The Australian Government's Takeovers Panel received an application from Pact Group Holdings' (ASX:PGH) shareholder Jeremy Raper, regarding the affairs of the company, according to a Tuesday filing with the Australian bourse.
The application alleges that the company's reasons for a proposed delisting are false and misleading and that the board is not acting in the best interests of shareholders, the filing said.
Raper also claims in the application that the delisting exerts substantial coercive pressure on minority shareholders, the filing added.
The application seeks interim orders to halt the company's upcoming extraordinary general meeting until the Takeovers Panel rules on the application.
It also seeks final orders to restrain majority shareholder Bennamon and its related entities from acquiring additional PGH shares.
The government arm has not yet been assigned a panel for the particular case, while there is still no decision to conduct any proceedings related to the matter.
Shares of the company rose 5% in recent Tuesday trade.
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