re: Ann: Purported Section 249D Notice of Req... A new media...

re: Ann: Purported Section 249D Notice of Req... A new media article about who is behind this announcement.

http://au.news.yahoo.com/thewest/business/a/-/business/13389660/chaney-pops-up-in-mindax-stoush/

Respected Perth businessman Michael Chaney has emerged as a surprise player in the battle for control of Mindax, the $27 million WA iron ore hopeful facing off against its biggest shareholder.

Mr Chaney, who chairs National Australia Bank and Woodside Petroleum, is one of more than two dozen investors behind a push to remove Mindax directors Andrew Tsang and Benjamin Chow. Mr Tsang is one of Mindax's biggest investors with a 22.8 per cent stake.

Although Mr Chaney has a long history in WA business, principally through his long reign as Wesfarmers chief executive, his involvement in a junior resource company's boardroom spill is unusual.

Mindax told the Australian Securities Exchange late yesterday that shareholders claiming to represent more than 5 per cent of the company had requisitioned a meeting. It did not mention Mr Chaney.

According to Momentum Minerals, the shareholder pushing the spill motion, the requisition is also backed by a company associated with Janet Holmes a Court.

The push comes little more than two weeks out from a meeting requisitioned by Mr Tsang to sack Mindax managing director Greg Bromley and director Ken Pettit.

That move appears to be aimed at scuppering a $115 million deal with Japanese heavyweight Sumitomo over Mindax's flagship Mt Forrest project, 160 km north-west of Leonora. Mr Tsang has not spoken publicly about his motivation. Mr Tsang and Mr Chow both voted against the Sumitomo deal.

Mr Chaney, who owns one million Mindax shares worth $145,000 at yesterday's 14.5¢ price, was unavailable for comment. But in a statement he said Mindax was a "well-managed company with good prospects of developing its Mt Forrest iron project".

"The call to sack Greg Bromley and director Ken Pettit has not been explained . . . and risks jeopardising the project," he said.

"Greg is an experienced geologist adept at negotiating port and rail agreements while Ken is a top SC (senior counsel) and chairman of the Port Hedland Port Authority."
Mr Bromley was unavailable for comment.