Murray Goulburn shareholders voted to give up their A Class Preference Shares for cash at a special meeting in Melbourne last week.June 10, 2014 3:03pm
Murray Goulburn shareholders voted to give up their A Class Preference Shares for cash at a special meeting in Melbourne last week.
The preference shareholders voted on the proposal to have the class cancelled in exchange for $1.25 a share, as part of a restructure the company is pursuing.
The vote achieved the minimum 75 per cent of votes required to pass the resolution.
A total of 23 per cent of the A Class holders voted against the resolution.
These shareholders had been guaranteed a minimum return of eight per cent each year.
Murray Goulburn chairman Philip Tracy said he was pleased the resolution was passed.
‘‘The A Class Preference Shares consisted of mainly very small shareholdings, 20 per cent of which we have been unable to contact, and was an old class of share that has been closed to new shareholders for more than a decade.
‘‘In these circumstances, the board’s view was that a cancellation of the A Class Preference Shares was the right way forward and represented the best outcome for both A Class Preference Shareholders and our current supplier/shareholders.’’
He expected the payment for the shares to occur about June 24.
Veteran Newman to play for Dandenong once more
The Yarrawonga Pigeons defeated Corowa Rutherglen Roos by 76 points at the JC Lowe Oval in Yarrawonga.
The Aboriginal and wider community is mourning the death of revered Bangerang Aboriginal elder, Uncle John ‘‘Sandy’’ Atkinson.
REGIONAL Victorians will be invited to get up close and personal with Graham (pictured above) – the face of a world-first Transport Accident Commission road safety initiative.
AFTER 46 years of garden growing, Rochester and District Garden Club members are hanging up their spades, drying out their gloves and getting ready to watch the weeds grow.
Gift fundraiser is looking for toddler talent.
Local export Willie Wheeler dominating at VFL level
Berrigan Shire councillor Daryll Morris says he has been sickened by some of the vitriol and personal attacks to surface since the council’s proposal to redevelop Finley’s Memorial Hall and School of Arts site was revealed in October last year.
THE Heathcote Community will come together once again to honour the memory of car accident victim Georgia Edsall-French at a memorial day this Saturday.
Katamatite Lions Club held its 42nd annual handover dinner at the Boosey Creek Tavern on July 13.
Mathoura endured a harsh hammering to its playing confidence on Saturday with a 24-goal thrashing at the hands of Deniliquin Rovers.
The demand for organic milk in Australia is outstripping supply, creating an opportunity for the region’s dairy farmers.
The News magazines are online - read high quality magazines in your time. Check in regularly for the latest editions.
Riverine Herald's well regarded locally produced magazines. They're now online, so you can read them whenever and wherever you like.
Search for published and unpublished photos from McPherson Media Group newspapers and magazines. All our photos are available to purchase.
Place an advertisement in any one of McPherson Media Group's local newspapers.