O'Rorke still has a 11% share of Trinity (possibly increasing????)
Also the assets from Consolidated were left behind.
The fact that the IAB for the superfunds have invited Trinity to be part of the tender process is also a Plus. In fact, a source quoted in The Australian said that they had "invested well" with Trinity and were looking to build on opportunities etc.....until executives started to leave and things went "pear shaped".
Also I believe the income from the Funds Management is approx $7Mill.
Also $20Mill = 5 transactions as per 1/2 yr announcement.
PS: Worth reading a recent interview with O'Rorke:
http://www.propertyoz.com.au/Profiles/ProfileDetail.aspx?pid=33 Surf’s up: Don O'Rorke
With a PPS:
On further investigation it is clear that there are 2 remaining Board Members: Hartnell (ex ASIC hehe) and Freind. Not sure of the role they have played. Also it seems that by Seymour dumping his shares it looks like the "best man" ie O'Rorke won - but the question is is O'Rorke the best man for the company? Seems he has reviewed his position from earlier in the article above with regards to how such a company like Trinity and Consolidated should be run. The argument earlier this year was as to whether O'Rorke's Property Development side of the business was actually an "earner". This makes for good background reading into the management/shareholder politics.
Hmmmm also wondering how AMP's 12% ownership fits into all this?
Hammer05
If Seymour's comments are correct then the overheads on the other portion of the business are higher than for the Trust Funds and cannot be sustained by the income (if any). generated by them.
TCQ Price at posting:
7.4¢ Sentiment: None Disclosure: Not Held
