Lew unwinds after end of Coles Myer boardroom battle.

Australasian Business Intelligence, December, 2002

Dec 18, 2002 (The Age - ABIX via COMTEX)

Former Coles Myer director, Solomon Lew, has begun selling his call and put options over about 3.8 of the retailer's stock. On 18 December 2002, Sydney broking firm, Southern Cross Equities, sold 1.5 of Lew's stake, or 18 million shares, in the Australian retailer at $A9 a share. The stake, worth $A162m, matched the terms of put options acquired by Lew's private company, First Retail Investments, in mid-October 2002. First Retail also bought 18 million Coles Myer shares on the same day as it bought the put options. Following the sale, Lew family-controlled companies still hold about 27.5 million options-linked shares in Coles Myer, but these are expected to be sold on 19 December. Coles Myer shares closed $A0.04 lower at...

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