Empire History 101, page-61

At this stage I’d like to introduce sister company FYI again -
More particularl, Mr Roland Hill - chairman, and major holder who, along with Empure’s directors, Sargeant and Jessup and Empire’s new liquidation expert chairman, Lee Christensen, approved the removal of the final tranches of shares from Empire’s books over the next few months

It’s worth reading the story https://thewest.com.au/business/finance/how-compass-lost-its-bearings-ng-ya-176101
But here’s a taster:

“In 2007, amid the torrent of mining stocks flooding the market, a group of Sydney-based lawyers and corporate finance executives devised a novel way to cash in on WA's resources boom.

They flew in, spent big on some of Perth's best-known hotels and packaged them into the $123 million float of Compass Hotel Group.

The promise of owning a stake in one of the biggest freehold tavern portfolios in the world lured some of the country's biggest institutions and on its trading debut on January 3, 2008, the $1 stock produced a 5 per cent stag profit.

Three years later, its founders are long gone and their vision lies in tatters after financier St George Bank yesterday sent in receivers to recover debts of more than $100 million. The stock last traded at 1.5¢, capitalising the company at just $1.8 million.

So what went wrong?

Compass ran into difficulty almost immediately, missing its prospectus earnings forecasts in its first year of trading and falling foul of its loan covenants by July 2008......”

Whilst his company ended up in receivership and the shareholders ended up in tears, Roland ended up with FYI Resources and as far as I can gather from the 0ayments to him, ( and Sargeant and Jessup) in the annual reports has been doing very well since he joined in early 2011