STOCKHOLDERS – 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

Bank bosses set for big pay days

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Original article by Vesna Poljak
The Australian Financial Review – Page: 15 & 20 : 10-Feb-15

The personal wealth of the CEOs of Australia’s four major banks has been boosted by the strong gains in the banks’ share prices. Commonwealth Bank CEO Ian Narev now holds some $A30m worth of shares in the bank, while the shares and options of ANZ Bank CEO Mike Smith are worth around $A61m based on the bank’s current share price. Wilson Asset Management’s Geoff Wilson says shareholders usually do not object to the high remuneration of CEOs provided investors also benefit from increased wealth

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WILSON ASSET MANAGEMENT, STANDARD AND POOR’S ASX 200 BANKS INDEX, RESERVE BANK OF AUSTRALIA

Foxtel, Discovery plot Ten strategy

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Original article by Dominic White, Jake Mitchell
The Australian Financial Review – Page: 29 : 9-Feb-15

Ten Network’s 14.9 per cent shareholder, Bruce Gordon, opposes a $A590m takeover bid by Foxtel and Discovery Communications. However, the bidders may consider a revised takeover strategy whereby they would acquire Ten’s main assets while Ten itself remains listed on the sharemarket. While Ten’s directors would have to approve any such deal, the bidders would only need the support of 51 per cent of Ten’s voting shareholders

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, FOXTEL MANAGEMENT PTY LTD, DISCOVERY COMMUNICATIONS INCORPORATED, LAZARD ASSET MANAGEMENT LIMITED, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS, CROWN RESORTS LIMITED – ASX CWN, FAIRFAX MEDIA LIMITED – ASX FXJ

oOh!Media IPO more of an oh-oh than a go-go

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Original article by Jared Lynch, Sally Rose
The Australian Financial Review – Page: 16 : 18-Dec-14

Shares in oOh!Media closed 1.6 per cent below the issue price of $A1.93 when the stock debuted on the Australian sharemarket on 17 December 2014. Shares in the outdoor advertising group listed at $A1.80, following a $A168.8m IPO by CHAMP Private Equity. The firm has retained a 32.2 per cent stake in oOh!Media, while WPP has an 8.6 per cent stake

CORPORATES
OOH!MEDIA LIMITED – ASX OML, CHAMP PRIVATE EQUITY PTY LTD, CASTLE HARLAN AUSTRALIAN MEZZANINE PARTNERS PTY LTD, WPP GROUP PLC, EYE CORP LIMITED, TEN NETWORK HOLDINGS LIMITED – ASX TEN

Top directors skip the scrip

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Original article by Misa Han
The Australian Financial Review – Page: 13 : 14-Nov-14

A survey by the Australian Council of Superannuation Investors shows that many directors of listed groups do not have equity in the company. One per cent of executive directors of companies in the ASX 100 do not directly hold shares, while 9.7 per cent of non-executive directors are not on the share register. Ian Curry of the Australian Shareholders’ Association says ownership of the company’s shares should be mandatory for all directors

CORPORATES
AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION, STANDARD AND POOR’S ASX 100 ACCUMULATION INDEX, STANDARD AND POOR’S ASX 200 INDEX, BHP BILLITON LIMITED – ASX BHP, RAMSAY HEALTH CARE LIMITED – ASX RHC, SONIC HEALTHCARE LIMITED – ASX SHL

Rinehart aide ‘set to take Ten seat’

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Original article by Darren Davidson
The Australian – Page: 21 : 21-Oct-14

The stock of Ten Network on 20 October 2014 closed $A0.02 higher at $A0.22, on news of merger talks by the free-to-air TV group with Fairfax Media. The Hancock Prospecting vehicle of mining heiress Gina Rinehart owns stakes of 14.99% and 10% in Fairfax and Ten respectively. Her seat on the board of the latter may soon be transferred to her chief development officer, John Klepec. Rinehart is believed to be positively disposed toward a merger deal, despite doubts about Fairfax’s management capabilities in the TV sector

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, FAIRFAX MEDIA LIMITED – ASX FXJ, HANCOCK PROSPECTING PTY LTD, ROY HILL HOLDINGS PTY LTD, CMC MARKETS PTY LTD

Rinehart in secret talks on Fairfax

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Original article by Sharri Markson
The Australian – Page: 19 : 10-Sep-14

A spokesman for mining magnate Gina Rinehart has downplayed speculation that she is planning to make a takeover bid for Fairfax Media. Rinehart’s Hancock Prospecting holds a 14.99 per cent stake in the media group, and it has been revealed that she held talks with Matt Handbury regarding a bid for Fairfax in 2012. Handbury sold Murdoch Magazines in 2004 and Murdoch Books in 2012

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, HANCOCK PROSPECTING PTY LTD, MURDOCH MAGAZINES PTY LTD, MURDOCH BOOKS PTY LTD, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, ALLEN AND UNWIN PTY LTD

Rinehart eyes Fairfax takeover

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Original article by Sharri Markson
The Australian – Page: 23 : 21-Jul-14

Australian mining heiress Gina Rinehart is a major stockholder in the struggling Fairfax Media newspaper publishing group. She owns 14.99% via her Hancock Prospecting business, but has been rebuffed in efforts to also gain a board position. Insiders claim that she may be contemplating a move to above 20% and possibly a complete takeover, in order to secure control over how the company is run. Newly installed directors would then remove current chair Roger Corbett and CEO Greg Hywood. Ex-Victorian premier Jeff Kennett says he has been asked by Rinehart whether he would serve on the board, but declined

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, HANCOCK PROSPECTING PTY LTD, DOMAIN.COM.AU, ALLAN GRAY AUSTRALIA PTY LTD, BEYOND BLUE LIMITED

Lew’s big win: DJs deal to go ahead

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Original article by Sue Mitchell
The Australian Financial Review – Page: 13 &20 : 18-Jul-14

Federal Court of Australia judge Kathleen Farrell on 17 July 2014 approved the takeover by South Africa’s Woolworths of department stores chain David Jones (DJs). Solomon Lew, a DJs stockholder with 9.9%, has struck a side deal with Woolworths, to accept the DJs bid if the suitor also buys his 11.8% in retailer Country Road to move to full ownership. Lew will gain $A212m. John Halley SC, on behalf of the Australian Securities & Investments Commission, told Farrell it was opposed to the collateral benefit aspect of the agreement, but would not block the takeover

CORPORATES
DAVID JONES LIMITED – ASX DJS, COUNTRY ROAD LIMITED – ASX CTY, WOOLWORTHS HOLDINGS LIMITED, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. TAKEOVERS PANEL

Air NZ ‘adamant’ Virgin stays listed

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Original article by Jamie Freed
The Australian Financial Review – Page: 13 & 18 : 14-Jul-14

Air New Zealand (NZ) is Virgin Australia’s largest shareholder, with a 25.99 per cent stake. The carrier, Singapore Airlines, Etihad Airways and Virgin Group have a combined stake of 79.4 per cent in Virgin Australia, but Air NZ CFO Rob McDonald has downplayed speculation that they could seek to privatise the airline. He stresses the importance of maintaining a sharemarket listing, while he has ruled out spinning off Air NZ’s frequent flyer program in the near-term

CORPORATES
VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, AIR NEW ZEALAND LIMITED – ASX AIZ, SINGAPORE AIRLINES LIMITED, ETIHAD AIRWAYS, VIRGIN GROUP LIMITED, QANTAS AIRWAYS LIMITED – ASX QAN, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, MOODY’S INVESTORS SERVICE INCORPORATED