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# Sandon Capital

Activist Investment Firm

## Sitemaps

- [XML Sitemap](https://sandoncapital.com.au/sitemap.xml): Contains all public & indexable URLs for this website.

## Posts

- [Southern Cross Media chair quits after investor revolt following Seven West Media merger](https://sandoncapital.com.au/2026/05/04/https-www-theaustralian-com-au-subscribe-news-1-sourcecodetaweb_wre170_adesthttps://www-theaustralian-com-au/business/media/southern-cross-media-chair-quits-after-investor-revolt-fol/) - Source: The Australian By: Joseph Carbone [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Southern Cross Media executive chair Heith Mackay-Cruise has stepped down after less than three months in the role after the merger of Southern Cross Austereo and the Stokes family-controlled Seven West Media. Mr Mackay-Cruise was widely reported as being on the outside looking in at the
- [Kerry Stokes’ old board back in control of Seven owner as chair steps down](https://sandoncapital.com.au/2026/05/04/https-www-smh-com-au-business-companies-kerry-stokes-old-board-back-in-control-of-seven-owner-as-chair-steps-down-20260504-p5ztf1-htmlstokes-camp-flexes-its-muscle-at-southern-cross-chairman-resigns/) - Source: The Sydney Morning Herald By: Calum Jaspan and Colin Kruger [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] A director from Kerry Stokes’ old publishing empire Seven West Media will be the new chair of Southern Cross Austereo, the radio network that absorbed the media mogul’s former TV and publishing company in January. Heith Mackay-Cruise announced his
- [Stokes camp flexes its muscle at Southern Cross, chairman resigns](https://sandoncapital.com.au/2026/05/04/https-www-afr-com-companies-media-and-marketing-stokes-camp-flexes-its-muscle-at-southern-cross-chairman-resigns-20260504-p5ztf9/) - Source: The Financial Review By: Sam Buckingham-Jones [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Southern Cross Media chairman Heith Mackay-Cruise is resigning and handing over to a long-time ally of Kerry Stokes, as the businessman strengthens his grip over the radio and television empire. The billionaire Stokes family merged Network Seven owner Seven West into
- [Major Southern Cross Media investor pushes for chairman to be dumped](https://sandoncapital.com.au/2026/05/01/https-www-afr-com-companies-media-and-marketing-southern-cross-media-chair-directors-in-activist-investor-crosshairs-20260430-p5zso4/) - Source: The Financial Review By: Sam Buckingham-Jones [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] A major shareholder in Southern Cross Media has demanded the removal of the company’s chairman and two directors in a move that could pave the way for billionaire businessman Kerry Stokes’ former right-hand man, Bruce McWilliam, to take a seat on
- [The $180m reason why Kerry Stokes is selling Seven West](https://sandoncapital.com.au/2025/10/02/https-www-afr-com-companies-media-and-marketing-the-180-million-reason-why-kerry-stokes-is-selling-seven-west-20251002-p5mzik/) - Source: The Financial Review By: Sam Buckingham-Jones [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Southern Cross Media’s takeover of Kerry Stokes’ Seven West Media will net the media mogul hundreds of millions of dollars in losses that can be used as tax credits worth far more than his stake in the business itself. When Stokes
- [Like watching a pair of spotted hyenas casing a snuggle of tree sloths](https://sandoncapital.com.au/2025/10/03/https-www-afr-com-companies-media-and-marketing-like-watching-a-pair-of-spotted-hyenas-casing-a-snuggle-of-tree-sloths-20251002-p5mzoi/) - Source: The Financial Review By: Joe Aston [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] On Tuesday morning, Southern Cross Media announced that it was diluting its shareholders by 49.9 per cent and giving them no say in a predestined merger with Seven West Media. Chaos ensued. Six months have passed since the once-great James Hardie
- [Is media baron Kerry Stokes preparing his exit? It looks like a yes](https://sandoncapital.com.au/2025/09/30/https-www-smh-com-au-business-companies-is-media-baron-kerry-stokes-preparing-his-exit-it-looks-like-a-yes-20250930-p5myy2-html/) - Source: SMH By: Elizabeth Knight [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] God forbid anyone would admit it, but the first major step towards Kerry Stokes’ family empire exiting media was set in train on Tuesday with a plan to merge his Seven West Media with Southern Cross Media, which owns radio assets including the Triple
- [Southern Cross chair says ‘strong support’ for Seven deal amid fallout](https://sandoncapital.com.au/2025/10/01/https-www-afr-com-companies-media-and-marketing-southern-cross-chair-says-strong-support-for-seven-deal-amid-fallout-20251001-p5mzc9/) - Source: The Financial Review By: Sam Buckingham-Jones [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] The chairman of radio business Southern Cross Media insists a merger with Kerry Stokes’ Seven West Media has strong support from most of his major shareholders, after spending the past 24 hours lobbying investors for support and thwarting a bid to
- [Kerry Stokes to depart Seven after merger with Triple M owner](https://sandoncapital.com.au/2025/09/30/https-www-smh-com-au-business-companies-kerry-stokes-seven-plots-merger-with-triple-m-owner-20250930-p5myvv-html/) - Source: SMH By: Calum Jaspan [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Kerry Stokes’ Seven West Media plans to merge with Australia’s biggest radio company, Southern Cross Media, in a deal that would create a $415 million television, radio and publishing group, before the billionaire exits the media business he created. The tie-up, a complex
- [Seven deal chucks a James Hardie. ASX review can’t come fast enough](https://sandoncapital.com.au/2025/10/01/https-www-afr-com-chanticleer-seven-deal-chucks-a-james-hardie-asx-review-can-t-come-fast-enough-20250930-p5mz39/) - Source: The Financial Review By: Anthony Macdonald [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] This burning issue comes down to trust, and a complete breakdown of it between boards and some of their biggest shareholders. It’s no good for anyone. While the ASX faffs around with its listing rules review, cheeky companies and their lawyers and
- [Blue murder! Stokes’ canny Seven West merger and deadline dash](https://sandoncapital.com.au/2025/09/30/https-www-afr-com-chanticleer-blue-murder-stokes-canny-seven-west-merger-and-deadline-dash-20250930-p5myyx/) - Source: The Financial Review By: Anthony Macdonald [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] The pieces of Australia’s media puzzle are moving around, and one man is at the centre of it. The businessman’s probable final move in Australian public markets is typically shrewd, strategically astute, carefully (or even cynically) structured and well-timed. It has
- [ASX accused of being out of step with international listing rules](https://sandoncapital.com.au/2025/10/01/https-www-afr-com-companies-financial-services-asx-accused-of-being-out-of-step-with-international-listing-rules-20251001-p5mzab/) - Source: The Financial Review By: Joyce Moullakis and Sam Buckingham-Jones [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Seven West Media’s proposed $420 million tie-up with Southern Cross has sparked accusations the ASX’s listing rules are out of step with those in major international markets as the corporate regulator takes an increased interest in the exchange’s
- [Why this fundie doesn't mind a bruising fight to boost returns](https://sandoncapital.com.au/2025/05/19/https-www-afr-com-markets-equity-markets-why-this-fundie-doesn-t-mind-a-bruising-fight-to-boost-returns-20250513-p5lyon/) - Source: Financial Review By: Gus McCubbing [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Sandon Capital founder Gabriel Radzyminski is in the throes of hand-to-hand combat with the board of Southern Cross Austereo. As an activist investor, Radzyminski has made a living by buying into companies that he believes can be improved using shareholder rights to
