Rural Press (RUP): Best Performing Company

Submitted by Marco on 10 December, 2006 - 10:24

Rural Press (RUP) stock chart

Rural Press (RUP) was the best performing company listed on the Australian Stock Exchange (ASX) this week (Winner of the week for week 49 of 2006). The Rural Press share price closed the week 14 percent higher after Fairfax (FXJ) announced its friendly takeover of Rural Press, creating one of the largest digital and print businesses in Australia worth about $9 billion. Fairfax is estimating that the merger will save the company a totally of $35 million a year within 18 months, and will also give the company the tools for expansion. On the announcement, Rural Press shares shot to record levels - surging $1.66 or 14 per cent higher to close at $13.41. Fairfax Media is offering $A3.30 a share plus two Fairfax shares for each Rural share or $A1.80 in cash and 2.3 Fairfax shares. To sweeten the proposed deal, Rural Press' investors stand to get a dividend payout of 57 cents.

Rural Press Limited is listed on the Australian Stock Exchange (ASX) under stock code RUP. You can view their investor website here. RUP was listed on the ASX on 16 March, 1989. The current chairman for RUP is John Brehmer Fairfax. There are two Fairfax non-executive directors: Timothy Fairfax and Nicholas Fairfax. Rural Press is involved in newspaper and magazine publishing, printing and radio broadcasting. Rural Press Limited is a specialist agricultural and regional publisher that has as its hallmark, service to the communities its publications reach. The first publication - The Land - was launched in 1911 by a group of like-minded people who felt that farmers and graziers needed a strong advocate in the face of what was seen at the time as agriculture's diminishing political and economic influence. The company derives much of its revenue from country people and country-related industries. They serve the people of regional and rural Australia through our publications and our printing sites. In addition, we serve rural people in New Zealand and the United States of America. Browse for Australian stockbroker recommendations. Check your charts and good luck with your share trading!