Weldon caught, SFO ponders LM and MRP 'carpet bomb'

Former NZX boss Mark Weldon is apparently furious after being caught out by a tardy Diligent disclosure.

Former NZX boss Mark Weldon has been inadvertently caught out by poor disclosure of his interests as a director in Diligent Board Member Services.

The company's internal review of corporate governance has uncovered the shareholding interests of several directors and officers of the listed technology company, including Mr Weldon, were filed in an "untimely" manner.

In Mr Weldon's case it was 10 months later.

Elsewhere in the National Business Review print edition, the Serious Fraud Office confirms it is evaluating an investigation after the collapse of Australian mortgage fund manager LM Investment  Management.

Columnist Michael Coote says the Mighty River Power share offer has been deliberately pitched above the heads of potential small investors, and suggests they are the victims of a cynical ploy known in investment circles known as carpet bombing.

Writing in the In Depth section, Capital Economics director Bryce Wilkinson says his recent New Zealand Initiative report shows fears of an Asian takeover of New Zealand are chimerical.

Meanwhile, economics editor Rob Hosking reports the government's $10 billion revision of the estimated $40 billion Canterbury rebuild has set alarm bells ringing about a potential boom and bust cycle.

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