WA News, ABC Learning, Incitec-Pivot, Fortescue and Allco


March 12, 2008

Dear Mayne Report readers and corporate governance watchers,

in today's edition we're all over the very tough decisions the incumbent directors of WA News are currently mulling over about the notice of meeting for the upcoming EGM to spill the board. I've been lobbying in all directions to head-off the old "no vacancy" rort.

We're also covering the outrageous attitude of the ABC Learning non-executive directors on the question of boardroom margin calls, plus celebrate the success of Incitec Pivot whilst lamenting the on-going presence of Centro chairman Brian Healey on its board.

We've also pumped $5000 into Allco Equity Partners to take advantage of its 64% discont to NTA - that's what you call a governance discount - and thankfully got out of jail on our St George exposure. Fortescue Metals booster Charlie Aitkin also cops a whack for his conflicts and poor calls on bank stocks.

Finally, listen to this hard-hitting interview with Lindy Burns on 774 ABC Melbourne last night and check out our increasingly popular Rich List which now features almost 700 names.

By clicking through to the full edition you'll also see an amusing Wild West graphic we've developed for the WA News proxy fight.

Do ya best, Stephen Mayne