BUSINESSMEN – AUSTRALIA

Stokes jumps Chinese buyers to get Kangaroo Island farm

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Original article by Simon Evans
The Australian Financial Review – Page: 31 : 29-Jun-15

Kerry Stokes and his business partner Peter Murray have paid $A4.7m for the 2,823-hectare Woodlana Station on Kangaroo Island in South Australia. Stokes now owns more than 10,000 hectares of farmland on Kangaroo Island and the Fleurieu Peninsula. Woodlana boasts 68 dams, 6,000 sheep and 500 cattle, and had been placed in receivership in mid-2014.

CORPORATES
COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA) LIMITED, HEARD PHILLIPS

CGT discount too generous: Tony Shepherd

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Original article by Joanna Mather
The Australian Financial Review – Page: 5 : 23-Jun-15

Australian business leader Tony Shepherd says the capital gains tax (CGT) rate should be increased to the same level as the income tax rate. He has also advocated changes to the CGT discount of 50 per cent and increasing both the rate and scope of the goods and services tax.

CORPORATES
COMMITTEE FOR ECONOMIC DEVELOPMENT OF AUSTRALIA, AUSTRALIA. NATIONAL COMMISSION OF AUDIT

Young Rich lister seeks IPO success

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Original article by John Stensholt
The Australian Financial Review – Page: 41 : 17-Jun-15

Metro Property Development is undertaking a $A170m institutional bookbuild as it prepares to debut on the Australian sharemarket in July 2015. The personal wealth of CEO Luke Hartman was estimated at $A92m in the 2014 edition of the BRW Young Rich List. Hartman will be seeking to emulate the success of other recent IPOs of companies headed by members of the exclusive list, including SurfStitch, Aconex and Rewardle.

CORPORATES
METRO PROPERTY DEVELOPMENT PTY LTD, SURFSTITCH GROUP LIMITED – ASX SRF, ACONEX LIMITED – ASX ACX, REWARDLE HOLDINGS LIMITED – ASX RXH, VOCATION LIMITED – ASX VET, AUSTRALIAN CAREERS NETWORK LIMITED – ASX ACO, STANDARD AND POOR’S ASX ALL ORDINARIES INDEX

Patrick Grove, 40, cracks the Rich List with $286m

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Original article by John Stensholt
The Australian Financial Review – Page: 1 & 9 : 26-May-15

The 2015 edition of the "BRW" Rich List includes 12 new technology entrepreneurs, including iFlix founder Patrick Grove. The company offers streaming video services for mobile phone users in Asia, which Grove notes is a market of up to 250 million people. Grove has previously listed a number of companies on the Australian sharemarket, including iProperty and iCar Asia, and he says an iFlix IPO is possible in the future.

CORPORATES
IFLIX LIMITED, IPROPERTY GROUP LIMITED – ASX IPP, ICAR ASIA LIMITED – ASX ICQ, IBUY GROUP LIMITED, REV ASIA BERHAD, NETFLIX INCORPORATED, HULU LLC, CATCHA GROUP, PHILIPPINE LONG DISTANCE TELEPHONE COMPANY, FAIRFAX MEDIA LIMITED – ASX FXJ, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, STAN, REA GROUP LIMITED – ASX REA, ANDERSEN

Pokie king’s gamble on Mayne Pharma works

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Original article by John Stensholt
The Australian Financial Review – Page: 29 : 14-May-15

Australian businessman Bruce Mathieson has a 7.46 per cent stake in drug manufacturer Mayne Pharma. The sharp rise in its share price in 2015 has lifted the value of Mathieson’s shareholding to around $A70m. Mayne’s market capitalisation is now almost $A1bn, and Mathieson expects the stock to keep rising. Mathieson is a non-executive director of Mayne.

CORPORATES
MAYNE PHARMA GROUP LIMITED – ASX MYX, STANDARD AND POOR’S ASX ALL ORDINARIES INDEX, AUSTRALIAN LEISURE AND HOSPITALITY GROUP LIMITED, WOOLWORTHS LIMITED – ASX WOW, PFD FOOD SERVICES PTY LTD, REECE AUSTRALIA LIMITED – ASX REH, THORNEY INVESTMENTS PTY LTD, FAIRFAX MEDIA LIMITED – ASX FXJ, PFIZER INCORPORATED, WESTERN DESERT RESOURCES LIMITED – ASX WDR

Investors push for Corbett

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Original article by Sue Mitchell
The Australian Financial Review – Page: 25 : 14-May-15

Roger Corbett has declined to comment on a push by Woolworths shareholders for him to take up the role of chairman. Corbett was CEO from 1999 to 2006, and he has worked in the retail sector for more than four decades. Some shareholders argue that Corbett’s expertise is needed to turn around Woolworths’ flagging performance. Wesfarmers recently announced that former CEO Michael Chaney will become chairman later in 2015.

