Alan Dixon sold out eight days before ASIC case

Alan Dixon sold out eight days before ASIC case
On the afternoon of August 27, noted Quentin Tarantino fan and Dixon Advisory scion Alan Dixon dumped every single share he held in the troubled amalgam of Evans & Partners and Dixon Advisory he helped float only two years ago. By the morning of September 4, ASIC filed notice it was commencing civil action against…

On the afternoon of August 27, nicely-known Quentin Tarantino fan and Dixon Advisory scion Alan Dixon dumped every single share he held in the afraid amalgam of Evans & Companions and Dixon Advisory he helped waft most efficient two years in the past. By the morning of September 4, ASIC filed look it used to be commencing civil breeze against Dixon Advisory, for allegedly failing to act in its clients' simplest interests.

Eight days separate these two events. Marvellously stunning timing for Dixon, if no longer for unpleasant dilapidated Tony Pitt at 360 Capital, now primarily the most attention-grabbing shareholder, who wolfed up every single one of many shares dumped by Dixon and his deepest company, Mr Orange Pty Ltd, for $18.6 million.

The founders of Evans Dixon, Alan Dixon and David Evans.  Eddie Jim

Shine Legal professionals were already investigating a category breeze over same elements, first publicly aired on this newspaper. But ASIC’s lawsuit used to be serene beautiful ample to knock 15 per cent off Evans Dixon’s share trace on Friday, the already-savaged stock closing at 45¢.

Which is, incidentally, exactly what Pitt paid for Dixon's shares, the sale of the 16.7 per cent stake having been performed at a 12.6 cut price to the August 27 opening trace.

If Dixon used to be promoting on Friday and the same cut price used to be applied to his block trade, Pitt would maintain paid a mere 39.3¢ a pop, saving some $4 million. Not lower than the stock preserving to what he'd paid on Friday technique he's no longer reserving a predominant paper loss on the investment – but.

On the afternoon of August 27, nicely-known Quentin Tarantino fan and Dixon Advisory scion Alan Dixon dumped every single share he held in the afraid amalgam of Evans & Companions and Dixon Advisory he helped waft most efficient two years in the past. By the morning of September 4, ASIC filed look it used to be commencing civil breeze against Dixon Advisory, for allegedly failing to act in its clients' simplest interests.

Eight days separate these two events. Marvellously stunning timing for Dixon, if no longer for unpleasant dilapidated Tony Pitt at 360 Capital, now primarily the most attention-grabbing shareholder, who wolfed up every single one of many shares dumped by Dixon and his deepest company, Mr Orange Pty Ltd, for $18.6 million.

The founders of Evans Dixon, Alan Dixon and David Evans.  Eddie Jim

Shine Legal professionals were already investigating a category breeze over same elements, first publicly aired on this newspaper. But ASIC’s lawsuit used to be serene beautiful ample to knock 15 per cent off Evans Dixon’s share trace on Friday, the already-savaged stock closing at 45¢.

Which is, incidentally, exactly what Pitt paid for Dixon's shares, the sale of the 16.7 per cent stake having been performed at a 12.6 cut price to the August 27 opening trace.

If Dixon used to be promoting on Friday and the same cut price used to be applied to his block trade, Pitt would maintain paid a mere 39.3¢ a pop, saving some $4 million. Not lower than the stock preserving to what he'd paid on Friday technique he's no longer reserving a predominant paper loss on the investment – but.

No such hope for Evans Dixon's executive chairman, Melbourne blue blood David Evans. His 6.7 per cent stake has misplaced 82 per cent since floating at $2.50 in May also simply 2018.

At the closing AGM, held on November 11 at Evans & Companions' opulent Collins Freeway premises, Evans used to be requested if he'd come to remorse merging his trade with Dixon's in 2017.

His (moderately hesitant) reply: “uh … I don't reflect so … I reflect I serene think in regards to the selection to position the two corporations collectively is finally going to indicate to be a truly stunning thing”.

Wonder if he'd suppose the same this day.

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