Australian Defence Recruitment,Chandler MacLeod,& Paul Keating

As previously reported the Australian Defence Recruitment contract has been awarded to Chandler Mcleod,a company that has recently reported both operating cash flow and cash balance deficits. (see story below).

On 9 September 2008, just 2 months after the award of the contract Chandler sought and obtained an injection of funds from Lazard Carnegie Wylie, who are now Chandler's largest shareholder. As stated by Chandler:


SYDNEY: 9 September 2008 - Chandler Macleod Limited (“Chandler Macleod” or the
“Company”) today welcomed Lazard Carnegie Wylie Investment Management Pty Ltd (including it’s affiliates) (“LCWIM”) as a new cornerstone investor as part of a broader recapitalisation of the Company.
“We are pleased that an investor of Lazard Carnegie Wylie’s calibre recognises Chandler Macleod’s strengths and opportunities and the confidence it has shown in the Company and its management team,” said Managing Director Ian Basser. “We believe the stability of Chandler Macleod’s business model, centring around an increasingly important contribution from the Company’s strategic focus on multi-year outsourced workforce management service contracts, and growth prospects like the Defence Force Recruitment contract make the Company an attractive proposition for investors.”
http://www.aspectfinancial.com.au/asxdata/20080909/pdf/00878422.pdf


Lazard Carnegie Wylie was formed on 31 July 2007 as a result of the acquisition of Carnegie, Wylie & Company by Lazard, the global financial advisory and asset management firm.

Lazard Carnegie Wylie's principal activities are focused in:

-advisory, comprising M&A and equity capital markets transactions
-private equity

Paul Keating is Chairman Corporate Advisory International

www.lazardcarnegiewylie.com/about-lcw.aspx

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