business strategy.
Wayne Rockall said yesterday that Jennifer Rankine's majority shareholding in the Australian company that is majority owner of Yarraman Winery did not mean her brother, Gary Blom, would influence the company.HA, HA!
Mr Blom has been banned from being a company director after two major corporate failures: the $25 million collapse of his company Barrington Estate, which owned the 75.6-hectare Yarraman vineyard, and the $140 million collapse of Cinema Plus in 2000.
"These people are shareholders and unit holders in the company, it doesn't have anything to do with the day-to-day running of the business," Mr Rockall said.
Ms Rankine owns her stake via a complex series of companies and trusts. Through a company called Mallfame she owns 45 per cent of the shares in Delta Dawn, trustee for the Yarraman Road Trust, which owns 60 per cent of Yarraman Wines.
Mr Blom, 55, holds a share in Delta Dawn and earns $110,000 a year as a consultant to Yarraman.
ETW Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
