Bolton on a wave at Keybridge Capital, but Wilson might cut in

SURF’S up for tubular dude Nicholas Bolton and his fellow grommets at Keybridge Capital, which holds its annual meeting today at 3pm at the Sebel Manly Beach Conference Centre it owns, directly overlooking Manly’s fabled beach.

“We wanted to give our shareholders a better idea of an asset that’s on our books and it saves on booking fees,” managing director Bolton said.

Bolton, who shot to prominence in 2009 after mounting a $4 million raid on Macquarie Group-backed toll road dud BrisConnections, is asking shareholders to give him an extra nine million shares.

His Australian Style Group already owns 19.96 per cent and by Margin Call’s calculations the extra shares would take him over the 20 per cent takeover threshold, even taking into account that other directors are to get smaller bundles of their own. However, Bolton says the shares vest in tranches over three years, engaging the creep provisions of the law, so he doesn’t have to mount a bid.

But could fund manager Geoff Wilson, whose Wilson Asset Management snapped up nearly 9 per cent of the company late last year, be a Bondi cigar on what is otherwise shaping as a perfect Manly afternoon?

Keybridge’s directors can’t vote on their own share issues, amplifying Wilson’s voice.

“I’ve got no comment specifically on what Geoff might be doing,” Bolton said. Wilson couldn’t be reached.

Secret justice

MYSTERY surrounds the fate of alleged insider trader Oliver Curtis, better known in Sydney social circles as the manbag to PR maven Roxy Jacenko, thanks to an extraordinary injunction imposed by the secretive NSW Supreme Court.

In recent weeks the Curtijenkos have given every impression of preparing for the no doubt remote possibility Curtis, who has pleaded not guilty, might have to move from the family’s luxurious Woollahra mansion to somewhat more Spartan jailhouse digs provided by Her Majesty. They’ve sold the spread, reportedly for more than $8m, and this week Roxy held a garage sale to get rid of outmoded designer duds belonging to her and daughter Pixie.

However, Curtis’s trial, which was due to start last Monday (November 17) has been thrown into chaos.

In a cryptic note on its website, the Australian Securities & Investments Commission says the trial date “will not now be known until February 2015”. ASIC is unable to say any more because of a suppression order, first imposed in August and varied by Justice David Davies on Monday, the terms of which are secret.

Indeed, the court has not even notified media organisations that the latest order exists.

How journalists are supposed to obey the edicts of secret justice is not clear. This week, the court has refused requests for a copy of the order. All a spokeswoman would say is that it “prevents anything being disclosed relating to the basis for, or reasons for, the trial being vacated”.

Tweet campaign

WHY do all those tweets supporting alleged illegal cab operator Uber against its taxi industry critics look the same? As flagged yesterday by Margin Call’s Business Spectator colleague Harrison Polites, it’s because the apparent surge of grass-roots support has actually been orchestrated by the US “ride sharing” group.

Uber spokeswoman Katie Curran said none of the tweets had been paid for and the company was “truly grateful” for the support. Aww.

Out on a limb

BIG Clive is causing a stir in Port Douglas ... Clive the croc, that is. He’s a four metre saltie that about a month ago moved into the mangroves near the marina, allegedly after displacing the previous territorial incumbent in time-honoured saurian style. But sadly Clive has been a major disappointment among love-starved lady crocs looking for a change of scene.

Apparently he ignored all but one, who came in for some serious rough and tumble and now has only three legs.

In tasteful FNQ style she’s now called Heather after Sir Paul McCartney’s ex missus.

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