RESEND: LIC proposes share restructure to reduce conflicts between farmers, investors

Fri, 09 Feb 2018

(Clarifies share status in 2nd paragraph) By Sophie Boot Feb. 9 (BusinessDesk) - Farmer-owned cooperative Livestock Improvement Corp's board has released its suggested plan to merge its two share classes in a proposal the independent adviser described as relatively complicated but overall will deliver benefits. LIC has two classes of shares: unlisted cooperative control shares and investment shares, which are listed on the NZX Alternative Market (NZAX). Chair Murray King said the current structure means cooperative shareholders have gr...

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