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All the little birdies have deserted the nest


34 Parliament Place: Pretty vacant | Sawirka: theage.com.au

Source:
http://business.theage.com.au/

Mark Hawthorne
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 Leo Khouri.

But Dellidis isn't listed as the beneficial owner of those Bostock shares. That, Full Disclosure hears, is Khouri himself.

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 muscle-car collectors.

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

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