monarch rescue

7:23 AM, 24 Jul 2008 Tiddler plan for Monarch Gold rescue
Abstracted from The West Australian


Alexanders Securities has entered into an agreement with Crawley Investments, a company linked to the family interests of Michael Kiernan. Under the agreement, Crawley will acquire 100 million shares in Alexanders at $A0.01 each, giving it a 25 per cent in the company. Alexanders will also issue Crawley with 150 million options, which if all are exercised, would give it up to a 40 per cent stake in Alexanders. It is understood Kiernan aims to use Alexanders as a vehicle to bid for all or parts of Western Australian gold miner Monarch Gold, which collapsed on 10 July 2008. Kiernan has indicated to its administrators Pitcher Partners that he is interesting in buying Monarch Gold, or at least some of its assets


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