Hi, Read this in the NZ Herald this morning. You will be aware...

Hi,

Read this in the NZ Herald this morning.  You will be aware of the increased holding by MVT from the change of substantial holder notice but thought the article might be of interest all the same.  Sir Ron has a bit of a reputation for being a corporate raider so who knows.   All the best.
Brierley’s Mercantile share placement raises $1.4m


From page B1 Sir Ron Brierley’s Mercantile Investments raised $1.4 million in a discounted share placement to local wholesale investors, which it plans to use for general investment purposes.
Picture / Natalie SladeMercantile Investments is at least the third diversified investment vehicle for Sir Ron Brierley.
The veteran corporate raider’s investment vehicle sold about 11.2 million shares at 12.5c each to New Zealand investors in a placement, which will give them about 4 per cent of the enlarged share register.
That’s a 19 per cent discount to the 15.5c the shares last traded at on the NZX.
The dual-listed shares were last at A14.5c on the ASX.
The proceeds will be used “for general investment purposes” and the placement doesn’t need shareholder approval, Mercantile said.
This week Mercantile increased its stake in ASX-listed shipping firm Richfield International to 19.9 per cent.
It built its initial stake in Richfield from a forced sale in August when Australia’s Takeovers Panel deemed a transaction breached disclosure obligations.
Mercantile is at least the third diversified investment vehicle for Brierley, who built Guinness Peat Group after being forced out of Brierley Investments in the early 1990s.
The group named for him struggled to recover from the 1987 sharemarket crash and now exists as GuocoLeisure.
It has its primary listing on the Singapore stock exchange, while GPG liquidated its portfolio and renamed itself Coats for its remaining threadmaking business.
Brierley seized control of ASXlisted Mercantile, then called India Equities Fund, in 2012 when shareholders agreed to a deal giving him 54 per cent of the company and its chair in return for his stakes in Copper Strike, Trinity Group, ING Community Living Group, Australian Pharmaceutical Industries and Trojan Equity.
Old comrades Ron Langley and Gary Weiss have also been brought into the fold.