Stokes’ Seven West poison pill scares some fund managers

Original article by Dominic White
The Australian Financial Review – Page: 37 : 30-Mar-15

The Kerry Stokes-controlled Seven Group Holdings owns nearly 35 per cent of Seven West Media’s shares. However, Stokes could potentially move to 49 per cent ownership of Seven West in 2016, when $A250m worth of convertible preference shares are due to be redeemed. When interest is taken into account, Stokes will be owed $A350m. The other option for Seven West will be to convert this sum into the company’s shares, which would allow Stokes to increase his holding significantly

CORPORATES
SEVEN GROUP HOLDINGS LIMITED – ASX SVWSEVEN WEST MEDIA LIMITED – ASX SWMFAIRFAX MEDIA LIMITED – ASX FXJ

Leave a comment