Withhold director fees, appoint IFA: Great Eastern shareholders propose resolutions to table at AGM
A GROUP of minority shareholders of Great Eastern Holdings : G07 0% (GEH) have proposed three resolutions to be tabled at the insurance provider’s upcoming annual general meeting (AGM), in an attempt to “protect and preserve” shareholder value.
The resolutions are calls to withhold directors’ fees, to change the share option schemes of employees, and to appoint an independent financial advisor (IFA).
According to a letter seen by The Business Times on Friday (Mar 1), a group of close to 80 shareholders have raised concerns over GEH’s depressed share price and continued valuation decline over the last decade, despite its “strong financial position”.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
As money pours into private credit funds, will there be enough borrower demand?
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
Tycoon Richard Li said to near fibre sale to China Merchants
UG Healthcare fully acquires German associate company for 16.9 million euros
Australia banks shower investors with A$5 billion in buybacks
AstraZeneca says it will withdraw Covid-19 vaccine globally as demand dips