Jan Cameron, co-founder of Kathmandu retail chain, has been unmasked as the power behind the largest shareholder in troubled infant milk formula group Bellamy's Australia,
Shareholders associated with Ms Cameron are seeking to gain board control of Bellamy's, calling for a shareholder meeting to consider unseating the four independent directors from the board of the company.
If successful, this would give Ms Cameron and her associates control of Bellamy's.
Following action taken by Bellamy's directors to clarify the identity of who controls the largest block of shares in the company which are held in the name of the Black Prince Private Foundation, the sharemarket was informed Wednesday that Ms Cameron and Rodd Peters, a Sydney lawyer, sit behind the shareholding.
"There is an expectation that the Black Prince Private Foundation would act (with respect to the Bellamy's shares that it holds) in accordance with the wishes of the Elsie Cameron Foundation as expressed by the directors of its trustee, that is Jan Cameron and Rodd Peters," Bellamy's informed the sharemarket.
Ms Cameron has repeatedly stated that there is no link between herself and the Black Prince Private Foundation, which is registered offshore.
The Black Prince Private Foundation has a 14.5 per cent shareholding in Bellamy's.
However she did confirm to BusinessDay late Wednesday that the Elsie Cameron Foundation is the beneficiary of any dividend paid by Bellamy's or of any profit generated from the sale of shares held in Bellamy's.
Additionally, Ms Cameron said she gifted the shares held by Black Prince Private Foundation when Bellamy's undertook its sharemarket float.
Ms Cameron has a residual 2 per cent shareholding in Bellamy's.
