Rio Tinto (RIO) shareholder Palliser Capital is mounting pressure asking the company to put to vote a resolution to independently review its dual listing, The Wall Street Journal reported Monday.
The activist investor has asked the company's board to let Australian shareholders vote on the resolution after the miner's UK investors voted on it.
The miner excluded the resolution from its Australian annual general meeting, breaking from its usual practice of presenting identical resolutions at both meetings due to its dual-listing status, WSJ reported.
Palliser Capital is reportedly seeking to have Rio Tinto abandon its primary London listing and unify its corporate structure in Australia, arguing that the current set up destroys shareholder value.
Rio Tinto did not immediately respond to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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