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Fairfax investor backs Rinehart

MENAFN - - 6/13/2012 8:36:48 PM

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Fairfax investor backs Rinehart

Jun 13, 2012 (Menafn - The Australian - ABIX via COMTEX) --Fairfax Media shareholder Allan Gray Australia was relieved Fairfax's second-half 2011-12 profit downgrade of 8% was not worse. Allan Gray fund manager Simon Marais backed a call by John Klepec, chief development officer of Gina Rinehart's Hancock Prospecting, for Fairfax directors to increase their share holdings. Rinehart holds a 13% stake in Fairfax, with Allan Gray owning about 9%. Fairfax forecasts EBITDA of about A500m for 2011-12.

Publication Date: 14 June 2012

FAIRFAX MEDIA LIMITED - ASX FXJ
TRADE ME GROUP LIMITED - ASX TME
ALLAN GRAY AUSTRALIA PTY LTD
HANCOCK PROSPECTING PTY LTD
DEUTSCHE BANK AG

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