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Matrix Composites & Engineering Ltd ( (AU:MCE) ) has issued an update.
Matrix Composites & Engineering Ltd held its Annual General Meeting, where the adoption of the Remuneration Report faced a first strike as over 25% of votes were against it. Despite this, other resolutions, including the re-election of a director and the issuance of options and performance rights to executives, were carried. However, the proposal for an additional 10% placement capacity was not approved. The company plans to engage with shareholders to address their concerns regarding the remuneration report.
The most recent analyst rating on (AU:MCE) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Matrix Composites & Engineering Ltd stock, see the AU:MCE Stock Forecast page.
More about Matrix Composites & Engineering Ltd
Matrix Composites & Engineering Ltd specializes in the design, engineering, and manufacture of composite and advanced material technology solutions for industries such as oil and gas, civil and infrastructure, resources, defence, and transportation. With over 20 years of experience, the company is recognized as an industry leader and a major exporter of Australian goods and services, serving a global customer base from its headquarters in Australia and offices in the United States.
Average Trading Volume: 263,727
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$49.43M
For detailed information about MCE stock, go to TipRanks’ Stock Analysis page.