Shareholding in Fiducian increased to 4% and Tranzact increased to 8%. Negative shareholders funds and significant bank debt justifies London City's stance over the past three years. Legal and disclosure issues pursued with Penrice where loss increases to $60 million. Shareholding in Tranzact increased to 6%. Successful legal action with Penrice allowed inspection of records of that company. Shareholding in Tranzact Financial Services increased to 3%. Increased shareholding in Fiducian Portfolio Services Limited to 3%. Increasing debt and failing ratios at Penrice force London City to seek Board representation. Acquires 9% of Penrice Soda Holdings Limited by supporting placement and DRP issue. Retains high levels of cash on deposit during GFC. London City acquires its first shares in Fiducian GroupĬCI Holdings acquired by leading French group. Took board participation.ĬCI Holdings reports record results. Sold out for significant gain.Īcquired 8%, increasing to 16% of CCI Holdings Limited. Wound down Towles unsatisfactory involvement.Īcquired 20% of Prudential Investment Co, Australia’s largest strata manager. Acquired shareholding stakes in Craig & Rose and Clyde Blowers (Scotland), Towles and McLaughlin & Harvey (England).Īcquired control of Towles Plc - put in new management.
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