Adam Blumenthal’s EverBlu Capital raised $5 million on behalf of Creso Pharma but didn’t disclose that one fifth of the placement earlier this year came from Mr Blumenthal’s parents, breaching ASX rules about related party disclosures.
In a statement on Tuesday morning, Creso said it breached market listing rules in February this year when it issued a statement confirming it had commitments for $5 million new shares that had free options attached.
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Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au
Jemima Whyte writes on business, specialising in companies, capital markets and innovation. Jemima has reported on business for The Australian Financial Review for more than 13 years. Email Jemima at jemima.whyte@afr.com
Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
