Perpetual has announced it would continue to act in the interest of unitholders after the Federal Court of Australia dismissed on Monday its shareholder oppression claim on behalf of unitholders against Brickworks and Washington H Soul Pattinson (WHSP).
The company also said it had received direction from the court that pursuing this action was justified.
Perpetual’s chief executive and managing director, Geoff Lloyd, said: “As an active value manager our role is to find value in companies which are attractively priced and have quality prospects to deliver for investors.
“We will continue to perform that role and advocate for our unitholders.
“Although these investments have performed well for our unitholders, our intention throughout this matter was to try and unlock additional value for them.
“Ultimately, while we did not get the outcome we hoped for in this matter, we acted and will continue to act in the best interest of our unitholders,” he said.
