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  • Seven increases its stake in WAN

    July 25 2008 12:23am (UTC+8)  -  Article by Kevin

    IN BRIEF | The Seven Network has increased its investment in West Australian Newspaper Holdings Ltd, the publisher of The West Australian newspaper. Seven, the largest shareholder in WAN, has increased its holding to 22.3% - up 2.9% from its previous 19.4% holding.

    Seven boss Kerry Stokes failed to make corporate history in April when shareholders denied his attempt to dump the WAN board and gain two seats for himself and fellow director Peter Gammell.

    The network claimed it was seeking to "refresh the WAN Board to improve the performance of the company".

    WAN shares closed down 19c today to $9.11.

    Australian-Media.com.au

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  • Smacca
    July 25 2008
    12:33am
    #1 of 2

    Hehe, "plan B" underway I see...

  • Kevin
    July 25 2008
    4:28pm
    #2 of 2

    Smacca said:
    Hehe, "plan B" underway I see...

    I'm not completely up with how the market works, but I believe he can slowly increase his holding once every 6 months without having to pay a premium to buy the company. I could be wrong though.


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