Endangered Yowie at centre of bitter investor squabble

  • 📰 smh
  • ⏱ Reading Time:
  • 59 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 80%

Australia Headlines News

Australia Latest News,Australia Headlines

Endangered Yowie at centre of bitter investor squabble | pwhatch

But a company that dusted-off the once wildly successful product is now itself being frantically swapped, traded and sold, after becoming the unlikely subject of a battle involving some of the most high-profile names in corporate investing.

Continuing the early growth however was harder than the company and its shareholders expected, says Yowie's chairman Louis Carroll. They company has run at a loss for the past six years and its shares have plunged to 7¢.Shareholders are understandably disappointed with the performance of this business."Unfortunately, unrealistic expectations were set early in the businesses life about the extent to which its very fast, early success could be repeated and extended.

Bolton shot to public attention in 2009 when, aged just 26, he mounted an audacious $4.5 million raid on Macquarie's toll road project BrisConnection.The Australian Securities and Investments Commission later banned him from serving as a company director for three years over his involvement in 13 separate companies which all collapsed, leaving combined debts of $25 million.

But Carroll says the offer is "ridiculous" because it is worth less than even the company's cash backing, essentially valuing the ongoing Yowie business in negative terms. Adding to the drama, Wilson acquired more Yowie shares when Keybridge launched its Yowie takeover in March.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in AU

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

'The crocs will help us float': No bitter end for annual beer can blow-outDarwin's annual Beer Can Regatta may elicit some cynicism, but it continues to draw packs of entrants who attempt to construct seaworthy vessels out of aluminium recyclables.
Source: abcnews - 🏆 5. / 83 Read more »

Aussie plane at centre of Swedish crashSwedish authorities have launched an investigation into the cause of one of the worst plane accidents in the country’s history.
Source: newscomauHQ - 🏆 9. / 77 Read more »

#FakeChristian: Mike Pence under fire after visit to migrant centreCritics of US Vice President Mike Pence have accused him of being a 'fake Christian' after an 'uncomfortable' visit to a packed Texas immigrant detention centre Damned if you do damned if you don't. Why doesn't anyone focus on the actual reason these people are there? If you break the law you go to gaol or get deported jesus why us this so hard to understand? Matthew 25:31-46 thesheepandthegoats what would Mother say VP ? WWJD? Meet Australia’s fakechristian Prime Minister Scott Morrison
Source: SBSNews - 🏆 3. / 89 Read more »