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44% OF FAIRFAX EMPLOYEES TAKE UP NEW SHARE OWNERSHIP PLANS Employees Commit $4.4 Million In First Year Of Program To Purchase Fairfax Shares SYDNEY, November 2, 1999 – John Fairfax Holdings Limited [ASX:FXJ] announced today that its employees have made an initial $4.4 million commitment to buy Fairfax shares through the Company’s new employee share ownership plans. Nearly 1,800 employees – or over 44% of those eligible – elected to join one of two employee share programs. "We welcome our employees as shareholders. This is a vote of confidence in the Company, and in our commitment as a team to work on behalf of increased shareholder value," said Fred Hilmer, Chief Executive Officer of Fairfax. As part of the programs, the Company’s Directors have also agreed that 25% of their Directors' fees will be committed to shares purchased under this program. For further information, please contact: Bruce Wolpe, Fairfax (02) 9282 3640
Note to editors John Fairfax Holdings [ASX:FXJ] is Australia’s leading publishing group. Its mastheads include The Sydney Morning Herald, The Australian Financial Review, The Age, The Sun-Herald, and BRW. In addition, the Company publishes financial and consumer magazines, and provides online and interactive services. In 1999, the Company had revenues of over $1.1 billion. Fairfax, through F2 Limited, its wholly owned subsidiary for its online and interactive businesses, is Australia’s leading content provider on the Internet, with more than 1.4 million page views, per day across a network of sites including news, business and finance, sport, auctions, real estate, employment, IT, career, and city guides and directories. |
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Fairfax > Corporate Affairs & Media Releases > Announcements > EMPLOYEE SHARE PLANS
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