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Rinehart a late arrival at Ten AGM


Mining billionaire Gina Rinehart has made a late entrance at the Ten Network's annual meeting for shareholders.

Mrs Rinehart, who sits on the troubled TV network's board, arrived at 1143 AEDT on Thursday, having been stuck in a Sydney traffic jam.

Her arrival came during a question from Australian Shareholders' Association representative Stephen Mayne, who called for shareholders to welcome the billionaire with a round of applause.

The crowd duly applauded as Mrs Rinehart took her seat between fellow Ten directors David Gordon and Paul Gleeson on the stage.

Ten chairman Lachlan Murdoch was also at the meeting, despite his grandmother, Dame Elizabeth Murdoch, having died aged 103.

The meeting is being held just hours after the troubled TV network announced it would cut an extra $35 million in costs and tap shareholders for $230 million in response to its recent poor performance.

While Mrs Rinehart's attendance at the meeting has been applauded by shareholders, she has had a patchy track record in attending Ten board meetings.

Ten's annual report showed Mrs Rinehart, who holds 10 per cent of Ten stock, attended eight of the company's 14 board meetings during fiscal 2012.

The billionaire miner sent alternates to the other six meetings.