India, March 18 -- Rio Tinto's (RTPPF.PK,RIO.L,RIO,RTNTF.PK) board has unanimously recommended that shareholders vote against a resolution proposed by an activist investor seeking an independent review of the company's dual-listed structure.
Palliser Capital, a London-based hedge fund, has called on the Anglo-Australian mining giant to consolidate its corporate structure into a single Australian-domiciled entity, claiming that the current dual listing in London and Sydney diminishes shareholder value.
Ahead of the AGMs scheduled for 3 April 2025 and 1 May 2025, Rio Tinto issued a statement to all shareholders addressing the resolution put forth by Palliser Capital and other shareholders, as well as the related reports from Glass Lewis and...