Media company NZME has announced that it has received a proposal from substantial shareholder Jim Grenon to remove all current directors and appoint four new directors to the NZME board.
Grenon, who holds a 9.97% stake in the company, claimed to have the support of some of NZME's largest shareholders, representing approximately 37% of the company's shares.
However, NZME said it was not in a position to confirm Grenon's statements.
Grenon is also one of the proposed nominee directors.
In addition, NZME received separate nominations from Osmium Partners for the appointment of two new directors.
The annual shareholders' meeting is scheduled for April 29, 2025.
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