NZME Receives Letter Claiming Support for Director Nominations Resolution From Some Shareholders; Shares Fall 3%

MT Newswires Live

03/07

NZME (ASX:NZM, NZE:NZM) said James Grenon and JTG 4 claimed that they had received indications of support for their director nominations and shareholder proposal from some of NZME's largest shareholders, representing a stake of around 37% in the firm, according to Friday filings with the Australian and New Zealand bourses.

Solicitors for Grenon and JTG 4 said that the 37% includes around 10% of shares held by Grenon in his own right.

Grenon and JTG 4 had proposed in a Thursday letter to remove all of the current directors of NZME and nominate four new directors to the NZME board.

NZME said it will provide a further update in the notice for the annual shareholders' meeting to be held on April 29.

The firm's shares fell past 3% in recent trading on the ASX on Friday.

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