Wednesday, 6 May 2015
Last updated 2 hours ago
Sep 24 2007 | 12:14pm ET
Last week, Florian Homm assured Absolute Capital Management shareholders and clients that he would “continue to fight for shareholder value” in spite of his shock departure from the firm. He may well do so, but his voice has become considerably less important.
Homm—who, in his resignation letter, touted his status as “the largest single shareholder in ACMH”—unloaded more than 75% of his shares on Andreas Rialis, whose Argo debt fund management firm is to merge with ACM. The sale of 10 million ACM shares for just £0.325 a piece—a more than 30% discount—leaves Homm with just a 4.77% stake in the firm he founded. Homm’s investment vehicle, CSI Asset Management, had owned nearly 20% of ACM.
ACM’s share price plummeted more than 80% after Homm’s resignation, leading some to suggest that Rialis would try to back out of the ACM merger.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…