Forum Archive Index - March 2004

["David & Jill Stevenson" <djstevo@quicksilver.net.nz>]

PMV, a leveraged Australian Investment company , which is 15.94% owned by GPG  (at one time over 22% ) but which is majority owned by Century Plaza Investments ( approx 51 % ) (effectively Solomon Lew one time chairman of Coles Myer Ltd ) well PMV has two major investments in it`s portfolio .

 

  (1) From memory about 80 million shares in CML .

 

  (2) A fairly substantial holding in Houseware Intenational pty ltd  or HWI . This latter has been a very successful investment for PMV. especially compared to CML which appears to have been Solomon Lew`s nemesis . Sir Ron Brierley would appear to have stuck with Solomon Lew for reasons of loyalty or other perverse non business motivation as far as I can see. Solomon Lew had aspirations of becoming CML Chairman again.

 

   PMV was topping up a relatively long held holding in HWI  in the half year ending 31/12/01 by  approx 5 million additional shares at average 88 cents . What are they now - approx 2-30 . They made a takeover for Breville a couple of years ago .

 

                                              David