- [Activist Sandon says Magellan redemption fears ‘overblown’](https://sandoncapital.com.au/2025/02/04/https-www-afr-com-markets-equity-markets-activist-sandon-says-magellan-redemption-fears-overblown-20250204-p5l9ec/) - Source: Financial Review By: Joanne Tran [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Activist investor Sandon Capital has sought to counter concerns about more client money leaving Magellan since the departure of its veteran infrastructure portfolio manager Gerald Stack was made public last week. Magellan shares fell 23.5 per cent in the three days since
- [Calls for national strategy as babies and cancer patients struggle with drug shortage](https://sandoncapital.com.au/2024/08/13/calls-for-national-strategy-as-babies-and-cancer-patients-struggle-with-drug-shortage/) - Source: TheAustralian By: Tansy Harcourt [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Pediatrician Antonia Milner has resorted to crushing up Azithromycin tablets for tiny babies who would normally receive liquid antibiotics. Parents of children who take long-acting medication for ADHD are being told by their pharmacists to come back the following week in the hope
- ['Havoc' for patients as hundreds of medicines in short supply](https://sandoncapital.com.au/2024/05/26/https-www-smh-com-au-healthcare-havoc-for-patients-as-hundreds-of-medicines-in-short-supply-20240523-p5jfzt-html/) - Source: The Sun Herald By: Mary Ward and Amber Schultz [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Hundreds of key medicines are in short supply in Australia as experts warn the problem is putting lives and livelihoods at risk. The Therapeutic Goods Administration (TGA) lists more than 420 medicines as being in shortage, 20 of
- [Medicine shortages that affect our most vulnerable are unacceptable](https://sandoncapital.com.au/2024/05/26/https-www-smh-com-au-national-nsw-medicine-shortages-that-affect-our-most-vulnerable-are-unacceptable-20240525-p5jgkt-html/) - Source: The Sun Herald Opinion [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] A generation of women shied away from using treatments to ease the symptoms of menopause after a 2002 study linked hormone replacement therapy (HRT) with an increased risk of medical conditions such as stroke and breast cancer. The hesitance to use HRT to
- [The march of passive investors and high price of money: Why activists are having their way](https://sandoncapital.com.au/2024/05/24/https-www-theaustralian-com-au-business-companies-the-march-of-passive-investors-and-high-price-of-money-why-activists-are-having-their-way-news-story-812a9f14e294f6069fedde4fe8c425c8/) - Source: The Australian By: Tansy Harcourt [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Delivered like a guillotine to the neck. The board of Lendlease and Karoon Energy found out the hard way this week that they had ignored activist investors at their peril. Autobarn owner Bapcor might be just about to learn the same lesson.
- [Chairman Peter Botten faces shareholder revolt at Karoon Energy AGM](https://sandoncapital.com.au/2024/05/23/https-www-theaustralian-com-au-business-mining-energy-chairman-peter-botten-faces-shareholder-revolt-at-karoon-energy-agm-news-story-547da021c4e206908f6ddee17b02c3da/) - Source: The Australian By: Tansy Harcourt [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Karoon Energy has suffered a first strike at its annual general meeting - with more than 26 per cent of shareholders voting against its remuneration report, amid growing anger that the company has put growth through acquisitions ahead of returning capital to
- [Karoon Energy suffers 'first strike' as activists land a blow](https://sandoncapital.com.au/2024/05/23/https-www-afr-com-street-talk-karoon-energy-suffers-first-strike-as-activists-land-a-blow-20240523-p5jg0p/) - Source: The Financial Review By: Sarah Thompson, Kanika Sood and Emma Rapaport [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Activist shareholders have inflicted a hit on Karoon Energy’s board as investors voted down the oil and gas producer’s remuneration report at the company’s annual general meeting in Melbourne on Thursday. Street Talk first reported that
- [Time for dividends, says Karoon Energy founder as investor anger mounts](https://sandoncapital.com.au/2024/05/16/time-for-dividends-says-karoon-energy-founder-as-investor-anger-mounts/) - Source: The Australian By: Tansy Harcourt [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Karoon Energy founder Bob Hosking said it’s time for the under-fire oil and gas company to start paying shareholders a dividend. After two decades on the ASX but under the radar of most investors, Karoon has shifted from explorer to a producer
- [Karoon CEO targeting 50,000 barrels of oil per day as well as capital returns](https://sandoncapital.com.au/2024/05/14/https-www-theaustralian-com-au-subscribe-news-1-sourcecodetaweb_wre170_a_bindesthttps-www-theaustralian-com-au-business-mining-energy-karoon-ceo-targeting-50000-barrels-of-oil-per/) - Source: The Australian By: Tansy Harcourt [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Karoon Energy chief executive Julian Fowles says the company is targeting 50,000 barrels of oil per day over the next three years, and he is “completely aligned” with chairman Peter Botten as the embattled oil and gas company tries to quell investor
- [Karoon CEO schmoozes investors, but activists aren’t backing down](https://sandoncapital.com.au/2024/05/12/https-www-afr-com-street-talk-karoon-ceo-schmoozes-investors-but-activists-aren-t-backing-down-20240503-p5fosq/) - Source: Financial Review By: Sarah Thompson, Kanika Sood and Emma Rapaport [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Karoon Energy chief executive Julian Fowles is a busy man. Fresh off Karoon’s United States roadshow, Fowles made a surprise appearance at the Macquarie Australia Conference on Thursday before jumping on a sell-side analyst call on Friday to field questions
- [Karoon Energy misses the mark with activist investors over acquisitions, dividends](https://sandoncapital.com.au/2024/05/09/https-www-theaustralian-com-au-subscribe-news-1-sourcecodetaweb_wre170_a_bindesthttps-www-theaustralian-com-au-business-mining-energy-karoon-energy-misses-the-mark-with-activist-in/) - Source: The Australian By: Tansy Harcourt [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Oil and gas company Karoon Energy has sought to ease shareholder concerns about poor capital management, announcing it was “not even close” to buying another asset before admitting a purchase could come by year’s end. “We are not on the cusp of
- [Activists Samuel Terry, Sandon lawyer up for Karoon Energy fight](https://sandoncapital.com.au/2024/04/30/https-www-afr-com-street-talk-activists-samuel-terry-sandon-lawyer-up-for-karoon-energy-fight-20240430-p5fnqx/) - Source: Financial Review By: Sarah Thompson, Kanika Sood and Emma Rapaport [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Samuel Terry Asset Management and Sandon Capital are ready to rumble at Karoon Energy. The activist firms, which have teamed up to push for an overhaul of the $1.5 billion oil and gas producer’s board, have lawyers at the
- [Karoon Energy under pressure to increase payout](https://sandoncapital.com.au/2024/05/05/https-www-theaustralian-com-au-business-dataroom-karoon-energy-under-pressure-to-increase-payout-news-story-272ae5f9b58f2dd839844e93f00336d1/) - Source: The Australian By: Bridget Carter [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Macquarie analysts believe the Peter Botten-chaired Karoon Energy will likely put forward a payout ratio of about 30 per cent of its net profit on the back of shareholder activism, which could support a rerating of the stock. Samuel Terry Asset Management
- [Activist funds to push Karoon Energy on dividends](https://sandoncapital.com.au/2024/04/30/https-www-afr-com-companies-energy-activist-funds-to-push-karoon-energy-on-dividends-20240430-p5fnn3/) - Source: Financial Review By: Jonathan Shapiro [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Activist fund managers Samuel Terry and Sandon Capital have teamed up to push for an overhaul of the board of $1.5 billion oil and gas producer Karoon Energy. The investment firms disclosed on Tuesday they had created “a limited association with respect
