Murray Goulburn A class shareholders will vote on Friday (June 6) whether to sell their shares back to the company.June 4, 2014 1:00pm
Murray Goulburn A class shareholders will vote on Friday (June 6) whether to sell their shares back to the company.
As part of a capital restructure, Murray Goulburn has called a special meeting of A class preference shareholders in Melbourne.
The motion proposes to cancel the 14.5 million non-voting shares in return for $1.25 share.
The company plans to pay these shares out of its cash holdings.
The shares were introduced in 1970 and have been issued to retiring, or ‘‘dry’’ suppliers.
Since then they have been dispersed to family members and others connected with the company.
Murray Goulburn said it cannot find 20 per cent of the shareholders.
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