Nuplex CEO Severin reaps $10.3 mln windfall from $1 bln Allnex takeover

Thu, 07 Jul 2016

By Fiona Rotherham July 7 (BusinessDesk) - Emery Severin, chief executive of resins company Nuplex Industries, is due a $10.3 million cash payout following a shareholder vote in favour of a $1 billion proposed takeover by private equity-backed Belgian company Allnex. At a special shareholders meeting in Auckland today, 98 percent of the votes cast were in favour of the deal, with institutional shareholders overriding a desire of smaller long-term shareholders to hang in there. 76.5 percent of the total shares on issue voted in favour of t...

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