All the little birdies have deserted the nest
34 Parliament Place: Pretty vacant | Sawirka:
July 8, 2008
IT HAS only been a couple of months since Full
Disclosure reported on the cosy little nest of
publicly listed and inter-related businesses operating
out of 34 Parliament Place, West Perth, and it seems
some don't like all the attention.
The office building
is, or was, the headquarters of Range Resources,
Contact Uranium, Continental Capital and
Artemis Resources — companies that have records
of sharing directors, doing business with each other or,
on occasions, both. But now that office is on the
market, and is expected to net well in excess of $3
million when agent Jones Lang LaSalle puts in
under the hammer next Thursday.
Of special note is that the building is owned by
Bostock Investments and, according to the latest
filings with the Australian Securities and
Investments Commission, one Steven Dellidis
of Doncaster East is the sole director and shareholder
of Bostock. That's the Steve Dellidis who is the
muscle-car collecting buddy of Melbourne day trader
But Dellidis isn't listed as the beneficial owner of
those Bostock shares. That, Full Disclosure hears, is
It just goes to show that, despite an estimated $50
million of lost shares from the Opes Prime
fiasco, "The Gun" remains a cashed-up player.
According to the sign out the front, 34 Parliament
Place is vacant, which makes you wonder where all those
companies that traded out of the office are now
headquartered. Especially as the ASX hasn't yet been
notified of any change of address for many of them.
Also of note are two other people with links to both
Bostock and 34 Parliament Place. The company secretary
of Bostock is Jane Flegg, who is also the company
secretary of Contact Uranium, which rented office space
in the building. Flegg apparently also has ties with
companies linked with John Stratton, who also had
an office at 34 Parliament Place.
Four Corners reported this year that Stratton
had been named a co-conspirator in the murder of former
Randgold & Exploration chief executive Brett
Kebble in Johannesburg in 2005.
A former director of Bostock, until October 2006, is
Peter Landau, an executive director of Range
Resources and a man who also has strong ties with
Stratton. Landau's private business, Lacka Consulting,
must be looking for a new office as well now that 34
Parliament Place is on the market.
Meanwhile, the breakaway Somali province of Puntland
is giving Range Resources headaches as groups of feuding
warlords vie for power. The company has exclusive rights
to drill for oil in Puntland.
According to Full
Disclosure's man in Perth, there is a rift between
non-executive director Peter Landau and Range Resources
managing director Michael Povey.
Landau was apparently set to quit the company until
he discovered the name of the man lining up to replace
him — Khouri. Despite his Opes Prime losses, Khouri has
been a major investor in Range in recent months.
According to the Perth source, Puntland president
Adde Muse is close to Landau, and not as keen on
Just to further complicate the story, a dissident
Puntland website that tracks the Range investment in the
country, and has been accused of spreading anti-Range
propaganda, has reported that a state of emergency was
declared in Puntland last week. Little wonder, then,
that Range slipped a further 6.8% yesterday, down 1.5¢
to 20.5¢. The share price has more than halved since the
start of June, down from 53¢, but has fought back from
its August 2007 low of 15¢.
SOURCE: THE AGE AUSTRALIA
Faafin: SomaliTalk.com | July 8, 2008