ISR admits that partner at advisory firm engaged for rare earths deal is director of vendor

 

SINGAPORE (Aug 16): ISR Capital has admitted that a partner of the corporate advisory firm it has engaged for a major acquisition is also a director of the vendor in the deal.

In a filing late on Sunday, in response to queries from the Singapore Exchange, ISR said that Empire Capital partner Timothy Morrison was also a director of REO Magnetic. This is contrary to information ISR had given SGX only four weeks ago. And, it raises questions about conflicts of interest in ISR's bid to turn itself into a rare earths mining company.

---

Related Stories

• Reenova to exit tantalum venture, to offload concession for US$6 mil
• ISR signs MOU with Shenzhen-listed company to start talks on joint development of Tantalum mine
• Hunting for the truth redux: Our coverage of the penny stock saga attracted threats and lawsuits

---