Sharechat Logo

Attempt to stop Hanover meeting fails

Monday 8th December 2008

Text too small?
Hanover says a last-minute attempt to disrupt tomorrow’s meetings of investors to consider the group’s debt restructure proposals has failed.

An investor sought a High Court injunction to stop the meetings. However the application was dismissed by Justice Heath.

Hanover chief executive Peter Fredricson, welcomed the result.

“This has been an unwanted distraction, but at least the outcome is right for our investors,” he said.

"They can now attend the meetings and exercise their right to vote in the same way as many others have already done through proxies.

He expects the meeting will be "well-attended.”

Hanover has 16,000 investors, owed a total of more than $500 million.

Fredricson said that Hanover hoped to be in a position to announce the outcome of the extraordinary resolutions early tomorrow afternoon.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Second St John withdrawal of labour takes effect tomorrow with further strikes likely
Sanford Appoints Independent Director
CRP ADVISES CLOSURE OF SHARE OFFER TO EXISTING INVESTOR
Devon Funds Morning Note - 14 August 2024
OCR 5.25% - Monetary restraint tempered as inflation converges on target
Consumers still need due diligence as new deposit takers emerge.
Woolworths strike: staff asked to dress up in Disney costumes for a week on their own dollar
Turners Invests in Quashed Online Insurance Platform
PGW Reports on Challenging Year
Arvida Announces Executive Team Changes