Jan Cameron resurfaces after ASIC charges to invest in spy satellites

Reclusive multi-millionaire Jan Cameron has gone from investing in baby food to spy satellites, as she faces criminal charges.

Jan Cameron, pictured in 2016 with her dogs Tszyu, left, and Ruby, right. Picture: Nikki Davis-Jones

Reclusive multi-millionaire Jan Cameron has resurfaced, investing $3m in Luxembourg-headquartered spy satellite company, Kleos Space, as she works from her farm in Tasmania.

Kathmandu founder Ms Cameron - who could face up to five years in jail after the corporate regulator brought criminal charges against her earlier this year over her involvement in the boardroom battle for infant milk formula group Bellamy’s three years ago - has been welcomed with open arms at Kleos.

Chief executive Andy Bowyer said the company had “received commitments from entities controlled by Janet Cameron to raise $3m via the issue of 10,000,000 new ordinary fully paid CDIs”.

“I thank Janet for her continued support, the placement provides further security for Kleos Space as we move into an exciting period for our shareholders,” Mr Bowyer said.

According to its website, Kleos will launch and operate satellites that will generate commercial ISR (intelligence, surveillance, and reconnaissance) and geo-services data, which it will to government agencies, the intelligence community, “or businesses interested in locating threats”.

Ms Cameron’s investment comes as Kleos enters into an integrator and channel partner agreement with Red Group Technologies (RGT). As an authorised integrator, RGT will be provided with a guide price of €300,000 ($487,000) a year.

Kleos chairman Pete Round said the agreement has no fixed term and no payment is guaranteed until specifications, end use case, numbers of users and fixed price are agreed.

RGT chief executive Ron Demeter said: “We are excited to work with Kleos Space. This is a great opportunity that we believe provides substantial value to governments as they protect their borders and exclusive economic zones from illicit trafficking and other illegal activities.”

In February, the Australian Securities and Investment Commission brought charges against Ms Cameron, relating to alleged nondisclosure of investments in Bellamy’s, which ASIC claims were hidden from public view via a shelf company called Black Prince, domiciled in the Caribbean island of Curaçao.

During a shareholder revolt at Bellamy’s in 2017 which saw its then CEO Laura McBain ejected and a fight among major shareholders, Black Prince used its large voting block to attempt to kick out most Bellamy’s directors and appoint new directors allied with Ms Cameron.

For months the true identity of Black Prince and the investors behind it remained a mystery.

At the time Black Prince owned 14.48 per cent of Bellamys shares and Ms Cameron had 2 per cent of Bellamy’s capital in her own name.

It was later revealed Ms Cameron was behind Black Prince. It was also revealed the ultimate beneficiary of Black Prince was an entity called the Elsie Cameron Foundation, set up as an environmental charity by Ms Cameron and named after her mother. She was a trustee of Black Prince.