Whitehaven open to offering Farallon board seat

Whitehaven Coal Ltd is open to the possibility of offering Farallon Capital Management a board seat after the group became the coal miner's largest shareholder, The Australian Financial Review reports.

Whitehaven Coal Ltd is open to the possibility of offering Farallon Capital Management a board seat after the group became the coal miner's largest shareholder, The Australian Financial Review reports.

According to the newspaper, Whitehaven managing director Paul Flynn said if Farallon requested a seat on the board, the company would "look seriously at it".

"If they make a request to come on the company board, we would see that as a positive because that would mean they are probably going to sit on their shares for a while," Mr Flynn told the AFR.

"If they were thinking of trading their shares I would expect they would not ask for one but Farallon have been long term shareholders and if they were to make that request we would look at it seriously."

Farallon purchased a 9.9 per cent stake in Whitehaven from Nathan Tinkler on Wednesday, with the balance of the coal baron's shareholding sold to members of the leading Tinkler syndicate.

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