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.
Football nut and AFL Goulburn Murray league operations manager Simon Devine is looking forward to the challenge of carrying on the proud tradition of the Goulburn Valley Football League.
Police investigating a break and enter at a Mulwala club more than 10 years ago are renewing their appeal for public assistance by releasing an image of a person they believe has information to assist them.
Tatura’s Victory Hall is set for a big year as preparations get under way to celebrate the hall’s 90th birthday in September.
Former district resident and award-winning television producer Joanna Werner will no doubt be shopping for a glitzy gown ahead of the Emmy Awards in New York on February 20.
Rochester Secondary College school captains Dom Atley and Tim Poole have been accepted to study biomedical science in the first step towards becoming doctors.
Will it be Merrigum or Lancaster?
Fire destroys key public buildings in Seymour
Finley Henry Matheson was bestowed one of the highest Australia Day honours.
Heathcote Hostel residents were treated to a visit from Heathcote’s favourite horse, Sub Zero, as part of Australia Day celebrations.
Recent weather conditions have come as a mixed blessing for farmers, with high rainfall and humidity providing a respite for irrigators as well as difficult growing and picking conditions for fruit growers.
Darren McLoughlin only started playing croquet seven years ago.
From orchards to harvest to shelves, a new exhibition will celebrate the Goulburn Valley’s iconic fruit industry. The Photos of the Fruit Industry exhibition will run as part of the SheppARTon Festival in March and aims to share memories and history of an industry that has shaped the region.
Former Benalla footballer Tom Rockliff has been named captain of the Brisbane Lions Football Club.
Discover unbelievable local deals from local businesses every week in the Goulburn and Murray Valley area with Leapon.com.au!
Search properties for sale or rent across North Central Victoria and Southern NSW. Visit your local website for local homes....
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.