- [Karoon chairman in activists’ firing line over pay](https://sandoncapital.com.au/2024/05/01/karoon-chairman-in-activists-firing-line-over-pay/) - Source: Financial Review By: Jonathan Shapiro [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Activist target Karoon Energy has been accused of sustaining an inappropriate and “flawed” executive pay scheme, compelling shareholder Sandon Capital to vote against its remuneration report at Karoon’s upcoming annual meeting. Sandon wrote to chairman Peter Botten on Wednesday arguing that Karoon’s
- [Independence isn’t the power the ‘directorati’ would have us believe](https://sandoncapital.com.au/2024/03/19/https-www-afr-com-work-and-careers-management-independence-isn-t-the-power-the-directorati-would-have-us-believe-20240318-p5fd5gorporate-status-quo-for-investors-benefit/) - Source: Financial Review By: Gabriel Radzyminski [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] The upper echelons of corporate Australia are drawing their battle lines against the notion that shareholders might nominate directors. Esteemed National Australia Bank chairman Phil Chronican has weighed in, citing conflicts of interest should super funds nominate directors to the boards of the companies in
- [Singapore giant in $182m buyout of 13cabs operator A2B](https://sandoncapital.com.au/2023/12/22/https-www-afr-com-companies-transport-singapore-giant-in-182m-buyout-of-13cabs-operator-a2b-20231222-p5etai-ceo-2/) - Source: Financial Review By: Simon Evans [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Singapore’s ComfortDelGro has made a $182 million buyout offer for A2B Australia, the operator of 13cabs, Silver Service and Cabcharge. Sandon Capital, one of the company’s major investors, endorsed the bid as a “good deal” at the end of a turnaround of
- [Activist Investing: Changing the corporate status quo for investors’ benefit](https://sandoncapital.com.au/2023/12/06/activist-investing-changing-the-corporate-status-quo-for-investors-benefit-chris-conway-livewire-livewiremarkets-com/) - Source: Livewire By: Chris Conway [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Activist Investing: Changing the corporate status quo for investors’ benefit Activism isn’t new in Australia but it is gaining prominence – and the performance returns will make investors sit up and take notice. Activist investing has gained traction in Australia for several reasons,
- [Sandon Capital’s 2023 AGM Season Recap](https://sandoncapital.com.au/2023/12/06/sandon-capitals-2023-agm-season-recap/) - Source: Sandon Capital By: Sandon Capital [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Sandon Capital’s 2023 AGM Season Recap The end of November marks the end of AGM season for companies with a 30 June balance date. For the Sandon Capital portfolio, AGM season has been positive. AGMs are often eschewed by professional investors, potentially
- [Magellan vulnerable to takeover as board hit with first strike](https://sandoncapital.com.au/2023/11/08/https-www-afr-com-companies-financial-services-magellan-vulnerable-to-take-over-as-board-hit-with-first-strike-20231108-p5eifb/) - Source: Financial Review By: Jonathan Shapiro [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Magellan Financial shareholders have registered a large protest vote against the fund manager’s board, with the company’s new chairman, Andrew Formica, urging investors to focus on the company’s strong balance sheet and its plans for the future. Mr Formica said he had
- [Sandon seeking to dump John Eales from Magellan Financial Board over remuneration furore](https://sandoncapital.com.au/2023/10/17/https-www-theaustralian-com-au-business-financial-services-sandon-seeking-to-dump-john-eales-from-magellan-financial-board-over-remuneration-furore-news-story-b1323338aa144ebc32583abb8b64dd62/) - Source: The Australian By: Chris Herde [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] There is a push for former Wallabies Capital John Eales to be dumped as a non-executive director of embattled global funds giant Magellan Financial Group with activist investor Sandon Capital saying it would vote against his re-election. The ASX-listed company’s Annual General
- [Magellan activist to vote against John Eales as director](https://sandoncapital.com.au/2023/10/17/https-www-afr-com-companies-financial-services-magellan-activist-to-vote-against-john-eales-as-director-20231017-p5ecxi/) - Source: Financial Review By: James Thomson [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Activist investor Sandon Capital says it will vote against the re-election of Magellan Financial Group director and former rugby union legend John Eales at the fund manager’s annual general meeting, citing the group’s pay policies. Sandon, which launched an activist campaign against Magellan
- [Top fund managers share 11 stock picks for the long term](https://sandoncapital.com.au/2023/09/15/https-www-afr-com-chanticleer-top-fund-managers-share-11-stock-picks-for-the-long-term-20230915-p5e4xw/) - Source: Financial Review [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] After a dramatic earnings season, fund managers are looking for long-term growth in a tricky environment. Here are some of their top picks. If last month’s earnings season felt dramatic, that’s because it was; Goldman Sachs says one out of every eight stocks moved
- [Magellan management reshuffle and special dividend](https://sandoncapital.com.au/2023/08/18/https-www-theaustralian-com-au-business-financial-services-magellan-management-reshuffle-and-special-dividend-news-story-f0b1fb455ec5ac13e20eb3a9903062d4/) - Source: The Australian By: Tansy Harcourt [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Magellan Financial Group has revealed a surprise reshuffle including a new head of investments and a new chairman, after posting a worse-than-expected 52 per cent drop in full year profit to $182.7m on the back of continued fund outflows. Shares in Magellan
- [Magellan pledges special dividend, floats M&A potential](https://sandoncapital.com.au/2023/08/18/https-www-afr-com-markets-equity-markets-magellan-pledges-special-dividend-new-chairman-flags-m-and-a-potential-20230817-p5dxap/) - Source: Financial Review By: Tom Richardson and Lucy Dean [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Magellan shares surged the most in five years after the fund manager promised to tackle costs and declared a special dividend of 30¢ a share, in a show of balance sheet strength aimed at winning back the confidence of
- [Magellan should return capital to win back investors: Sandon](https://sandoncapital.com.au/2023/06/27/magellan-should-return-capital-to-win-back-investors-sandon/) - Source: Financial Review By: James Thomson [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Activist investor Sandon Capital says Magellan should abandon its plan to rebuild funds under management to $100 billion, and instead focus on returning at least $300 million to shareholders as part of a broader push to restore investor faith. Sandon argues that
- [Activist’s prescription for Magellan goes back to the future](https://sandoncapital.com.au/2023/06/27/asx-mfg-activists-prescription-for-magellan-financial-group-is-a-back-to-the-future-approach-afr-com/) - Source: Financial Review By: James Thomson [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Sandon Capital says its push to restore value at Magellan is based on a return to the things that made the fund manager great. In many ways, Sandon Capital’s activist campaign against Magellan Financial Group is built around restoring the thinking that turned Magellan
- [Magellan fails to arrest outflows with outperformance](https://sandoncapital.com.au/2023/07/06/https-www-afr-com-markets-equity-markets-magellan-fails-to-arrest-outflows-with-outperformance-20230706-p5dm6p/) - Source: Financial Review By: Vesna Poljak [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Activist shareholder Sandon Capital argued further outflows from Magellan last month underline the need to recalibrate the business for managing a smaller pool of capital, one of the key planks of its campaign to unlock value. Investors withdrew $2.1 billion from Magellan’s funds
