Business

Rinehart looks to Fairfax owners

GINA Rinehart's Hancock Prospecting has taken her criticisms of Fairfax Media directly to shareholders, calling for their support in her push for two board seats, and for directors to be allowed a choice of whether to agree to editorial independence.

In letters received by small shareholders yesterday, Hancock Prospecting's chief development officer, John Klepec, said the company - Fairfax's largest investor - was seeking support from fellow shareholders, ''That the Fairfax Media board governance principles are amended and adherence to union charter (referred to as ''editorial independence'') by choice, as it has been historically, to allow directors to act in the best interests of shareholders''.

Mr Klepec also called for shareholder support to set Fairfax Media chairman Roger Corbett performance targets - including lifting the share price back to 89 cents by November - and called for Fairfax to be ''refreshed to acquire the technological savvy to continue in today's technological age''.

Its fourth request was for Hancock to be given two board seats, ''as is common practice'' for shareholders with a ''circa 15 per cent stake''.

The letters follow the appointment to the board last month of Jack Cowin, suggested by Mrs Rinehart as an independent director.

Read more at Brisbanetimes.com.au
 

Topics:  fairfax, gina rinehart, shareholders, stock market




Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Warwick man's death "natural circumstances"

Emergency Services: Ambulance, QAS.

Man unable to be revived after collapsing at Warwick business

Widespread rain triggers mudslide on Granite Belt

WELCOME RAIN: Falls of up to 30mm were reported on Thursday night on the Granite Belt.

Region receives falls of 10 to 30mm

5 tips to boost your chances of winning the lotto in Warwick

Don't miss a chance to win a share in $22million.

WINNING the lotto isn't all about luck.

Latest deals and offers


She’ll be apples in Stanthorpe as festival kicks off

Jonathan Apple, festival president John Thouard, former Young Ambassadors Miriam Spina and Taylah Wantling and Isabella Grape welcomed the start of the 2016 Festival.

It’s a great start for the 10 days of festival ahead'

The best retro movies of the week? May 27 - June 3

Gregory Peck Photo Contributed

This week TV fan get to see Tom Cruise in a 1980s classics

Warwick High student named as hockey nationals umpire

Interview with Warwick High student Isaac Johnson who has been named as an umpire...

Start of Pentath-run wheelchair race in Warwick

Start of Wheelchair race at Pentath-run 1500

Warwick Hospital Get Up Petition

Deuchar resident Trevor Ives is heading up a GetUp petition against Federal Government cuts of as much as $62.8 million to funding at Warwick Hospital. Photo Jayden Brown / Warwick Daily News

Deuchar resident Trevor Ives talks about a GetUp petition calling for no cuts to...

Own Sunshine Coast property? You’re about to make money

UP AND UP: Property owners are likely to win from rent and price increases but tenants and first home buyers might not be so happy. Photo: Brett Wortman / Sunshine Coast Daily

Good new for property owners, not so good for buyers and tenants.

Sale nears on last large block of land in Coolum

The 43.37ha property on South Coolum Rd has sold.

South Coolum Rd property to be land banked