Tegel shareholders express concern at escrow shares and weaker share price

Wed, 19 Oct 2016

By Fiona Rotherham Oct. 19 (BusinessDesk) - Tegel shareholders say they're concerned about the potential impact of escrow shares on the market and a drop in the poultry company’s share price which is trading 6 cents below the $1.55 price it sold at in its May initial public offering. Affinity Partners, which retained a 45 percent share in Tegel after the float, and a number of directors and senior management holding just under 1 percent, have just over 163 million shares in escrow. Tegel chairman James Ogden told shareholders at the co...

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