- [Magellan continues to bleed funds despite improving performance](https://sandoncapital.com.au/2023/07/06/https-www-smh-com-au-business-companies-magellan-continues-to-bleed-funds-despite-improving-performance-20230706-p5dm8n-html/) - Source: Sydney Morning Herald By: Millie Muroi [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Former high-flying fund manager Magellan suffered another $2.1 billion in outflows last month, capping off another tough year for the business as it struggles to regain investors’ confidence. The latest outflow takes the total decline in Magellan’s funds under management over
- [‘Forceful tactics’ underpin bigger role in activist-fuelled M&A](https://sandoncapital.com.au/2023/02/13/forceful-tactics-underpin-bigger-role-in-activist-fuelled-ma/) - Source: Financial Review By: Aaron Weinman [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Australian boards are weighing “forceful” and “aggressive” tactics to unlock greater value in merger and acquisition conversations as companies face heightened pressure from activist shareholders. Activists like Grok Ventures’ Mike Cannon-Brookes have leveraged, and corralled, support from an influx of retail and institutional
- [Fundies bemoan lack of clarity on renewables](https://sandoncapital.com.au/2022/05/27/https-www-afr-com-markets-equity-markets-fundies-bemoan-lack-of-clarity-on-renewables-20220527-p5ap4q/) - Source: Financial Review By: Ben Harvey [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Ambitious targets to switch the Australian economy away from fossil fuels lack clarity, thwarting support from business and investors that could delay the energy transition, according to one of Wilson Asset Management’s top portfolio managers. Last week’s federal election swept to power
- [Billionaire’s AGL Win Jolts Australia Awake to Climate Activism](https://sandoncapital.com.au/2022/05/30/https-blinks-bloomberg-com-news-stories-rco94pt0afb5/) - Source: Bloomberg News By: Harry Brumpton [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] An Australian billionaire’s success in forcing AGL Ltd. to scrap a breakup plan and its top executives to step down may shake the status quo between shareholders and companies in the region, particularly on climate issues. Atlassian Corp. founder Mike Cannon-Brookes halted
- [13Cabs operator A2B pushes out CEO](https://sandoncapital.com.au/2022/02/08/13cabs-operator-a2b-pushes-out-ceo/) - Source: Financial Review By: Simon Evans [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] The incoming chairman of ASX-listed A2B, which operates the 13Cabs taxi network, has launched a strategic review of operations and said long-serving CEO Andrew Skelton will leave the company after seven years. New chairman David Grant, appointed one day ago, said he will assume
- [Proxy advice shake-up’s real target is shareholder social activism](https://sandoncapital.com.au/2022/02/07/proxy-advice-shake-ups-real-target-is-shareholder-social-activism-2/) - Source: Financial Review By: Gabriel Radzyminski [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Whether we realise it or not, most Australians have an interest in the ability of shareholders to hold the directors of the companies we own to account. For most of us, this is through our superannuation or pension products. In short, we
- [Taxi group in turmoil as CEO follows chair out the door over land swap deal](https://sandoncapital.com.au/2022/02/08/taxi-group-in-turmoil-as-ceo-follows-chair-out-the-door-over-land-swap-deal-2/) - Source: Sydney Morning Herald By: Anne Hyland [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Turmoil has engulfed the board of national taxi group, A2B, with its chairman and chief executive quitting in the same week, following a shareholder backlash over a controversial property deal with a wealthy Sydney family. Andrew Skelton, chief executive of A2B,
- [Taxi chair quits after revolt over land swap deal with wealthy Sydney family](https://sandoncapital.com.au/2022/02/07/taxi-chair-quits-after-revolt-over-land-swap-deal-with-wealthy-sydney-family/) - Source: Sydney Morning Herald By: Anne Hyland [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] The chairman of listed taxi group A2B, which operates nationally with brands such as 13cabs and Silver Service, has announced his retirement, following a shareholder revolt over a controversial property deal that involved one of Sydney’s wealthiest families. A2B chair Paul
- [Wealthy Sydney family caught in middle of fight over controversial land swap deal](https://sandoncapital.com.au/2022/01/31/wealthy-sydney-family-caught-in-middle-of-fight-over-controversial-land-swap-deal/) - Source: Sydney Morning Herald By: Anne Hyland [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] A2B, the listed taxi group, which operates nationally with brands such as 13cabs and Silver Service, is facing a shareholder revolt over a planned property deal, and caught in the middle is one of Sydney’s wealthiest families. For three decades, the
- [Shareholder activists highlight online-only AGM loophole for IPOs](https://sandoncapital.com.au/2021/10/21/shareholder-activists-highlight-online-only-agm-loophole-for-ipos/) - Source: Financial Review By: John Kehoe [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Investors are warning the federal government’s move to allow online-only annual shareholder meetings will be exploited by new companies floating on the stock market, which may never have to face shareholders in person. Treasurer Josh Frydenberg this week unveiled legislation to permanently extend
- [Stokes outfoxes the Boral board](https://sandoncapital.com.au/2021/07/07/stokes-outfoxes-the-boral-board/) - Source: Financial Review. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Control of Boral is changing hands without a decent premium thanks to a masterful strategic play by Kerry Stokes, who was up against a board with poor defences. West Australian billionaire Kerry Stokes is in the middle of pulling off the “bargain of the decade”
- [What we learnt: IOOF, Link, a2 Milk, Sandon Capital](https://sandoncapital.com.au/2021/08/26/what-we-learnt-ioof-link-a2-milk-sandon-capital/) - Source: Financial Review [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Sandon’s banner year a story of patience You’ve gotta love it when a plan comes together – and it’s even better when several plans come together at once, as activist value investor Sandon Capital found this year. Its listed investment company delivered a return of
- [Geoff Wilson ‘appalled’ by shift to virtual AGMs](https://sandoncapital.com.au/2021/11/10/geoff-wilson-appalled-by-shift-to-virtual-agms/) - Source: Financial Review [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Geoff Wilson and Merlon Capital are deeply unimpressed by attempts by some companies to change their constitution to allow virtual-only AGMs. Geoff Wilson is furious. For the second year running, the founder of the Wilson Asset Management finds himself fighting against the prospect of virtual annual
- [A2B unveils property deal ahead of AGM showdown](https://sandoncapital.com.au/2021/11/17/a2b-unveils-property-deal-ahead-of-agm-showdown/) - Source: Financial Review [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] A2B will swap a $57 million property for a $135 million property. But will be it enough to prevent two big shareholders voting against chairman Paul Oneile. A2B, formerly known as Cabcharge, will face off with frustrated investors at Thursday’s annual general meeting from a stronger position
- [Investors Mutual, Sandon Capital to target A2B chairman at AGM](https://sandoncapital.com.au/2021/11/17/investors-mutual-sandon-capital-to-target-a2b-chairman-at-agm/) - Source: Financial Review [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Two of the biggest investors in A2B, formerly known as Cabcharge, will vote against the re-election of Paul Oneile as chairman. A2B, formerly known as Cabcharge, is facing a shareholder revolt in which two of its biggest investors will vote against the re-election of chairman Paul
- [Fleetwood board under pressure from activist fund](https://sandoncapital.com.au/2018/05/18/fleetwood-board-under-pressure-from-activist-fund/) - Source: The West Australian. By: Ben Harvey. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Speculation was mounting last night that activist investment fund Sandon Capital was the substantial shareholder behind a push for an extraordinary meeting of Fleetwood. Fleetwood yesterday issued a statement advising shareholders that it believed a call for the meeting was imminent.
