SMAM denies business links with EKS
New Delhi: Australia-based firm, SMAM which
was fired by the CWG organising committee on grounds of
non-performance, on Wednesday denied any business interests with EKS,
a consultancy firm hired for the sporting event.
Reacting to the reported connection between Sports
Marketing and Management (SMAM) and Switzerland-based Event
Knowledge Services (EKS), SMAM said that EKS owner Craig
McLatchey has no business interest in SMAM.
"Craig McLatchey holds no business interests or voting or
controlling rights in SMAM or in any other company owned by
Michael Bushell," SMAM said in a statement.
Hundred per cent shares in SMAM are beneficially held by
Michael Bushell and voting rights of the firm are entirely
controlled by him, it added.
Media reports had said Craig McLatchey, the sole owner
of EKS, a company hired as a technical consultant for the CWG,
had stake in SMAM through indirect holdings.
According to the reports, McLatchey holds 50 per cent
stake in a company called Ithaca Pty Ltd, which holds `F`
class shares in another company--Eris Pty. Eris in turn owns
24 per cent shares in SMAM.
"Ithaca, in its capacity as trustee of the McLatchey
Family Trust, holds one "F" class share in Eris, a private
investment company of the Bushell family. Eris owns 24 pc of
SMAM (the remaining 76 pc is owned by Michael Bushell)," SMAM
said, adding `F` class share do not have any voting rights.