CORPORATES
WOOLWORTHS LIMITED – ASX WOW, WESFARMERS LIMITED – ASX WES, FAIRFAX MEDIA LIMITED – ASX FXJ, MAYNE PHARMA GROUP LIMITED – ASX MYX, HOSPIRA PTY LTD, ABERDEEN ASSET MANAGEMENT LIMITED, BIG W DISCOUNT STORES, ALDI STORES SUPERMARKETS PTY LTD, WAL-MART STORES INCORPORATED, AUSTRALIAN LEISURE AND HOSPITALITY GROUP LIMITED, FOODLAND ASSOCIATED LIMITED, TESCO PLC, KELLOGG COMPANY

Symond calls for ban on interest-only

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Original article by Shaun Drummond
The Australian Financial Review – Page: 18 : 17-Mar-15

Australian businessman John Symond says residential property buyers who intend to be owner-occupiers should be prohibited from taken out interest-only loans. There has been strong growth in interest-only mortgage loans in recent years, particularly to property investors. Symond, who is the chairman of Aussie Home Loans, argues that property investors tend to be a lower risk than owner-occupiers

CORPORATES
AUSSIE HOME LOANS LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, WESTPAC BANKING CORPORATION – ASX WBC, MEMBERS EQUITY BANK PTY LTD, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, RESERVE BANK OF AUSTRALIA

Gordon offers to pump up to $100m into Ten

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Original article by Dominic White
The Australian Financial Review – Page: 15 & 20 : 11-Mar-15

The Ten Network’s largest shareholder, Bruce Gordon, opposes the broadcaster’s proposed acquisition by Foxtel and Discovery Communications. The 14.9 per cent stakeholder has instead approached Ten about investing an additional $A70m to $A100m in the network. This investment would be converted into equity in Ten if cross-media ownership laws are changed in the future. Gordon has also proposed being given two seats on Ten’s board

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, WIN CORPORATION PTY LTD, FOXTEL MANAGEMENT PTY LTD, DISCOVERY COMMUNICATIONS INCORPORATED, CROWN RESORTS LIMITED – ASX CWN, NEWS CORPORATION – ASX NWS, HANCOCK PROSPECTING PTY LTD, CITIGROUP PTY LTD, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, LAZARD ASSET MANAGEMENT PACIFIC COMPANY

Stokes happy with BC Iron takeover bid

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Original article by Peter Ker
The Australian Financial Review – Page: 17 : 12-Aug-14

Australian businessman Kerry Stokes will be the largest shareholder of BC Iron if its $250m cash and scrip bid for Iron Ore Holdings (IOH) succeeds. Stokes has a 25 per cent stake in the target, and the offer of $A0.10 per share plus 0.44 shares in BC Iron for every IOH share would give him a 19 per cent stake in BC. IOH shares rose by $A0.37 to $A1.35 on 11 August 2014, while BC Iron was down $A0.32 at $A2.99

CORPORATES
BC IRON LIMITED – ASX BCI, IRON ORE HOLDINGS LIMITED – ASX IOH, FORTESCUE METALS GROUP LIMITED – ASX FMG, AURIZON HOLDINGS LIMITED – ASX AZJ, SHANGHAI BAOSTEEL GROUP CORPORATION, AQUILA RESOURCES LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, SEVEN GROUP HOLDINGS LIMITED – ASX SVW, NEXUS ENERGY LIMITED – ASX NXS

Big offer for Lew’s Country Road stake

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Original article by Sue Mitchell
The Australian Financial Review – Page: 11 : 22-Jul-14

Country Road executives have advised shareholders to accept Woolworths Holdings’ offer of $A17 per share. Businessman Solomon Lew has an 11.8 per cent stake in the retailer, and his support for the offer is crucial if Woolworths is to gain full ownership. An independent expert’s report by Lonergan Edwards & Associates has valued Country Road shares at between $A14.92 and $A16.22

CORPORATES
COUNTRY ROAD LIMITED – ASX CTY, WOOLWORTHS HOLDINGS LIMITED, LONERGAN EDWARDS AND ASSOCIATES LIMITED, DAVID JONES LIMITED – ASX DJS, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, WITCHERY FASHIONS PTY LTD, MIMCO PTY LTD