Shareholder return postponed at India Equities Fund
Resolutions proposed for an extraordinary general meeting (EGM) scheduled for India Equities Fund on 18 October will no longer be considered, the fund has announced.
Requisitionist GW Holdings had not met certain requirements of the company’s constitution, the fund said, and although GWH said it did not support this position it said it would not press for the resolutions to go ahead. It had been proposed that the board return capital of 5.75 cents per share to shareholders. If that return is not approved at a subsequent EGM on 5 November it would amount to a vote of no confidence in the board, according to the fund.
If that happens the directors will appoint James Chirnside, Alexander Feher and Gabriel Radzyminski as additional directors and Don Christie, David Carruthers and Cliff Clayton will resign.
If the return is approved by shareholders on 5 November the directors will manage the implantation as quickly as possible, the fund said.
Recommended for you
First Sentier Investors chief executive, Mark Steinberg, is set to depart the asset manager after seven years.
Metrics Credit Partners has completed the acquisition of Taurus Finance Group and BC Investment Group as it looks to launch consumer lending arm Navalo.
AMP has announced to the ASX that it is being sued by property fund manager Dexus regarding the sale of its real estate and domestic infrastructure equity business.
Having seen inflows of US$5.6 billion to its fixed income funds in the last quarter, Janus Henderson has closed on a deal with life insurer Guardian to secure funds to boost its product development.
