Wilson claims $5.6m of Bolton’s Magellan profits ‘unaccounted for’
Jonathan ShapiroSenior reporter
Key Points
- WAM says profits from Nick Bolton’s Magellan options trade are not accounted for
- Keybridge is Bolton controlled but Geoff Wilson’s WAM is its largest shareholder
- The pair has been feuding since 2016
Fund manager Geoff Wilson’s Wilson Asset Management has written to activist investor Nick Bolton demanding more information about the allocation of $17.8 million of proceeds from its successful Magellan options trade.
Lawyers acting for Mr Wilson’s WAM Active say $5.6 million of profits “are unaccounted for” following an update last month from the Bolton-controlled Keybridge Capital.
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