- [Shareholder activism in Australia](https://sandoncapital.com.au/2013/03/20/shareholder-activism-in-australia/) - Source: First Links. By: Gabriel Radzyminski. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] An old investing adage states, “more money has been lost through corporate mismanagement than at the point of a gun.” By simply running their finger down a list of history’s biggest (or smallest) corporate disasters and missteps, an investor can quickly spot
- [Radzyminski leads raid to topple Coventry directors](https://sandoncapital.com.au/2014/06/20/radzyminski-leads-raid-to-topple-coventry-directors/) - Source: The Australian Financial Review. By: Sally Rose. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Activist investor Gabriel Radzyminski is leading a share raid on Coventry Group, the $106 million Western Australia mining supplies company, in a move designed to roll the board. Coventry is a $105.9 million Western Australian company that services and supplies parts,
- [Radzyminski wins war against Coventry chair](https://sandoncapital.com.au/2014/11/19/radzyminski-wins-war-against-coventry-chair/) - Source: The Australian Financial Review. By: Sarah Thompson, Anthony Macdonald and Jake Mitchell. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Activist investor Gabriel Radzyminski ’s six-month campaign to dethrone Roger Flynn as executive chairman of Coventry Group has met success. Coventry Group announced to the ASX on Wednesday that Flynn will hand over chairmanship of
- [Sandon Capital seeks to turf out biotech Alchemia founder Tracie Ramsdale and chairman Tim Hughes](https://sandoncapital.com.au/2015/06/18/sandon-capital-seeks-to-turf-out-biotech-alchemia-founder-tracie-ramsdale-and-chairman-tim-hughes/) - Source: The Australian Financial Review. By: Liam Walsh. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] THE founding scientist of Brisbane drug developer Alchemia is facing the threat of getting dumped from her own company. An activist fund manager, Sandon Capital, on Thursday launched an attempt to dump founder Tracie Ramsdale and chairman Tim Hughes from
- [Why This Activist Investor Is Buying Fleetwood](https://sandoncapital.com.au/2016/07/20/https-sandoncapital-thecreativemill-digital-wp-content-uploads-2021-11-160720_barronsasia_fwd_article-pdf/) - Source: Barron's Asia. By: Daniel Shane. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Shares in Australia’s Fleetwood Corporation ( FWD.AU ) have looked feeble since the Lucky Country’s commodities boom entered retirement. The maker of ‘dongas,’ or pop-up accommodation for remote mining sites, has seen its share price plunge from over AUD13 in mid-2012 to as low
- [Iluka resources soars after activist urges de-merger of iron ore assets](https://sandoncapital.com.au/2016/12/05/16872/) - Source: Barron's. By: Shuli Ren. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Iluka Resources (ILU.Australia), a major producer of zircon and high-grade titanium dioxide products, soared 3.3% in Sydney today after activist investor Sandon Capital said the company should spin off its iron ore assets. In Sandon's view, Iluka's iron ore royalty over BHP Billiton's (BHP) Mining Area is
- [Why Iluka Resources' lucrative iron ore royalty is back in the spotlight](https://sandoncapital.com.au/2016/12/19/why-iluka-resources-lucrative-iron-ore-royalty-is-back-in-the-spotlight/) - Source: The Australian Financial Review. By: Tess Ingram. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] For more than a decade, Iluka Resources has been assembling a very large file on the opportunities that surround a royalty it gets from a BHP Billiton iron ore project. The file has expanded over that time as, at various
- [BHP Billiton's pursuit of South Flank a big win for Iluka Resources](https://sandoncapital.com.au/2017/04/05/bhp-billitons-pursuit-of-south-flank-a-big-win-for-iluka-resources/) - Source: The Australian Financial Review. By: Tess Ingram. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] The lucrative royalty Iluka Resources earns from BHP Billiton's iron ore tenements could double in value if BHP locks in the South Flank deposit as its solution for iron ore production replacement in the Pilbara, according to analysts. Shares in
- [Shareholders say no: Besix takeover of Watpac voted down](https://sandoncapital.com.au/2018/01/07/shareholders-say-no-besix-takeover-of-watpac-voted-down/) - Source: The Australian Financial Review. By: Larry Schlesinger. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Activist investor Sandon Capital will agitate for boardroom changes at Watpac, after Belgian construction giant Besix failed in its bid to secure two-thirds ownership of the ASX-listed contractor and mining services group. At a meeting in Brisbane on Thursday, only
- [Activist investor turns its attention to Specialty Fashion Group](https://sandoncapital.com.au/2018/02/28/activist-investor-turns-its-attention-to-specialty-fashion-group/) - Source: The Australian Financial Review By: Sarah Thompson, Anthony Macdonald & Joyce Moullakis. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Activist investor Sandon Capital is calling on the directors of embattled retailer Specialty Fashion to rethink their strategy and consider an equity raising to salvage the company's balance sheet. Street Talk can reveal Sandon managing
- [Activist fight over Specialty Fashion looms as test for board and investor](https://sandoncapital.com.au/2018/03/01/activist-fight-over-specialty-fashion-looms-as-test-for-board-and-investor/) - Source: The Australian Financial Review. By: Chanticleer. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] It might seem incongruous that anyone could get too exercised about the fate of perennially struggling fashion group Specialty Fashion. In a sector full of companies clinging to life, Specialty has at times looked like a candidate for the scrap heap;
- [Another Specialty Fashion investor backs equity raising after knocking back offer](https://sandoncapital.com.au/2018/03/01/another-specialty-fashion-investor-backs-equity-raising-after-knocking-back-offer/) - Source: The Australian Financial Review. By: Sue Mitchell. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Specialty Fashion Group's largest institutional shareholder, Lazard Asset Management, is backing calls for an equity raising rather than a fire sale after knocking back an offer for its 13 per cent stake from a potential bidder. It is understood that
- [Watpac-BESIX deal not good value for shareholders: Sandon](https://sandoncapital.com.au/2018/03/26/watpac-besix-deal-not-good-value-for-shareholders-sandon/) - Source: The Australian Financial Review. By: Larry Schlesinger. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Belgium construction giant BESIX's proposals to take majority control of ASX-listed Watpac is facing opposition, with activist investor Sandon Capital warning the deal does not represent good value to existing shareholders. A month ago, BESIX struck a deal with the Watpac
- ['Investors in dark' over bid to carve up Katies, Rivers owner](https://sandoncapital.com.au/2018/04/03/investors-in-dark-over-bid-to-carve-up-katies-rivers-owner/) - Source: The Sydney Morning Herald. By: Patrick Hatch. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Private equity giant Anchorage Capital Partners has lobbed a $100 million bid to carve up troubled retailer Specialty Fashion Group, but one investor says shareholders have no way of knowing if it is a good deal or not. The company behind the
- [How Specialty Fashion won a plus-size market boost](https://sandoncapital.com.au/2018/05/14/how-specialty-fashion-won-a-plus-size-market-boost/) - Source: The Australian Financial Review. By: Chanticleer. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] For a while there it seemed like anyone who mentioned Speciality Fashion Group was legally required to use the word "struggling" before its name. But after Monday's deal, which will see the group sell most of itself to fellow women's fashion retailer
- [Specialty Fashion shares surge 46pc on Noni B deal](https://sandoncapital.com.au/2018/05/14/specialty-fashion-shares-surge-46pc-on-noni-b-deal/) - Source: The Australian Financial Review. By: Sue Mitchell. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] After coming close to collapse in 2014, Noni B is set to become Australia's largest women's wear retailer after outlaying $31 million for Specialty Fashion Group's loss-making Millers, Katies, Crossroads, Autograph and Rivers brands. The deal, revealed by Street Talk on
