STOCKHOLDERS – AUSTRALIA

Shareholders to vote on Foxtel

roymorgansocial Leave a comment

Original article by Jake Mitchell, Darren Davidson
The Australian – Page: 21 : 26-Nov-15

Ten Network’s shares closed at $A0.16 on 25 November 2015. However, Morgan Stanley has upgraded its share price target to $A0.29, describing the network as a "early stage turnaround story". Meanwhile, Foxtel has emerged with a 12.5 per cent stake in Ten following a rights issue. Some 50 per cent of Ten’s shareholders will have to approve the issuance of a further 56.8 million shares to the pay-TV group in order to lift its stake to 14.9 per cent.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS, MORGAN STANLEY AUSTRALIA LIMITED

Gordon expands media empire with Nine stake

roymorgansocial Leave a comment

Original article by Max Mason
The Australian Financial Review – Page: 13 & 18 : 21-Oct-15

US-based Apollo Global Management will reduce its stake in Nine Entertainment Company to nine per cent after agreeing to sell about 13 per cent of its holding to Bruce Gordon. The Bermuda-based businessman will pay around $A200m for the holding via his private company, Birketu. This will increase the WIN Corporation owner’s total stake in Nine to 14.95 per cent. Gordon also has a 14.95 per cent stake in Ten Network.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, WIN CORPORATION PTY LTD, BIRKETU PTY LTD, APOLLO GLOBAL MANAGEMENT LLC, TEN NETWORK HOLDINGS LIMITED – ASX TEN, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, PRIME MEDIA GROUP LIMITED – ASX PRT, SEVEN WEST MEDIA LIMITED – ASX SWM, NETFLIX INCORPORATED, FREE TV AUSTRALIA LIMITED, FAIRFAX MEDIA LIMITED – ASX FXJ, MACQUARIE GROUP LIMITED – ASX MQG, UBS HOLDINGS PTY LTD, KPMG AUSTRALIA PTY LTD, FOXTEL MANAGEMENT PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Re-think urged on share income tax

roymorgansocial Leave a comment

Original article by Joanna Mather
The Australian Financial Review – Page: 11 : 25-Sep-15

Australia’s dividend imputation system is under scrutiny in the wake of BHP Billiton’s proposal to use a payment from its Australian-listed company to fund a dividend payout for British shareholders. This would result in Australian shareholders losing some franking credits. Fidelity Australian Opportunities Fund portfolio manager Kate Howitt says the dividend imputation system should be retained, as shareholders in large companies often use their dividends to invest in smaller and more innovative businesses.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, FIDELITY AUSTRALIAN OPPORTUNITIES FUND, KPMG AUSTRALIA PTY LTD, CORPORATE TAX ASSOCIATION, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Echo chief on edge over delayed Genting decision

roymorgansocial Leave a comment

Original article by Perry Williams
The Australian Financial Review – Page: 17 : 1-Jun-15

The New South Wales Independent Liquor & Gaming Authority has yet to make a decision on an application by Malaysia-based Genting to lift its stake in Echo Entertainment Group. Genting has a 6.6 per cent stake in the casino operator, but it sought approval in 2012 to increase its stake to a maximum of 25 per cent. At present, shareholdings are limited to 10 per cent of Echo’s share register.

CORPORATES
ECHO ENTERTAINMENT GROUP LIMITED – ASX EGP, GENTING BERHAD, NEW SOUTH WALES. INDEPENDENT LIQUOR AND GAMING AUTHORITY, THE STAR, CROWN RESORTS LIMITED – ASX CWN, RESORTS WORLD BERHAD

Pokie king’s gamble on Mayne Pharma works

roymorgansocial Leave a comment

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

roymorgansocial Leave a comment

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

iiNet founder tries to kill $1.4b TPG bid

roymorgansocial Leave a comment

Original article by David Ramli
The Australian Financial Review – Page: 1 & 8 : 24-Mar-15

Investors who hold about 14 per cent of iiNet’s shares believe that the $A1.4bn takeover offer from TPG Telecom undervalues the group. The dissenters include iiNet founder Michael Malone, who holds about 2.5 per cent of the telco’s shares. He has criticised iiNet chairman Michael Smith for failing to consult with shareholders until 10 days after the bid was made, and says the majority of iiNet’s board should be ousted in favour technology entrepreneurs

CORPORATES
IINET LIMITED – ASX IIN, TPG TELECOM LIMITED – ASX TPM, BT INVESTMENT MANAGEMENT LIMITED – ASX BTT, SINGTEL OPTUS PTY LTD, SINGAPORE TELECOMMUNICATIONS LIMITED – ASX SGT

iiNet chairman to meet irate investors

roymorgansocial Leave a comment

Original article by Jemima Whyte, David Ramli
The Australian Financial Review – Page: 15 : 23-Mar-15

A number of iiNet shareholders have expressed concern that TPG Telecom’s $A1.4bn takeover offer undervalues the group. Australian-listed iiNet will hold meetings with shareholders in the next week, while chairman Michael Smith will discuss the proposed merger with investors on 23 March 2015. However, some investors – particularly those who hold shares in both groups – are in favour of the deal

CORPORATES
IINET LIMITED – ASX IIN, TPG TELECOM LIMITED – ASX TPM, BT INVESTMENT MANAGEMENT LIMITED – ASX BTT, M2 GROUP LIMITED – ASX MTU, SINGTEL OPTUS PTY LTD, AUSTRALIAN INSTITUTE OF COMPANY DIRECTORS, AZURE CAPITAL PARTNERS LP

Major iiNet shareholder labels TPG bid price ‘absurd’

roymorgansocial Leave a comment

Original article by David Ramli, Jemima Whyte
The Australian Financial Review – Page: 13 & 18 : 20-Mar-15

BT Investment Management’s Paul Hannan says the fund manager is disappointed that iiNet directors have not contacted major shareholders regarding TPG Telecom’s takeover offer. Hannan adds that the current offer gives iiNet shareholders little benefit from synergies arising from a merger. Andrew Abercrombie, who holds 500,000 shares in iiNet, has also criticised the telco’s lack of communication with investors in recent months

CORPORATES
IINET LIMITED – ASX IIN, TPG TELECOM LIMITED – ASX TPM, BT INVESTMENT MANAGEMENT LIMITED – ASX BTT, NBN CO LIMITED, INTERNODE SYSTEMS PTY LTD, AUSTRALIAN INSTITUTE OF COMPANY DIRECTORS, AZURE CAPITAL PARTNERS LP, SINGTEL OPTUS PTY LTD

Local investors get behind BHP demerger

roymorgansocial Leave a comment

Original article by Amanda Saunders
The Australian Financial Review – Page: 21 : 19-Mar-15

BHP Billiton will incur total costs of $US738m ($A966m) in demerging non-core assets into the South32 entity. Tim Schroeders of Pengana Capital says the costs are higher than anticipated, while Argo Investments’ Jason Beddow says investors are likely to seek information from BHP on the likely productivity gains arising from the demerger. Both fund managers say that as yet there are no compelling reasons to vote against the deal on 6 May 2015

CORPORATES
BHP BILLITON LIMITED – ASX BHP, SOUTH32 LIMITED, PENGANA CAPITAL LIMITED, ARGO INVESTMENTS LIMITED – ASX ARG, ABERDEEN ASSET MANAGEMENT LIMITED, BERNSTEIN AND ASSOCIATES, GLENCORE PLC, X2 RESOURCES PARTNERS LP, WARBURG PINCUS AND COMPANY