Mining magnate and recent media baron Gina Rinehart arrived 45 minute late to the Ten Network AGM yesterday, blaming the Sydney traffic.
Greeted by what we assume was sarcastic clapping, her less than prompt appearance comes on top of her poor attendence of Ten board meetings. Proxy firm CGI Lewis Glass recently expressed concern about how Rinehart had attended just over one in two board meetings since she joined the Ten board.
Ten has asked its biggest shareholders – Lachlan Murdoch, James Packer, Bruce Gordon and Rinehart – to chip in on a capital raising. All apart from Rinehart have so far committed. If she doesn’t put up the cash by 4pm, her 10% shareholding will be diluted.