Hunter Hall International says it's 'business as usual'

In response to a series of questions from Good Returns, Hunter Hall International says that although this is a time of some uncertainty in terms of who our largest shareholder will be, "other than that it is very much business as usual for us."

The drama started in late December when Peter Hall shocked the market by resigning from the company he founded in 1993, because of a "complex range of personal and family reasons." Investors were left dumbfounded when Hall sold a 19.9 per cent stake in Hunter Hall International (HHL) to the Australian investment conglomerate WH Soul Pattinson (WHL) at less than a third of their face value.

Having also agreed to sell his remaining 24.05% stake to WHL for $1 a share, Hall urged remaining shareholders not to accept the same offer. Since then a higher bid has emerged from Pinnacle Investment Management which says it'll raise its $1.50 per share offer to $2 – if it gains control.

Adding to investor angst was the fact that WHL owns a controlling stake in the Hunter Valley coalminer New Hope Corporation, and that – as a private investor – Hall said he was attracted to a number of opportunities in the resources sector.