Originally posted by Chimpbpoy
Not such a common practice with the involvement of a director. Makes it smell funny. You've got a company that lives on other people's money paying interest to another company that one of their directors "controls". The loan will be earning "HFM Investments" $360,000 pa until it's repaid. Seems like a conflict of interest. Which investors is he looking out for? Carnegie shareholders, or investors in "HFM Investments"?
I'm guessing that "HFM Investments" is not Hastings Fund Management, who I believe are no more since earlier this year, but is actually just MF himself. But it's kind of hard to find out.
Gday Chimpboy, so what’s the problem? It’s no secret that that funds might be hard to get whilst CCE are in the current state of play, we’ve got a director that’s prepared to put in $2,000,000 from wherever, the funds, if utilised, attract a rate which is fair and reasonable for “unsecured funds” in today’s market, it’s been announced so it’s transparent, how about we cut them a break and see what the next few weeks bring
