No images? Click here Morgans’ Role in Smiles Inclusive’s Directors’ Election Today’s Financial Review, Monday 20 January 2020, carries an article headed “Morgans’ dual role in dental spat revealed”. The article by Liam Walsh claims to have seen internal documentation of stock broking firm Morgans advising its client advisors with clients invested in Smiles Inclusive to encourage clients to support the re-election of Mr Peter Evans a former senior member of Morgans. The article points out that Smiles Inclusive – backed by Morgans has been a disaster. According to the article Morgans is under the spotlight in litigation in which a former client who backed failed funds manager Blue Sky Alternative Investments has complained about incentives for raising funds. The Financial Review last year revealed the internal email showing Brisbane based Morgans corporate office had been “concerned” that advisers were not taking up shares in a float of Smiles Inclusive which Morgans had been backing. The $35 million float in 2018 of Smiles Inclusive has been a disaster for investors. Shares issued at $1 in 2018 closed at 4.8 cents on Friday 17 January 2020. Synstrat Management Pty Ltd pointed out at the time that it did not believe that the forecast shown in the prospectus were achievable Best Wishes to all dentists, Graham Middleton The Synstrat Group are Australia's most experienced Dental practice business advisers, accountants, practice valuers and licensed financial advisers. The information contained herein is of a general nature and no specific action should be taken without individual advice. Synstrat Management Pty Ltd P. 03 9843 7777 ABN 57 006 295 325 If you are not the intended recipient of this communication please delete and destroy all copies of this message and telephone Synstrat on +61 3 9843 7777 immediately. If you are the intended recipient of this communication you should not copy, disclose or distribute this communication without the authority of Synstrat. Any views expressed in this communication are those of the individual sender, except wh ere the sender specifically states them to be the views of Synstrat. If you do not wish to receive this email in future, please reply to the sender requesting termination of service. |