Schwalbs do the shuffle

 

Joel Schwalb has reduced his stake in Volante Group, withdrawing from one shareholding directorship to make way for his son, Ehoud Schwalb.

Joel Schwalb has reduced his stake in Volante Group, withdrawing from one shareholding directorship to make way for his son, Ehoud Schwalb.

Stewart Shears, company secretary at Volante Group, said in a statement to the ASX yesterday that Joel Schwalb -– one time founder of Ipex -– had passed his Kher Nominees shares to Ehoud.

“Joel Schwalb has been replaced as sole director of Kher Nominees by his son Ehoud Schwalb, who continues to remain as the sole shareholder of Kher Nominees,” Shears said.

“Kher Nominees shareholding in Volante Group remains unchanged.”

Company documents reveal that Kher Nominees controls just under 12 million shares of Volante Group. Summit Nominees –- which Schwalb has retained -– represents almost 13 million of a total 24 million shares controlled by Joel Schwalb at 30 June 2004.

Schwalb family trust Takapana Investments, which traded as Ipex Information Technology Group, owns a total 50 million shares or 47 percent of Volante, following a $73 million reverse takeover of Ipex by Volante last year.

Joel Schwalb is a director of Volante Group, as is his brother and fellow Ipex co-founder Yoav Schwalb, who held 13 million shares at 30 June 2004.

Volante Group had not responded to CRN’s calls at press time.


 
 
 
Top Stories
ANZ looks to life beyond the transaction
If digital disruptors think an online payments startup could rock the big four, they’ve missed the point of why people use banks, says Patrick Maes.
 
IBM, NEC picked for major NSW Transport deals
Final contract negotiations begin.
 
Uncapped fees to drive digital agenda at universities
University CIOs look to provide the 'wow' factor.
 
 
Sign up to receive iTnews email bulletins
   FOLLOW US...
Latest Comments
Polls
What is delaying adoption of public cloud in your organisation?







   |   View results
Lock-in concerns
  29%
 
Application integration concerns
  3%
 
Security and compliance concerns
  27%
 
Unreliable network infrastructure
  9%
 
Data sovereignty concerns
  22%
 
Lack of stakeholder support
  3%
 
Protecting on-premise IT jobs
  4%
 
Difficulty transitioning CapEx budget into OpEx
  3%
TOTAL VOTES: 1025

Vote