Tony Sage

Antony William Paul Sage, known as Tony Sage (born 26 June 1960), is a Western Australian businessman. A qualified chartered accountant and fund manager, he finances and manages mining and exploration companies in Australia and overseas. He also owns Perth's A-League football team, Perth Glory. He also owns glamour fashion magazine, KURV, and is part owner of the hugely successful Perth Fashion Festival.He was awarded best Australian executive by Resource Stocks Magazine in 2009 and Cape Lambert was named AIM Company of the year in 2008.^[1][2]

Biography

Born in Gloucester, England, on 26 June 1960, Sage moved with his to Australia in 1969, residing first in Adelaide, then Melbourne and Sydney before again moving to New Zealand with his mother and father in 1975. In 1978 he went to Western Australia and enrolled at Churchlands College (now part of the Edith Cowan University) in Perth. He graduated with a Bachelor of Business (Accounting and Finance) in 1980. He later became a Fellow of the Society of Certified Practising Accountants, a Chartered Accountant, and a Fellow of the Taxation Institute of Australia. He has three children.

Corporate interests

As of October 2014, Sage was Executive Chairman of Cape Lambert Resources Ltd, and Non Executive Chairman of Cauldron Energy Ltd and Fe Ltd.^[3] He is a non-executive director of Kupang Resources Ltd, Caeneus Minerals Ltd, and International Petroleum Limited and Managing Director of his consultancy business Okewood Pty Ltd.^[3][4][5] He is also owner and publisher of Kurv magazine and part owner of the highly successful Perth Fashion Festival. He came to prominence in 2008,when he sold a magnetite project called Mt Anketell to the Metallurgical Corporation of China for $400 million after buying it 18 months earlier for just $20m. He also created history in the sector by buying the debt of receivered company, CopperCo from the banks and converted that debt to equity. Since then sold all the CopperCo assets for approximately $300m. Since 2005 when Cape Lambert was floated a staggering $235m has been returned to shareholders in dividends buybacks and capital returns. The Company has not raised any capital since listing. The other notable deal was the sale of African Iron Ltd to Exarro. The asset was originally purchased for $2m and sold 2 years later for a see through value of approximately $375m.

From at least 2012 to February 2014, Cape Lambert was the subject of continuing investigations by the Australian Taxation Office. The result was a $96m assessment issued to his flagship company, Cape Lambert Resources Ltd, plunging the share value by 75%. After two years of intense scrutiny, the ATO settled for $2.4m.^[5][6]

References