Building titan Lev Mizikovsky joins battle for control of Gold Coast listed dental group Smiles Inclusive

A millionaire motorcyclist has joined the battle for control of struggling listed dental group Smiles Inclusive, taking aim at would-be mutineer directors who earlier moved to unseat the company’s new chairman.

Brisbane businessman Lev Mizikovsky. AAP Image/Steve Pohlner

A MILLIONAIRE motorcyclist has joined the battle for control of struggling listed dental group Smiles Inclusive, taking aim at would-be mutineer directors who earlier moved to unseat the company’s new chairman.

The latest agitators are major shareholder Lev Mizikovsky, founder of Brisbane-based homebuilding outfit Tamawood and Jonathan Hamilton.

Ousted CEO and founder Mike Timoney and former chairman David Herlihy combined their shareholdings on Tuesday and called an extraordinary general meeting to remove new chairman David Usasz and executive director Tracey Penn.

David Usasz.

Mike Timoney.

SUDDEN DEATH OF DENTIST HURTS SMILES INCLUSIVE RESULTS

But in a statement to the ASX this morning, Mr Mizikovsky and Mr Hamilton stepped forward with two new resolutions for the meeting, aimed at removing Mr Timoney and Mr Herlihy from the board.

Mr Timoney hit back with a statement late yesterday saying the new resolution were an example of the current “poor governance”.

“We are focussed on good governance and the right talent at both board and management level,” he said.

“The treatment of the latest meeting requisition is a clear example of the poor governance now in place at the company and we will take this these issues to both ASIC and the ASX.”

The Bulletin has contacted Mr Usasz for a response.

The outspoken Mr Mizikovsky has made headlines previously for battling a $219 traffic fine for crossing a white line on his custom-built Harley Davidson and for helping fund the legal battles of fallen former Ipswich Mayor Paul Pisasale. A tally last year showed he owned more than $100 million in stock in four companies and more than $30 million in properties.

Lev Mizikovsky with Manlika Winothai when he challenged another traffic fine last year. AAP Image/Steve Pohlner

Mr Timoney left the company’s executive following the release of disappointing half-year financial results earlier this month, while Mr Herlihy left as chairman of the Burleigh Heads company on Monday.

Both men remain on the board as non-executive directors.

In their move, Mr Timoney and Mr Herlihy have put forward paediatric dentist and SIL shareholder John Camacho for election to the board.

The meeting to consider all the resolutions will be held on May 22.

Smiles Inclusive Limited deputy CEO Tracy Penn. Photo: Supplied

Former Smiles Inclusive Limited chairman David Herlihy. Photo: Supplied

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Smiles Inclusive went into a trading halt on March 1 after more than half its value was wiped from the stock exchange in a single morning after it revealed a half-year net loss of $1.59 million on practice revenue of $16.1 million.

The share price for the company, which listed at $1 a share in April last year and was previously valued at close to $60 million, opened trading at 16.5c today with market capitalisation of $9.56 million.