- [Knife edge vote: Besix to sell out entirely from Watpac if takeover fails](https://sandoncapital.com.au/2018/06/02/knife-edge-vote-besix-to-sell-out-entirely-from-watpac-if-takeover-fails/) - Source: The Australian Financial Review. By: Larry Schlesinger. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Watpac suitor Besix has warned it will sell out entirely from the ASX-listed contractor and mining services company if shareholders don't vote in favour of its two-thirds takeover. The Belgian construction giants proposal to lift its stake in Watpac to
- [Watpac investors vote against Belgian takeover deal](https://sandoncapital.com.au/2018/06/08/watpac-investors-vote-against-belgian-takeover-deal/) - Source: The Australian. By: Robyn Ironside. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Watpac shareholders have delivered a strong rebuke to the board by voting down a 92c-a-share offer from Belgian giant Besix to acquire two-thirds of the Australian construction company. The Watpac board and the second-biggest shareholder, Commonwealth Bank, had backed the scheme of
- [BHP approves $4.5b South Flank iron ore mine in Western Australia](https://sandoncapital.com.au/2018/06/15/bhp-approves-4-5b-south-flank-iron-ore-mine-in-western-australia/) - Source: The Australian Financial Review. By: Peter Ker. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] BHP has warned of rising cost pressures as it and Fortescue Metals Group push ahead with $6 billion of new iron ore projects in Western Australia, with the scramble for workers and equipment set to intensify should Pilbara rival Rio
- [Watpac directors slammed by Sandon Capital for recommending Besix offer](https://sandoncapital.com.au/2018/11/06/watpac-directors-slammed-by-sandon-capital-for-recommending-besix-offer/) - Source: The Australian Financial Review. By: Larry Schlesinger. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Activist investor Sandon Capital has slammed the independent directors of listed construction firm Watpac for recommending shareholders sell out to Belgian firm Besix at 92¢ a share. Besix's ownership of Watpac has nudged up to 50 per cent from almost
- ['Excited' Martin Monro to lead delisted Watpac as Besix gets Aussie 'bargain'](https://sandoncapital.com.au/2019/01/02/excited-martin-monro-to-lead-delisted-watpac-as-besix-gets-aussie-bargain/) - Source: The Australian Financial Review. By: Larry Schlesinger. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] It took most of 2018, but Belgian construction giant Besix finally snared its prey just before Christmas, with the takeover of iconic Queensland construction company Watpac Limited. December 24 was the final ASX trading day for Watpac, which floated in
- [Iluka under pressure to share royalty riches](https://sandoncapital.com.au/2019/07/08/iluka-under-pressure-to-share-royalty-riches/) - Source: The Australian. By: Nick Evans. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Mineral sands miner Iluka Resources faces fresh shareholder pressure to pass on a lucrative iron ore royalty after the price of the steelmaking commodity rose to post-boom highs and BHP hits its stride on a new mine that could treble payments within
- [Why COVID-19 is a gift to activist investors](https://sandoncapital.com.au/2020/05/11/why-covid-19-is-a-gift-to-activist-investors/) - Source: The Australian Financial Review. By: Jonathan Shapiro. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Activist fund managers have the potential to create even more value from downtrodden companies as a result of the coronavirus turmoil, according to Independent Investment Research, because the timing is extremely favourable for a turn of fortunes. Activist funds can
- [Companies get an extension to shield against class actions](https://sandoncapital.com.au/2020/09/23/companies-get-an-extension-to-shield-against-class-actions/) - Source: The Australian Financial Review. By: John Kehoe. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Companies will face softer financial disclosure rules for a further six months from Wednesday under a COVID-19 regulatory shield extended by Treasurer Josh Frydenberg, fuelling a brawl between supportive directors and investors who warn the weakening will damage Australia's capital
- [Once again, investors’ rights are being gnawed at](https://sandoncapital.com.au/2020/10/26/once-again-investors-rights-are-being-gnawed-at/) - Source: The Australian Financial Review. By: Chanticleer. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Chip, chip chip. Under the cover of COVID-19, the federal government is chipping away at the rights of small investors – the same small investors that helped it retain office at last year’s election. This is perfectly illustrated by the fact
- [Fleetwood chairman to step down early, paving way for new leadership team and ‘fresh ideas’](https://sandoncapital.com.au/2020/11/18/fleetwood-chairman-to-step-down-early-paving-way-for-new-leadership-team-and-fresh-ideas/) - Source: The West Australian. By: Sean Smith. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Fleetwood’s chairman is following its chief executive out of the company after suddenly disclosing departure plans. Melbourne-based Phillip Campbell told Fleetwood’s virtual annual meeting today that he “was bringing forward my retirement” and leaving the builder and caravan accessories group early
- [Wake up call for boards as activists doubt their capability](https://sandoncapital.com.au/2021/01/03/wake-up-call-for-boards-as-activists-doubt-their-capability/) - Source: The Australian Financial Review. By: Tony Featherstone. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] The forces behind the uptick in shareholder activism have been building for a decade. Shareholder activism hit new heights last year as institutional investors flexed their muscles, forcing executive and director resignations and putting Corporate Australia on notice. More than
- [Wellard’s Klepec new chairman at changing Fleetwood](https://sandoncapital.com.au/2021/02/25/wellards-klepec-new-chairman-at-changing-fleetwood/) - Source: The West Australian. By: Sean Smith. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] The chief of live exporter Wellard, John Klepec, is taking the chairmanship of Fleetwood in the latest stage of a leadership revamp at the 57-year-old former caravan-maker. The appointment, flagged by thewest.com.au three weeks ago, was confirmed today, with Fleetwood saying
- [Shareholder activist Radzyminski slams proxy reforms](https://sandoncapital.com.au/2021/05/09/shareholder-activist-radzyminski-slams-proxy-reforms/) - Source: The Australian Financial Review. By: Michael Roddan. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Treasury’s proxy adviser reforms will “further entrench underperforming listed company directors”, reduce management accountability and weaken shareholder rights, Sandon Capital founder Gabriel Radzyminski says. Treasurer Josh Frydenberg’s proposed overhaul of the proxy advice sector would shield directors and management who oversee “far too many
- [Gabriel Radzyminski says activism is a tool to unlock value](https://sandoncapital.com.au/2021/05/10/gabriel-radzyminski-says-activism-is-a-tool-to-unlock-value/) - Source: The Australian Financial Review. By: Ben Harvey. [vc_separator type='normal' position='left' color='#188EFC' thickness='1' up='15' down='15'] Any company will ultimately bend to the will of the majority of shareholders, says the market-beating fund manager. Since founding Sandon Capital in 2009, Gabriel Radzyminski has built the asset manager and its market-beating returns on a mix of value
- [Gabriel Radzyminski on the evolution of activism in Australia](https://sandoncapital.com.au/2021/04/08/gabriel-radzyminski-on-the-evolution-of-activism-in-australia/) - SALT Talks interview with Rachel Pether
- [Australian Government Treasury Department's Proposed Reforms](https://sandoncapital.com.au/2021/06/04/australian-government-treasury-departments-proposed-reforms/) - Download our response to draft legislation on Australian Government Treasury Department’s proposed reforms to allow virtual AGMs.
