Wrightson capital return gets shareholder approval

Tue, 23 Jul 2019

By Paul McBeth July 23 (BusinessDesk) - PGG Wrightson shareholders have again given the rural services firm the thumbs up to a capital return in a tax-efficient way. Shareholders voted overwhelmingly in favour of a scheme of arrangement to distribute $234 million to investors following the sale of the company's seeds division. Wrightson will undertake a two-for-one share split, followed immediately by a 31 cent payment per share to cancel one of every two shares. The practical effect of the transaction is that investors will end up wi...

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