Thursday, August 19, 2010

Change in power at India Equities Fund?

I've talked about India Equities Fund a couple of times already because I always have an interest in shell companies and what may eventuate.  Anyway, this one seems to be hotting up quicker than I anticipated.  I mentioned how GW Holdings Pty Ltd popped up on the register as substantial holder.  Only five days later and with it's powers as a substantial share holder the company has called for a general meeting to overthrow the existing directors and replace them with James Chirnside, Alexander Feher and Gabriel Radzyminski.  It clearly shows that GW Holdings Pty Ltd is not going to be a passive shareholder and has plans for the shell...

I've done a quick search on these persons and whilst it didnt prove too fruitful you could generally see that they are of an investment funds-style background.

After a quiet week of trading in INE shares it is also interesting to note the jump in volume today with the shares up $0.005 to $0.062.

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