Fairfax Chairman Nick Falloon buys stake in Nine

Company News

by Rachael Jones

Fairfax Media (ASX:FXJ) has released a report to the market to show that Fairfax Chairman Nick Falloon has acquired an interest in 200 thousand shares in Nine Entertainment Co. Holdings (ASX:NEC).

This purchase is since the release of the Company's Scheme Booklet in relation to a proposal from Nine Entertainment Co. Holdings (ASX:NEC) to acquire all Fairfax Shares from Fairfax shareholders.

Prior to this purchase Mr Falloon had no direct or indirect interest in NEC shares.

The 200,000 NEC shares were purchased on-market on 18 October 2018 by Avanteos Investments as custodian for the Falloon Family Super Fund of which Mr Falloon is a beneficiary.

Purchase price was $1.87 per share.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.