Farooq Khan

Sofcom Ltd 19-Jul-05 Farooq Khan became a substantial shareholder with a relevant interest of 6,255,349 ordinary shares (14.0%).

A one-time labour recruitment company chaired by Lyndon Rowe is being used by Wizard Home Loans founder Mark Bouris for a back-door listing of his new venture on the Australian Securities Exchange.

WHILE most of the state was taking a breather over the festive season, three Western Australian companies were busy tying up backdoor listing deals that radically change their areas of operation.

Queste Communications chairman and managing director Farooq Khan has agreed to reduce his salary by 50 per cent, resulting in a saving of $68,000 per annum for the company.

Middle Eastern minerals explorer Alara Resources has appointed non-executive director Philip Hopkins as managing director, to replace Shanker Madan, who remains as a non-executive director.

Pay cuts, some up to 50 per cent, were the order of the day in the Business News quarterly CEO salary survey, but not all companies have been on trend.

Perth-based investment group Bentley Capital has launched a $2.3 million unconditional on-market takeover offer for South Australian minerals explorer Marathon Resources.

FEATURE: Salaries have come under huge pressure during the past year as widespread cost cutting takes its toll on executives’ take-home pay.

Western Australia’s nickel miners are celebrating a classic supply-side surprise, which has driven the price of their metal sharply higher; but the same Indonesian government ban on the export of unprocessed nickel ore could soon do the same way for another WA specialty – bauxite.

The Farooq Khan-led Bentley Capital has revealed that it received an $8.4 million offer from a mystery bidder for its stake in the ASX-listed cash shell Molopo Energy.

Molopo Energy’s new board, led by Perth-based chair Samantha Tough, has announced the sale of its major asset and commenced a cost-cutting review, following a board shake-up last week.

Western Australia’s listed money managers had a strong 12 months to June 2014, but face a challenge to repeat that performance in 2015.

An investment company chaired by Perth businessman Farooq Khan has made an off-market $8 million cash bid for full ownership of Strike Resources, and may seek opportunities for the business outside the resources sector.

Yurn.it is a fashion aggregator website that allows users to browse 25 of the world’s top fashion retailers.

Outgoing migme chairman Howard Dawson plans to become a director of a Singapore-founded fantasy sports company that is seeking an ASX listing through Nevada Iron, as another Perth company backed out of a tech acquisition because of an ASX ruling.

Today’s board moves wrap includes David Maxwell, Dermot O’Keeffe, Aaron Gates, Peter Turnbull, Anthony Bellas, Chris Burns, William Johnson, Farooq Khan, Graham Fyfe and Victor Ho.