15 January 2008
To: Nick Main, Chair NZBCSD
From: Peter Neilson, CEO NZBCSD
STRICTLY CONFIDENTIAL
ADVISORY: POSSIBLE PERSONAL INVESTMENT
Nick,
As discussed today, I am in receipt of a confidential business proposal seeking investment in a new information service to serve the emissions trading market.
Graeme Colman is the chair and majority shareholder in the publishing company which will provide this service.
I propose to make a minority investment in the company. At this stage there are four unrelated investors.
The company has a separate General Manager appointed, along with an Editor and its services are currently under development.
Neither I nor Graeme will have any involvement in the day to day direction and operation of the information service which will rely, as all news services do, on the integrity of being managed independently, with editorial balance and impartiality. These conditions are part of the contract between the company and its Editor.
As I am not involved in day to day management I do not envisage any conflict of professional interest arising from this personal investment.
However, the issue is one for discussion with you and Exco prior to my confirming my investment, if you wish.
Kind regards
Peter Neilson
This smells very bad to us here at The Hive. Who is out there campaigning hard for an Emissions Trading market?? And who is potentially going to make personal profit should it be set up??
