Monday 1st September 2014

Dear Reader,

We're back from the summer.

NEW ARTICLES
Veto Lerado (1225) sale until they pay up
We call on Lerado shareholders to veto the sale of its core business unless and until the board increased the proposed special dividend from $0.30 to at least HK$1 per share. We would rather hold a stake in a real business than get trapped in another shell trading at a discount to its net cash. Management only owns 33%, so they had better listen to investors and revise the plan. David Webb holds just under 8%, and we need your support. (1-Sep-2014)

Soon, we can all be rubber stamps
Our take on yesterday's command from Beijing. (1-Sep-2014)

IN OTHER NEWS
Reasons why Fujian Nuoqi (1353) mainland listing was rejected by CSRC on 9-Nov-2011
CSRC, 27-Aug-2014

HKICPA fines Mr Chui Yiu Chung HK$20k + costs
HKICPA, 26-Aug-2014

Roger Tsui Chi Fung banned for 9 months for providing false information to SFC
SFC, 26-Aug-2014

The ruling: LME is an organ of the UK Government, and was not engaging in "commercial" activity
US Court: Southern District, New York, 25-Aug-2014
The judge grants sovereign immunity and says: "Whether the LME manipulated its load-out rules to make more money is irrelevant to whether it was a 'commercial' activity as defined".

Solicitor Wu Wing-kit & wife of former ED of Natural Dairy (0462) guilty
ICAC, 25-Aug-2014

Ex-senior executives of China Mining Resources (0340) jailed. Hall of Shame
ICAC, 25-Aug-2014
The former director, Peter Joseph Luk Kin, thereby enters the Webb-site Hall of Shame.

And much more besides...
Remember that, apart from our occasional artisan articles, you can follow Webb-site Reports via RSS, Twitter, or Facebook.

Pass it on!
This free newsletter goes to over 20,000 subscribers. If you enjoy the site, then please invite a friend to find out what they are missing and subscribe!