STOCKHOLDERS’ MEETINGS

News Corp fury after ISS urges vote against Lachlan Murdoch

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Original article by Sam Buckingham-Jones
The Australian Financial Review – Page: 20 : 6-Nov-25

Institutional Shareholder Services says News Corporation shareholders should vote against chairman Lachlan Murdoch at the media group’s upcoming annual meeting. ISS has expressed concern that Murdoch’s $5bn bid to gain control of the family’s stake in News Corp and Fox Corp had included pledging $US1bn ($1.5bn) worth of the companies’ shares as collateral; the firm contends that the pledging of company stock by directors or executive officers can pose a risk to the investments of outside shareholders. However, News Corp has accused ISS of using ‘arbitrary metrics’ to misrepresent and overstate the pledge’s applicability to Murdoch, noting that he Lachlan did not own the shares directly and only held a one-third interest in the company that did via a trust. ISS has also recommended voting against the re-election of three other members of News Corp’s board.

CORPORATES
NEWS CORPORATION – ASX NWS, INSTITUTIONAL SHAREHOLDER SERVICES INCORPORATED, FOX CORPORATION

Rio chair to face Juukan anger

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Original article by Nick Evans
The Australian – Page: 17 : 9-Apr-21

Rio Tinto is expected to incur a backlash against its remuneration report at the London leg of its annual general meeting on 9 April. Outgoing chairman Simon Thompson is likely to be the main target of investors’ wrath in the wake of the scandal over the destruction of ancient indigenous rock shelters at Juukan Gorge in Western Australia. The scandal resulted in the departure of three senior executives – including former CEO Jean-Sebastien Jacques – who will receive lucrative severance payments. Rio Tinto will hold its Australian annual general meeting on 8 May.

CORPORATES
RIO TINTO LIMITED – ASX RIO

BHP may cut dividend if DLC changes fail

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Original article by Peter Ker
The Australian Financial Review – Page: 19 : 21-Oct-15

CGI Glass Lewis has recommended that BHP Billiton shareholders support a resolution to transfer funds from its Australian-listed entity to its UK-listed company. The proposed payment is necessary to allow shareholders in both companies to continue receiving the same dividend payout. CGI Glass Lewis has warned that all shareholders could face lower dividend payouts if the resolution is rejected.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, CGI GLASS LEWIS PTY LTD, SOUTH32 LIMITED – ASX S32