- [Sandon Capital’s requisition for a general meeting to remove directors](https://sandoncapital.com.au/2015/06/18/sandon-capitals-requisition-for-a-general-meeting-to-remove-directors/) - Download Sandon Capital’s requisition for a general meeting to remove directors
- [Australian Government Treasury Department’s Consultation Paper](https://sandoncapital.com.au/2021/04/17/australian-government-treasury-departments-consultation-paper/) - Download our submission to the Australian Government Treasury Department’s Consultation Paper on greater transparency of proxy advice, April 2021.

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- [Campaigns: Southern Cross Media (SXL)](https://sandoncapital.com.au/campaigns-southern-cross-media-sxl/) - Back to Campaigns Southern Cross Media Group Ltd (ASX:SXL) (SXL or Southern Cross) owns FM radio stations including the Triple M and Hit networks broadcast across the country. It also owns and operates the LiSTNR podcast platform. While traditional media has been declining for a number of years, we consider radio has characteristics that
- [Media](https://sandoncapital.com.au/media/) - Stay up-to-date with our latest campaigns, investment actions, and learn how we realise value through activist investing. Latest News Stokes camp flexes its muscle at Southern Cross, chairman resignsSource: The Financial Review By: Sam Buckingham-Jones Southern Cross Media chairman Heith Mackay-Cruise is resigning and handing over to a long-time ally of Kerry Stokes, as the
- [About](https://sandoncapital.com.au/about/) - OUR STORY Sandon Capital was founded in April 2008 in response to what I saw was a need for a more active approach to value investing in Australia. Earlier in my career as a fund manager, I always exercised the discipline of conducting post-mortem assessments on shareholdings to establish what had gone to plan, and
- [Why this fundie doesn’t mind a bruising fight to boost returns](https://sandoncapital.com.au/https-sandoncapital-com-au-2025-05-18-https-www-afr-com-markets-equity-markets-why-this-fundie-doesn-t-mind-a-bruising-fight-to-boost-returns-20250513-p5lyon/) - Why this fundie doesn’t mind a bruising fight to boost returns Australian Financial Review, Gus McCubbing, 19 May 2025 Unlike a private equity firm, we’re not looking for control, we’re looking for influence Sandon Capital founder Gabriel Radzyminski is in the throes of hand-to-hand combat with the board of Southern Cross Austereo. As an activist
- [Campaigns](https://sandoncapital.com.au/campaigns/) - As specialised activist investors, we consistently engage with boards and other shareholders on strategies to realise value for the benefit of shareholders. We have unrivalled experience having conducted more than 50 activist campaigns in Australia which you can read more about on this page. Southern Cross Media Group ASX:SXL Karoon Energy Limited ASX:KAR Magellan Financial
- [Contact](https://sandoncapital.com.au/contact/) - Head office Level 5 139 Macquarie Street Sydney NSW 2000 T: +61 2 8014 1188 E: info@sandoncapital.com.au Share Registry For SNC shareholder enquiries: MUFG Corporate Markets SCAF Investor Forms SCAF New Investor Form SCAF Existing Investor Form SCAF Redemption Form Send our team a message Notice: JavaScript is required for this content.
- [A2B ASX:(A2B)](https://sandoncapital.com.au/a2b-asxa2b/) - Back to Campaigns A2B Australia Limited (ASX:A2B) describes itself as a “payment and mobility systems and services company.” A2B’s dominance of the taxi payments systems, through Cabcharge, eroded over the years and the impact of competition from global ride share platforms was significant. A2B aimed to compete head-on with local and global giants in
- [Campaigns: Karoon Eneregy Limited  ASX:(KAR)](https://sandoncapital.com.au/campaigns-karoon-eneregy-limited-asxkar/) - Back to Campaigns Karoon Energy Ltd (ASX:KAR) (Karoon or KAR) is an Australian oil and gas producer with offshore operations in Brazil (Santos Basin) and the United States (Gulf of Mexico). For most of its 20 years as a listed company, Karoon was focused on exploration. In recent years, the acquisition of the Baúna
- [Iluka Resources Limited (ASX:ILU)](https://sandoncapital.com.au/iluka-resources-limited/) - Back to Campaigns Iluka Resources (ASX:ILU) is a leading producer of mineral sands, specifically high grade zircon and titanium dioxide rutile, and has a burgeoning rare earth elements business. At the time Sandon Capital first purchased shares, the company also owned a royalty over BHP’s Mining Area C iron ore operation (the MAC Royalty).
- [Fleetwood Corporation (ASX:FWD)](https://sandoncapital.com.au/fleetwood-corporation/) - Back to Campaigns Fleetwood (ASX:FWD) operates across three divisions: Building Solutions — Australia’s largest constructor of pre-fabricated modular buildings; Accommodation Solutions – including ownership and operation; and Recreational Vehicle (RV) Solutions – service provider, manufacturer and distributor of caravan parts and accessories. The Opportunity After riding the WA mining boom from the turn of
- [Campaigns: Magellan Financial Group  ASX:(MFG)](https://sandoncapital.com.au/campaigns-magellan-financial-group-asxmfg/) - Back to Campaigns Magellan Financial Group Ltd (ASX:MFG) (Magellan or MFG) is an Australian-based global funds management company. It manages funds and mandates across three categories: Global Equities, Infrastructure Equities and Australian Equities. Magellan was established in 2006 and became a leading asset management franchise in Australia, especially among retail investors and independent financial
- [City Chic Collective (ASX:CCX)](https://sandoncapital.com.au/city-chic-collective/) - Back to Campaigns Formerly known as Specialty Fashion Group, Sydney-headquartered City Chic (ASX:CCX) is today an omni-channel retailer catering to plus-size women in Australasia, North America and Europe. Online sales represent over 70% of the company’s total sales. Download Case Study The Opportunity The legacy Specialty Fashion Group brands – Autograph, Crossroads, Katies, Millers
- [Watpac (ASX:WTP)](https://sandoncapital.com.au/watpac/) - Back to Campaigns Watpac (ASX:WTP) operates a national construction business with a broad client base spanning the commercial, education, health and science, residential, defence, and sports sectors. The company also has a civil and mining construction contract business operating in Western Australia. The Opportunity By 2017, WTP had suffered a number of operational missteps
- [Alchemia (ACL)](https://sandoncapital.com.au/alchemia/) - Back to Campaigns At the time of Sandon Capital’s acquisition, Alchemia (ACL) was a biotechnology company developing a metastatic colorectal cancer drug. The company also had a profit share arrangement with Dr Reddy’s, one of the world’s largest generic drug manufacturers, for the production of Fondaparinux (Fonda), an oral anticoagulant for deep vein thrombosis
- [Coventry Group Limited (ASX:CYG)](https://sandoncapital.com.au/coventry-group-limited/) - Back to Campaigns Coventry Group (ASX:CYG) supplies a range of fastening systems, cabinet hardware systems, hydraulics, lubrications, fire suppression products, refuelling systems and other solutions to the mining, construction and manufacturing sectors. The Opportunity CYG had been a serial underperformer with revenues more than halving from 2007 to 2013. Governance was poor, the business
