Rio Tinto's (RIO) investor Palliser Capital said Thursday it submitted a resolution to the company's upcoming annual general meeting for an "independent, comprehensive, and transparent" review on unifying its dual listing into a single Australian-domiciled holding company.
The investor asked Rio Tinto's board in a letter for a "robust and vigorous" review of the "irrefutable" case to unify the company's dual listing with a primary listing on the Australian Stock Exchange, Palliser added.
Pallister also said that despite meeting with the company's management, it was told that the case has no "value".
"We took this step because we believe that the market is long overdue the review we are requesting and, if the Board is not willing to procure it of its own accord, then we must ensure that shareholders have the ability to require them to do so," according to the letter.
Rio Tinto did not immediately respond to MT Newswires' request for comment.
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