News blog

Pires Investments

• BY: Andrew Hore |
• POSTED: 06/12/2012 |

Otterswick UK Ltd has taken a 9.6% stake in Pires Investments.

Otterswick was formed at the beginning of 2012. Its directors appear to be Sean Michael Blackwell and Yoram Yossifoff. The latter is an Israeli lawyer who was an adviser to one of the many owners of Portsmouth FC in recent years and who introduced another owner, Balram Chainrai, to the club.

Blackwell appears to be a former Hoodless Brennan employee - CF1 director, CF21 investment adviser and CF8 appointment and oversight according to the FSA - but he left at the end of 2002.

Earlier this year, shareholders approved a CVA for Pires, then known as Oak Holdings, and agreed a new investing policy for the company. The focus is on resources in Asia.

At 0.1p a share, Pires is valued at £1.82m. At the end of April 2012, Pires had £1.6m in the bank and the NAV was £1.3m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFNovember2012_38.pdf