Business Services Industry
Failed bid sours APN board vote.
Australasian Business Intelligence, July, 2007
Byline: Stuart Washington
Jul 03, 2007 (The West Australian - ABIX via COMTEX) -- Many votes were cast against the re-election of four APN News & Media directors on 3 July 2007. Up to 26 per cent of shares were voted in opposition to the re-election of lead independent director, Ted Harris. An Australian Shareholders' Association representative spoke against Harris's re-election at the AGM, citing the fact that Harris had been on the group's board for 15 years. He also suggested that Harris failed to act in the best interests of all retail shareholders in relation to Independent News & Media's failed takeover offer for APN. Meanwhile, APN has announced an on-market buyback for approximately nine per cent of its shares. The stock closed at $A5.78 on 3 July....
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