- [Site Terms & Conditions](https://sandoncapital.com.au/site-terms/) - Using this site signals that you agree to the following: This website is published by Sandon Capital Pty Ltd ABN 98 130 853 691 | AFSL 331663 (we, us, Sandon Capital). Using this website is your agreement to these terms as amended from time to time. Please take the time to read them. Contact us
- [Campaigns: A2B](https://sandoncapital.com.au/campaigns-a2b/) - Back to Media Singapore giant in $182m buyout of 13cabs operator A2BSource: Financial Review By: Simon Evans Singapore’s ComfortDelGro has made a $182 million buyout offer for A2B Australia, the operator of 13cabs, Silver Service and Cabcharge. Sandon Capital, one of the company’s major investors, endorsed the bid as a “good deal” at the
- [Campaigns: Watpac](https://sandoncapital.com.au/campaigns-watpac/) - Back to Media ‘Excited’ Martin Monro to lead delisted Watpac as Besix gets Aussie ‘bargain’Source: The Australian Financial Review. By: Larry Schlesinger. It took most of 2018, but Belgian construction giant Besix finally snared its prey just before Christmas, with the takeover of iconic Queensland construction company Watpac Limited. December 24 was the final
- [Campaigns: Iluka](https://sandoncapital.com.au/campaigns-iluka/) - Back to Media Iluka under pressure to share royalty richesSource: The Australian. By: Nick Evans. Mineral sands miner Iluka Resources faces fresh shareholder pressure to pass on a lucrative iron ore royalty after the price of the steelmaking commodity rose to post-boom highs and BHP hits its stride on a new mine that could......08
- [Campaigns: Fleetwood](https://sandoncapital.com.au/campaigns-fleetwood/) - Back to Media Wellard’s Klepec new chairman at changing FleetwoodSource: The West Australian. By: Sean Smith. The chief of live exporter Wellard, John Klepec, is taking the chairmanship of Fleetwood in the latest stage of a leadership revamp at the 57-year-old former caravan-maker. The appointment, flagged by thewest.com.au three weeks ago, was confirmed today,......25
- [Campaigns: Coventry](https://sandoncapital.com.au/campaigns-coventry/) - Back to Media Radzyminski wins war against Coventry chairSource: The Australian Financial Review. By: Sarah Thompson, Anthony Macdonald and Jake Mitchell. Activist investor Gabriel Radzyminski ’s six-month campaign to dethrone Roger Flynn as executive chairman of Coventry Group has met success. Coventry Group announced to the ASX on Wednesday that Flynn will hand......19 November,
- [Campaigns: City Chic](https://sandoncapital.com.au/campaigns-city-chic/) - Back to Media Specialty Fashion shares surge 46pc on Noni B dealSource: The Australian Financial Review. By: Sue Mitchell. After coming close to collapse in 2014, Noni B is set to become Australia’s largest women’s wear retailer after outlaying $31 million for Specialty Fashion Group’s loss-making Millers, Katies, Crossroads, Autograph and Rivers brands. The
- [Campaigns: Alchemia](https://sandoncapital.com.au/campaigns-alchemia/) - Back to Media Sandon Capital’s requisition for a general meeting to remove directorsDownload Sandon Capital’s requisition for a general meeting to remove directors...18 June, 2015Sandon Capital seeks to turf out biotech Alchemia founder Tracie Ramsdale and chairman Tim HughesSource: The Australian Financial Review. By: Liam Walsh. THE founding scientist of Brisbane drug developer Alchemia is
- [Gabriel Radzyminski says activism is a tool to unlock value](https://sandoncapital.com.au/gabriel-radzyminski-says-activism-is-a-tool-to-unlock-value/) - Gabriel Radzyminski says activism is a tool to unlock value Australian Financial Review, Tom Richardson, 10 May 2021 Any company will ultimately bend to the will of the majority of shareholders, says the market-beating fund manager. Since founding Sandon Capital in 2009, Gabriel Radzyminski has built the asset manager and its market-beating returns on a
- [Shareholder activism in Australia](https://sandoncapital.com.au/shareholder-activism-in-australia/) - Shareholder activism in Australia Firstlinks, Gabriel Radzyminski, 20 March 2013 An old investing adage states, “more money has been lost through corporate mismanagement than at the point of a gun.” By simply running their finger down a list of history’s biggest (or smallest) corporate disasters and missteps, an investor can quickly spot several common themes
- [Wake-up call for boards as activists doubt their capability](https://sandoncapital.com.au/wake-up-call-for-boards-as-activists-doubt-their-capability/) - Wake-up call for boards as activists doubt their capability Australian Financial Review, Tony Featherstone, 3 January 2020 The forces behind the uptick in shareholder activism have been building for a decade. Shareholder activism hit new heights last year as institutional investors flexed their muscles, forcing executive and director resignations and putting Corporate Australia on notice.
- [Why COVID-19 is a gift to activist investors](https://sandoncapital.com.au/why-covid-19-is-a-gift-to-activist-investors/) - Why COVID-19 is a gift to activist investors Australian Financial Review, Jonathan Shapiro, 11 May 2020 Activist fund managers have the potential to create even more value from downtrodden companies as a result of the coronavirus turmoil, according to Independent Investment Research, because the timing is extremely favourable for a turn of fortunes. Activist funds can
- [Warrnambool Cheese & Butter Factory Holdings Limited (ASX:WCB)](https://sandoncapital.com.au/warrnambool-cheese-butter-factory-holdings-limited-2/) - Back to Campaigns Funds managed by Sandon Capital together represent the third largest bloc of shares in WCB. Dividends such as the one we propose have featured in many takeovers and schemes in recent years. We believe the IBC has erred by not including a dividend as part of the takeover consideration, and as
- [Proposed reforms to allow virtual AGMS](https://sandoncapital.com.au/proposed-reforms-to-allow-virtual-agms/) - About The Australian Government’s Treasury Department has proposed making permanent the temporary laws allowing listed companies to hold virtual-only general meetings. Events Sandon Capital believes this is a poorly conceived proposal that risks a dangerous disenfranchisement of shareholders and their rights and will likely serve to further the entrenchment of company directors, both the good

## Categories

- [Watpac](https://sandoncapital.com.au/category/watpac/)
- [City Chic](https://sandoncapital.com.au/category/city-chic/)
- [Fleetwood](https://sandoncapital.com.au/category/fleetwood/)
- [Activist Investing](https://sandoncapital.com.au/category/activist-investing/)
- [Public Advocacy](https://sandoncapital.com.au/category/public-advocacy/)
- [Interviews](https://sandoncapital.com.au/category/interviews/)
- [Coventry](https://sandoncapital.com.au/category/coventry/)
- [Iluka](https://sandoncapital.com.au/category/iluka/)
- [Alchemia](https://sandoncapital.com.au/category/alchemia/)
- [Boral](https://sandoncapital.com.au/category/boral/)
- [A2B](https://sandoncapital.com.au/category/a2b/)
- [MFG](https://sandoncapital.com.au/category/mfg/)
- [Karoon Energy](https://sandoncapital.com.au/category/karoon/)
- [Southern Cross Media](https://sandoncapital.com.au/category/southern-cross-media/)

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